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Lincoln National Shares Lower After Co. Reports 3Q Loss Lincoln National Shares Lower After Co. Reports 3Q Loss Dow Jones By Stephen Nakrosis Lincoln National Corp. (LNC) shares fell Thursday, a day after the company reported a loss for the third quarter. At 11:43 a.m. ET, shares of the financial services company had fallen 8.3% to trade at $56.56. Volume topped 1.9 million shares, above the 65 day average volume of some 1.4 million. Year to date, shares are up over 10%. After the bell Wednesday, the company reported a loss of $161 million, or 83 cents a share, compared to a profit of $490 million, or $2.24 a share, a year ago. Lincoln National also said it was raising its quarterly dividend 8% to 40 cents a share. "Appropriate adjustments to our assumptions, including interest rates, as part of our annual review, and fluctuations in key earnings drivers resulted in a significant impact on third quarter results," Chief Executive Dennis Glass said. "Importantly, we continue to see momentum in key strategic initiatives, including strong sales growth and further expense improvements." Lincoln Financial Group is the marketing name for Lincoln National Corp. and its affiliates. |
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