Lincoln National Corp. today reported third-quarter earnings of $402 million, or $1.41 per diluted common share, more than doubling the $153 million, or 47 cents a share, posted for the same three months of last year.
The news came after trading ended for the day. Lincoln’s shares closed at $25.43, up 64 cents on the New York Stock Exchange.
Lincoln repurchased 4.2 million shares of stock during the quarter at a cost of about $100 million.
The Radnor, Pa.-based financial services provider was founded in Fort Wayne in 1905. Lincoln employed about 2,000 here as of September.
Dennis Glass, president and CEO, said Lincoln’s gains reflect management’s strategic decisions.
“We are aggressively investing to further build our franchise, while at the same time maintaining our balance sheet strength and flexibility,” he said in a statement.