That is a pretty big hit. Hope you weren't in it, or, if so, not in a big way.
I have a goodly among of PRU, which had a pretty weak quarter announced Tuesday. It wasn't hit then at all, but when Lincoln announced late Wed, PRU lost 7%-10% by Thursday open. It has made all of that up as of right now, excepting maybe a buck.
I certainly feel the same way as you. I read a lot of PRU's report. I am not able at all to get a sense of which swap or hedge MAY have offset which risk, the size, etc.--and I am not willing to put 5-10 hours in to try and figure that out. I bought PRU for its dividend, this year, in the nineties. It, too, is yielding nearly 5%. I did not buy it as a growth stock. NOTE: That does NOT mean, for those paying attention, that I bought for yield only. I expect price appreciation over time, but at a pretty modest rate. It's sort of like my Pfizer of insurance cos.-- Healthy dividend, modest growth over time, and, hopefully no big unpleasant surprises.
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Lincoln National Corporation (LNC) reported today, a massive loss that sends the stock down over 30%. If you suppose that the dividend will keep being paid, it looks pretty good at a 5% yield now. |
