Lincoln National Corp.’s lack of aggressiveness in the life market has led to soft sales and light earnings, says A.G. Edwards analyst Jeff Hopson. [@@]
Edwards has reduced its earnings per share estimates for Lincoln, Philadelphia, by $0.10, to $4.10, this year and by $0.13, to $4.50, for 2006.
Despite lighter earnings, Hopson says in a note to investors that he is encouraged overall.
“The company is bringing in assets that will eventually produce earnings, and they are remaining prudent in response to intense competition,” he says.