The Dividend Daily

Insurance and investment services company Lincoln National Corporation (LNC) said Thursday that its third quarter profit rose from last year, despite lower revenue.

The Philadelphia-based company reported third quarter net income of $153.3 million, or 44 cents per share, compared with $148.4 million, or 58 cents per share, in the year-ago period.

Operating income fell to 84 cents per share, while revenue fell 8% from last year, to $2.08 billion. On average, Wall Street analysts expected lower operating income of 76 cents per share, albeit on much higher revenue of $2.44 billion.

Lincoln National shares rose $1.44, or +6.5%, in premarket trading Thursday.

The Bottom Line
We had removed shares of LNC back last Sept.29, when the stock traded at $49.00. The company has a .18% dividend yield, based on last night’s closing stock price of $22.25. The stock has technical support in the $18-$20 price area. If the shares can continue its recent momentum, we see overhead resistance around the $26-$27 price levels. We would remain on the sidelines for now.

Lincoln National Corporation (LNC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.