Principal Financial Group Inc. Trims Stock Holdings in Lincoln National Corporation $LNC

Principal Financial Group Inc. lowered its holdings in Lincoln National Corporation (NYSE:LNC) by 16.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,332,584 shares of the financial services provider’s stock after selling 460,864 shares during the period. Principal Financial Group Inc. owned approximately 1.23% of Lincoln National worth $94,073,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of LNC. State Street Corp raised its holdings in Lincoln National by 0.7% during the 2nd quarter. State Street Corp now owns 6,199,526 shares of the financial services provider’s stock valued at $214,504,000 after acquiring an additional 40,676 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Lincoln National by 21.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,952,166 shares of the financial services provider’s stock valued at $240,051,000 after purchasing an additional 1,035,505 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Lincoln National by 20.0% during the 2nd quarter. First Trust Advisors LP now owns 4,645,447 shares of the financial services provider’s stock valued at $160,732,000 after purchasing an additional 774,721 shares during the period. LSV Asset Management lifted its holdings in Lincoln National by 16.9% during the 2nd quarter. LSV Asset Management now owns 2,736,180 shares of the financial services provider’s stock worth $94,672,000 after purchasing an additional 394,584 shares in the last quarter. Finally, Norges Bank bought a new position in Lincoln National in the 2nd quarter worth about $87,362,000. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln National Price Performance

Shares of NYSE:LNC opened at $42.43 on Tuesday. The company’s fifty day moving average price is $43.26 and its 200-day moving average price is $41.07. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 3.81, a PEG ratio of 0.44 and a beta of 1.31. Lincoln National Corporation has a one year low of $27.58 and a one year high of $46.82.

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 12th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, January 12th. This represents a $1.80 annualized dividend and a yield of 4.2%. Lincoln National’s payout ratio is 16.16%.

Insider Transactions at Lincoln National

In other news, Director Owen Ryan bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average price of $42.17 per share, for a total transaction of $84,340.00. Following the transaction, the director directly owned 12,000 shares of the company’s stock, valued at $506,040. This represents a 20.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Christopher Kennedy sold 3,519 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $44.15, for a total value of $155,363.85. Following the completion of the sale, the executive vice president directly owned 118,985 shares of the company’s stock, valued at approximately $5,253,187.75. This represents a 2.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LNC. Morgan Stanley reiterated an “overweight” rating on shares of Lincoln National in a research report on Monday, December 15th. Jefferies Financial Group upped their target price on shares of Lincoln National from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Zacks Research cut shares of Lincoln National from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 4th. Piper Sandler boosted their price target on shares of Lincoln National from $42.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Finally, TD Cowen reaffirmed a “hold” rating on shares of Lincoln National in a report on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lincoln National has a consensus rating of “Hold” and a consensus price target of $46.25.

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.