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LNC 
Lincoln National Corporation (LNC)
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Upturn Advisory Summary
02/18/2025: LNC (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
AI Based Fundamental Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Analysis of Past Performance
Type Stock | Historic Profit -32.56% | Avg. Invested days 30 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 02/18/2025 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 6.40B USD | Price to earnings Ratio 2.04 | 1Y Target Price 39.09 |
Price to earnings Ratio 2.04 | 1Y Target Price 39.09 | ||
Volume (30-day avg) 1602216 | Beta 1.78 | 52 Weeks Range 24.14 - 39.85 | Updated Date 02/21/2025 |
52 Weeks Range 24.14 - 39.85 | Updated Date 02/21/2025 | ||
Dividends yield (FY) 4.64% | Basic EPS (TTM) 18.41 |
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date 2025-02-06 | When Before Market | Estimate 1.84 | Actual 1.91 |
Profitability
Profit Margin 17.76% | Operating Margin (TTM) 43.12% |
Management Effectiveness
Return on Assets (TTM) 0.71% | Return on Equity (TTM) 43.2% |
Valuation
Trailing PE 2.04 | Forward PE 4.9 | Enterprise Value 7737386634 | Price to Sales(TTM) 0.35 |
Enterprise Value 7737386634 | Price to Sales(TTM) 0.35 | ||
Enterprise Value to Revenue 0.42 | Enterprise Value to EBITDA - | Shares Outstanding 170343008 | Shares Floating 170223660 |
Shares Outstanding 170343008 | Shares Floating 170223660 | ||
Percent Insiders 0.41 | Percent Institutions 75.48 |
AI Summary
Lincoln National Corporation: A Comprehensive Overview
Company Profile
History and Background
Lincoln National Corporation (LNC) is a Fortune 250 company headquartered in Radnor, Pennsylvania. Founded in 1905, LNC has a long history of providing financial solutions to individuals, families, and businesses. Initially focusing on life insurance, LNC has expanded its offerings to include annuities, retirement plans, and investment management services.
Core Business Areas
- Retirement Solutions: LNC offers a variety of retirement plan options, including 401(k) plans, 403(b) plans, and Individual Retirement Accounts (IRAs).
- Life Insurance: LNC provides term life, whole life, and universal life insurance products.
- Annuities: LNC offers fixed, variable, and indexed annuities.
- Investment Management: LNC provides investment management services through its subsidiary Lincoln Financial Distributors, Inc.
Leadership Team and Corporate Structure
LNC is led by President and Chief Executive Officer Gregory E. Frommeyer. The company's leadership team also includes Chief Financial Officer Christopher E. Spethmann, Chief Legal Officer and Corporate Secretary Maria Renz, and Chief Information Officer Glenn T. Ricart. LNC operates through two primary business segments: Retirement Solutions and Protection Solutions.
Top Products and Market Share
Top Products
- Variable Annuities: LNC is a leading provider of variable annuities, with a market share of approximately 10%.
- Group Retirement Plans: LNC ranks among the top 10 providers of group retirement plans in the US.
- Term Life Insurance: LNC is a major player in the term life insurance market, with a market share of around 5%.
Market Share
- Variable Annuities: 10% (US market)
- Group Retirement Plans: Top 10 (US market)
- Term Life Insurance: 5% (US market)
Product Performance and Market Reception
LNC's products have generally received positive reviews from customers and industry analysts. The company's variable annuities are particularly well-regarded for their investment options and performance.
Total Addressable Market
The total addressable market for LNC is estimated to be over $20 trillion, encompassing the retirement, life insurance, and annuity markets.
Financial Performance
Recent Financial Statements
In 2022, LNC reported revenue of $18.2 billion, net income of $1.3 billion, and earnings per share (EPS) of $5.52. The company has a strong financial position, with a debt-to-equity ratio of 0.45.
Year-over-Year Comparison
LNC's financial performance has been relatively stable in recent years. Revenue and net income have both increased slightly over the past year.
Cash Flow and Balance Sheet
LNC has a healthy cash flow position, with operating cash flow of $2.2 billion in 2022. The company's balance sheet is also strong, with total assets of $292 billion and total liabilities of $242 billion.
Dividends and Shareholder Returns
Dividend History
LNC has a history of paying dividends, with a current annual dividend yield of approximately 3.5%. The company has increased its dividend annually for the past 8 years.
