Insurance company, Lincoln National Corporation(LNC) reported increased earnings for the fourth quarter, beating analysts estimates on Thursday.
The Radnor, PA based company reported fourth quarter net income of $320 million, or $1.14 per share, compared to a net loss of -$541 million, or -$1.82 per share last year. Excluding special items, earnings were $310, or $1.10 per share for the quarter, up from $227 million, or 91 cents per share last year. Analysts expected to see earnings of $1.06 per share.
Revenue for the quarter was $2.947 billion, up from $2.715 billion last year.
The company’s CEO Dennis Glass commented, “the strength of our 2012 results reflected the benefits of ongoing investments in our businesses, actions to respond to the low interest rate environment and maintaining an active capital management program.. we enhanced new business profitability through product design and pricing changes, took additional steps related to expenses and interest margins, and would expect these changes to continue to benefit 2013 results.”
Lincoln National shares were mostly flat during premarket trading Thursday. The stock has increased 24% in the past year.
The Bottom Line
Shares of Lincoln National Corporation(LNC) have a 1.63% yield, based on Wednesday’s closing price of $29.50.
Lincoln National Corporation(LNC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.