First Citizens Bank & Trust Co. Invests $235,000 in Lincoln National Co. (NYSE:LNC)

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First Citizens Bank & Trust Co. bought a new position in shares of Lincoln National Co. (NYSE:LNC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,894 shares of the financial services provider’s stock, valued at approximately $235,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its position in Lincoln National by 1.3% in the third quarter. Envestnet Asset Management Inc. now owns 65,738 shares of the financial services provider’s stock valued at $3,965,000 after acquiring an additional 842 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Lincoln National by 1.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 820,019 shares of the financial services provider’s stock valued at $49,465,000 after acquiring an additional 14,293 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Lincoln National by 10.9% in the third quarter. Nisa Investment Advisors LLC now owns 50,983 shares of the financial services provider’s stock valued at $3,075,000 after acquiring an additional 5,000 shares during the last quarter. Meeder Asset Management Inc. grew its position in Lincoln National by 42.4% in the third quarter. Meeder Asset Management Inc. now owns 857 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 255 shares during the last quarter. Finally, Signaturefd LLC grew its position in Lincoln National by 4.1% in the third quarter. Signaturefd LLC now owns 5,804 shares of the financial services provider’s stock valued at $350,000 after acquiring an additional 229 shares during the last quarter. 81.36% of the stock is owned by institutional investors.

A number of research analysts have issued reports on LNC shares. ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Goldman Sachs Group upgraded Lincoln National from a “neutral” rating to a “buy” rating and lifted their target price for the company from $65.00 to $77.00 in a research report on Tuesday, June 25th. Barclays set a $69.00 target price on Lincoln National and gave the company a “buy” rating in a research report on Monday, August 12th. Citigroup decreased their target price on Lincoln National from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Finally, UBS Group lifted their target price on Lincoln National from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Lincoln National has an average rating of “Buy” and an average price target of $73.09.

NYSE:LNC opened at $59.53 on Monday. The stock has a market cap of $11.81 billion, a P/E ratio of 7.02, a price-to-earnings-growth ratio of 0.71 and a beta of 1.99. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.30. The stock’s 50-day moving average is $57.83 and its 200-day moving average is $61.45. Lincoln National Co. has a 1-year low of $48.07 and a 1-year high of $67.52.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.32 by $0.04. The company had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Lincoln National had a return on equity of 11.85% and a net margin of 8.74%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.02 earnings per share. As a group, equities analysts forecast that Lincoln National Co. will post 9.29 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Wednesday, October 9th. Lincoln National’s dividend payout ratio (DPR) is currently 17.45%.

Lincoln National Profile

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers variable, fixed, and indexed variable annuities.

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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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