With an annual dividend yield of 5.21%, Lincoln Nationwide Company (NYSE:LNC) is included among the many 10 Best Dividend Stocks with 5%+ Yields and Growing Cash Flows.
On Might 14, UBS raised its worth advice on Lincoln Nationwide Company (NYSE:LNC) to $39 from $37. It reiterated a Impartial score on the shares. The agency mentioned it up to date its mannequin following the corporate’s Q1 earnings report.
Lincoln Monetary Group mentioned first-quarter outcomes mirrored continued execution throughout the enterprise. Chairman, President, and CEO Ellen Cooper said that adjusted working revenue elevated 16%, marking the corporate’s seventh consecutive quarter of year-over-year development. She added that Lincoln stays centered on strengthening its capital place, bettering its working mannequin, and driving worthwhile development throughout its companies.
Cooper additionally pointed to adjustments inside the annuities section. She mentioned complete gross sales reached $3.9B, with spread-based merchandise making up 64% of gross sales as the corporate continues working towards a extra balanced enterprise combine with decrease market sensitivity. She added that variable annuity gross sales declined from the prior yr, which aligned with Lincoln’s longer-term technique to scale back publicity to market volatility.
Within the life insurance coverage section, Cooper mentioned first-quarter gross sales rose greater than 30% yr over yr to $129M. She famous that the stronger gross sales momentum would take time to contribute meaningfully to earnings and free money movement.
Govt Vice President and CFO Christopher Neczypor mentioned the quarter’s outcomes had been supported by underwriting efficiency and funding revenue. He said that adjusted working revenue out there to frequent stockholders totaled $326M, or $1.66 per diluted share. Neczypor additionally famous that the quarter included two normalizing gadgets, together with various funding efficiency and a one-time $7M unfavorable tax-related affect.
Lincoln Nationwide Company (NYSE:LNC) is a holding firm that operates insurance coverage and retirement companies via subsidiary firms. Its operations are organized into 4 segments: Annuities, Life Insurance coverage, Group Safety, and Retirement Plan Companies.
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