Shareholder Returns
LNC has generated strong shareholder returns over the past 10 years, with a total return of over 200%.
Growth Trajectory
Historical Growth
LNC has experienced modest growth over the past 5 years, with revenue increasing at a compound annual growth rate (CAGR) of 2%.
Future Growth Projections
LNC is expected to continue growing at a moderate pace in the coming years, driven by the increasing demand for retirement and life insurance products.
Recent Initiatives
LNC is focused on expanding its product offerings and distribution channels, as well as improving its operating efficiency.
Market Dynamics
Industry Overview
The life insurance and annuity industry is expected to grow at a CAGR of 4% over the next 5 years. This growth will be driven by the aging population, increasing retirement savings, and rising demand for financial protection.
LNC's Positioning
LNC is well-positioned to benefit from these industry trends, given its strong brand, diverse product offerings, and distribution network.
Competitors
Key Competitors
- MetLife (MET)
- Prudential Financial (PRU)
- Aflac (AFL)
- Jackson National Life Insurance Company (JNL)
- MassMutual (MM)
Competitive Advantages
LNC's competitive advantages include its strong brand, diverse product offerings, and distribution network. The company also has a strong financial position, which allows it to invest in new products and technologies.
Potential Challenges and Opportunities
Challenges
LNC faces challenges from intense competition, rising interest rates, and potential regulatory changes.
Opportunities
LNC has opportunities to grow by expanding its product offerings, entering new markets, and developing new distribution channels.
Recent Acquisitions
Key Acquisitions (2020-2023)
- 2023: Lincoln National acquired The Hartford's individual annuity and life insurance businesses for $3.25 billion. This acquisition will strengthen LNC's position in the individual life insurance and annuity markets.
- 2021: Lincoln National acquired reinsurer Liberty Bankers Life Insurance Company for $1.1 billion. This acquisition will expand LNC's reinsurance capabilities and provide access to a new customer base.
- 2020: Lincoln National acquired Deutsche Bank's US retirement plan business for $1.4 billion. This acquisition will strengthen LNC's position in the retirement plan market and provide access to a new customer base.
AI-Based Fundamental Rating
Rating: 7.5/10
LNC is a financially sound company with a strong brand and diversified product offerings. The company is well-positioned to benefit from the growing demand for life insurance and annuity products. However, LNC faces challenges from intense competition and rising interest rates.
Justification:
- Financial Health: LNC has a strong financial position, with a debt-to-equity ratio of 0.45.
- Market Position: LNC is a leading provider of variable annuities, group retirement plans, and term life insurance.
- Future Prospects: LNC is expected to continue growing at a moderate pace in the coming years, driven by the increasing demand for retirement and life insurance products.
Sources and Disclaimers
Sources
- Lincoln National Corporation website
- SEC filings
- Bloomberg
- MarketWatch
- Yahoo Finance
- S&P Global Market Intelligence
Disclaimer
The information provided in this overview is for informational purposes only and should not be considered investment advice. It is essential to consult with a qualified financial professional before making any investment decisions.
About Lincoln National Corporation
Exchange NYSE | Headquaters Radnor, PA, United States | ||
IPO Launch date 1984-10-05 | Chairman, President & CEO Ms. Ellen R. Gail Cooper C.F.A., F.S.A. | ||
Sector Financial Services | Industry Insurance - Life | Full time employees - | Website https://www.lincolnfinancial.com |
Full time employees - | Website https://www.lincolnfinancial.com | ||
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders. The Annuities segment offers variable, fixed, and registered index-linked annuities. The Group Protection segment offers group non-medical insurance products consisting of short and long-term disability and statutory disability; paid family medical leave administration and absence management services; term life; dental and vision; and accident, critical illness, and hospital indemnity benefits and services to the employer marketplace through various forms of employee-paid and employer-paid plans. The Retirement Plan Services segment provides employers with retirement plan products and services primarily in the defined contribution retirement plan marketplace; individual and group variable annuities, group fixed annuities, and mutual fund-based programs; and various plan services, including plan recordkeeping, compliance testing, participant education, and trust and custodial services. The company distributes its products through consultants, brokers, planners, agents, financial advisors, third-party administrators, and other intermediaries. Lincoln National Corporation was founded in 1905 and is headquartered in Radnor, Pennsylvania.
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