Cornerstone Wealth Management LLC Acquires 1,159 Shares of Lincoln National Co. (NYSE:LNC)

Cornerstone Wealth Management LLC grew its position in shares of Lincoln National Co. (NYSE:LNC) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,109 shares of the financial services provider’s stock after acquiring an additional 1,159 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Lincoln National were worth $955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of LNC. American Century Companies Inc. boosted its holdings in Lincoln National by 9.1% during the 2nd quarter. American Century Companies Inc. now owns 45,844 shares of the financial services provider’s stock worth $1,426,000 after acquiring an additional 3,821 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Lincoln National by 15.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 89,928 shares of the financial services provider’s stock worth $2,797,000 after buying an additional 12,339 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Lincoln National by 11.9% in the 2nd quarter. Bank of Montreal Can now owns 148,378 shares of the financial services provider’s stock worth $4,758,000 after buying an additional 15,778 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Lincoln National by 48.8% in the 2nd quarter. Squarepoint Ops LLC now owns 715,105 shares of the financial services provider’s stock worth $22,240,000 after buying an additional 234,523 shares during the last quarter. Finally, Toronto Dominion Bank purchased a new position in shares of Lincoln National in the 2nd quarter worth about $1,387,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LNC has been the topic of a number of research analyst reports. Piper Sandler cut their price target on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Barclays cut their price target on shares of Lincoln National from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. TD Cowen boosted their price objective on Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company lowered their price objective on Lincoln National from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.40.

Lincoln National Trading Down 0.6 %

Shares of LNC opened at $33.28 on Friday. The business’s 50-day moving average price is $33.00 and its 200-day moving average price is $32.30. Lincoln National Co. has a twelve month low of $25.09 and a twelve month high of $36.98. The stock has a market cap of $5.67 billion, a PE ratio of 23.77, a P/E/G ratio of 0.26 and a beta of 1.78. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.42. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. Lincoln National’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. On average, equities analysts forecast that Lincoln National Co. will post 6.97 EPS for the current fiscal year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National’s dividend payout ratio (DPR) is 128.57%.

Insider Buying and Selling

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $36.00, for a total value of $103,068.00. Following the completion of the sale, the executive vice president now owns 99,644 shares of the company’s stock, valued at $3,587,184. This represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by company insiders.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.