Why Lincoln National Stock Dropped 17.8% This Week
Lincoln National (NYSE: LNC) had another rough week as its share price fell 17.8% from last Friday's close through 2 p.m. ET on Friday, according to S&P Global Market Intelligence. The insurance stock is down about 53% year to date, trading at just over $31 per share as of Dec. 9.
The market was down slightly this week as the Dow Jones Industrial Average fell 2.1%, the S&P 500 was down 2.7%, and the Nasdaq Composite was off 3.3% this week, as of 2 p.m. ET Friday.
Lincoln National continues to have fallout from a subpar third-quarter earnings report. The stock price dropped more than 30% on Nov. 3 upon the release of the report, which saw the insurer and asset manager post a net loss of $2.6 billion, or negative $15.17 per diluted share, compared to earnings of $318 million, or $1.68 per diluted share a year ago.
Source Fool.com
