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

Key Points

• Principal Financial Group trimmed its Lincoln National stake by 1.4% in the first quarter, selling 31,678 shares and ending with about 2.28 million shares valued at roughly $81 million.
• Lincoln National also saw notable insider selling, as EVP Craigt T. Beazer sold 30,000 shares on June 5 for about $1.03 million, cutting his direct ownership by 22.4%.
• The company reported Q1 EPS of $1.66, topping expectations, and declared a quarterly dividend of $0.45 per share, implying an annual yield of about 4.3%; analysts currently rate the stock a consensus Hold with an average target of $44.79.

Principal Financial Group Inc. decreased its stake in Lincoln National Corporation (NYSE:LNC - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,280,576 shares of the financial services provider's stock after selling 31,678 shares during the period. Principal Financial Group Inc. owned approximately 1.19% of Lincoln National worth $80,960,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LNC. Chicago Partners Investment Group LLC acquired a new stake in Lincoln National in the 1st quarter worth $221,000. International Assets Investment Management LLC raised its position in shares of Lincoln National by 2.8% during the first quarter. International Assets Investment Management LLC now owns 23,132 shares of the financial services provider's stock valued at $815,000 after buying an additional 631 shares during the last quarter. Diversify Wealth Management LLC acquired a new position in shares of Lincoln National during the first quarter valued at about $894,000. Fifth Third Bancorp lifted its stake in shares of Lincoln National by 291.9% in the first quarter. Fifth Third Bancorp now owns 103,301 shares of the financial services provider's stock valued at $3,667,000 after buying an additional 76,942 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in shares of Lincoln National by 10.2% in the first quarter. Hsbc Holdings PLC now owns 1,499,854 shares of the financial services provider's stock valued at $53,157,000 after buying an additional 139,267 shares during the period. Institutional investors own 72.81% of the company's stock.

Insider Transactions at Lincoln National

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

Lincoln National Stock Performance

Shares of NYSE:LNC opened at $41.88 on Friday. The business's fifty day moving average price is $36.60 and its two-hundred day moving average price is $37.60. Lincoln National Corporation has a fifty-two week low of $32.18 and a fifty-two week high of $46.82. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 4.86, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.25 and a quick ratio of 0.25.

Lincoln National (NYSE:LNC - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.08. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The company had revenue of $4.87 billion during the quarter, compared to analysts' expectations of $4.93 billion. During the same period last year, the business earned $1.60 earnings per share. The business's revenue was up 13.1% on a year-over-year basis. As a group, analysts predict that Lincoln National Corporation will post 7.73 EPS for the current fiscal year.

Lincoln National Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on LNC shares. JPMorgan Chase & Co. lowered 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. Barclays raised Lincoln National from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $42.00 to $45.00 in a report on Monday, July 6th. Jefferies Financial Group boosted their price objective on Lincoln National from $56.00 to $57.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Mizuho upped their target price on Lincoln National from $48.00 to $51.00 and gave the company an "outperform" rating in a research note on Thursday, July 9th. Finally, Keefe, Bruyette & Woods raised their target price on Lincoln National from $44.00 to $46.00 and gave the stock an "outperform" rating in a research report on Monday. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $44.79.

Lincoln National Company Profile

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.

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