After markets closed Thursday, Lincoln National (LNC) said it was promoting Randal Freitag to chief financial officer to replace Fred Crawford, who’s moving into a new role as head of corporate development and investments.
“(The) internal promotion is a positive … we don’t expect a significant transition period given that the new CFO is familiar with LNC’s operations,” wrote Sandler O’Neill analysts in a Friday morning note to clients.
They also re-affirmed a Buy rating on the stock and $32 price target.
Lincoln National’s stock was up slightly, by about 0.4%, or 10 cents, to $28.15 a share at 10:06 a.m. eastern time.
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