Principal Financial Group Inc. Sells 31,678 Shares of Lincoln National Corporation $LNC

Principal Financial Group Inc. lowered its holdings in Lincoln National Corporation (NYSE:LNC) by 1.4% during the first quarter, Holdings Channel.com reports. The firm owned 2,280,576 shares of the financial services provider’s stock after selling 31,678 shares during the period. Principal Financial Group Inc.’s holdings in Lincoln National were worth $80,960,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in shares of Lincoln National in the fourth quarter valued at about $31,000. Transamerica Financial Advisors LLC acquired a new position in Lincoln National during the 4th quarter worth about $32,000. JPL Wealth Management LLC bought a new stake in Lincoln National during the 3rd quarter worth about $29,000. Los Angeles Capital Management LLC bought a new stake in Lincoln National during the 4th quarter worth about $34,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in Lincoln National in the 4th quarter valued at about $38,000. Institutional investors own 72.81% of the company’s stock.

Insider Activity

In other news, EVP Craigt T. Beazer sold 30,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the completion of the transaction, the executive vice president directly owned 103,906 shares in the company, valued at approximately $3,579,561.70. The trade was a 22.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. National Bank Financial set a $51.00 target price on shares of Lincoln National in a research note on Thursday, July 9th. Jefferies Financial Group boosted their price objective on shares of Lincoln National from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Weiss Ratings lowered Lincoln National from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Barclays raised Lincoln National from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $42.00 to $45.00 in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. cut their price target on Lincoln National from $42.00 to $40.00 and set an “underweight” rating on the stock in a research note on Thursday, May 7th. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Lincoln National has an average rating of “Hold” and an average price target of $44.79.

Lincoln National Stock Performance

LNC stock opened at $41.88 on Friday. Lincoln National Corporation has a twelve month low of $32.18 and a twelve month high of $46.82. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.65. The company has a market cap of $8.01 billion, a P/E ratio of 4.86, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The business’s fifty day moving average is $36.60 and its 200-day moving average is $37.60.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.93 billion. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.60 earnings per share. Equities research analysts forecast that Lincoln National Corporation will post 7.73 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, July 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.3%. Lincoln National’s dividend payout ratio (DPR) is 20.88%.

About Lincoln National

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.