LNC - Lincoln National trades lower despite growth in Q4 net income revenue

Lincoln National (LNC -4.1%) net income for Q4 stood at $220M or $1.2/share compared to net income of $143M or $0.74/share in year ago quarter. FY net income stood at $1.4B or $7.43/share compared to $499M or $2.56/share in prior year. For Q4, annuities sales of $3B were up 20% while for full year it was higher by 4%; Retirement Plan Services average account values of $98B (+17%), life insurance sales of $254M (+121%) while FY sales grew 5%. Q4 Group Protection insurance premiums increased 6% Y/Y and 4% for the full year. During the quarter, the company reported $650M in shares repurchased which includes $500M using the proceeds from the block reinsurance transaction executed in Q3. As of Dec. 31, 2021, BV/share, including AOCI, decreased 3% from the prior-year period to $114.41; BV/share, excluding AOCI, increased 9% from the prior-year period to $78.05. Wall Street Analysts rating stands at Buy.

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Lincoln National trades lower despite growth in Q4 net income, revenue