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Lincoln National (LNC) Ties Up To Offer Varied DB Services
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Lincoln National Corporation (LNC - Free Report) recently joined forces with the benefit-plan services provider, BPAS, in a bid to offer an integrated solution to the former’s clients. Named PensionEase, the defined benefit (DB) plan solution can be of great use to LNC clients who hold both defined contribution (DC) and DB plans.
BPAS will extend a comprehensive suite of DB administrative services to the abovementioned clients. The services comprise recordkeeping, a tailored web portal and participant-direct services.
This, in turn, is expected to enable the DC and DB plan clients of Lincoln National to utilize a single sign-on solution and gain access to enhanced actuarial, consulting, trust/custody and benefit-payer services. Needless to say, LNC’s massive client base, which it caters to through its DC and DB plans, will be benefited from effective retirement plans as a result of the latest partnership.
Taking the help of innovative solutions like PensionEase is expected to lure more customers in availing the DC and DB plans of Lincoln National. This, in turn, is likely to benefit the revenues of LNC’s Retirement Plan Services segment through which it caters to the changing needs of the DC and DB retirement plans marketplace.
The recent tie-up can be termed as time opportune as well. An aging U.S. population substantiates the keen eye that Lincoln National keeps on providing a comprehensive retirement plan for individuals.
Lincoln National remains active in constant product introductions and enhancement of the existing ones. The life insurer also ties up with numerous renowned organizations to modernize its capabilities and solidify a nationwide foothold. In December 2022, LNC collaborated with the asset management subsidiary of JPMorgan Chase & Co. (JPM - Free Report) so that LNC can benefit from the portfolio management capabilities of the latter.
Shares of Lincoln National have gained 14.1% year to date compared with the industry’s 10.4% rally.
The bottom line of Voya Financial outpaced estimates in each of the last four quarters, the average surprise being 38.68%. The Zacks Consensus Estimate for VOYA’s 2023 earnings suggests an improvement of 4.2%, while the same for revenues indicates growth of 10.6% from the corresponding year-ago reported figures. The consensus mark for VOYA’s 2023 earnings has moved north by 1.9% in the past seven days.
Brighthouse Financial’s bottom line outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 2.07%. The Zacks Consensus Estimate for BHF’s 2023 earnings indicates an 24.8% improvement from the prior-year figure. BHF boasts an impressive Value Score of B.
Shares of Voya Financial and Brighthouse Financial have gained 24% and 17%, respectively, year to date.
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Lincoln National (LNC) Ties Up To Offer Varied DB Services
Lincoln National Corporation (LNC - Free Report) recently joined forces with the benefit-plan services provider, BPAS, in a bid to offer an integrated solution to the former’s clients. Named PensionEase, the defined benefit (DB) plan solution can be of great use to LNC clients who hold both defined contribution (DC) and DB plans.
BPAS will extend a comprehensive suite of DB administrative services to the abovementioned clients. The services comprise recordkeeping, a tailored web portal and participant-direct services.
This, in turn, is expected to enable the DC and DB plan clients of Lincoln National to utilize a single sign-on solution and gain access to enhanced actuarial, consulting, trust/custody and benefit-payer services. Needless to say, LNC’s massive client base, which it caters to through its DC and DB plans, will be benefited from effective retirement plans as a result of the latest partnership.
Taking the help of innovative solutions like PensionEase is expected to lure more customers in availing the DC and DB plans of Lincoln National. This, in turn, is likely to benefit the revenues of LNC’s Retirement Plan Services segment through which it caters to the changing needs of the DC and DB retirement plans marketplace.
The recent tie-up can be termed as time opportune as well. An aging U.S. population substantiates the keen eye that Lincoln National keeps on providing a comprehensive retirement plan for individuals.
Lincoln National remains active in constant product introductions and enhancement of the existing ones. The life insurer also ties up with numerous renowned organizations to modernize its capabilities and solidify a nationwide foothold. In December 2022, LNC collaborated with the asset management subsidiary of JPMorgan Chase & Co. (JPM - Free Report) so that LNC can benefit from the portfolio management capabilities of the latter.
Shares of Lincoln National have gained 14.1% year to date compared with the industry’s 10.4% rally.
Image Source: Zacks Investment Research
LNC currently has a Zacks Rank #5 (Strong Sell).
Stocks to Consider
Some better-ranked stocks from the insurance space include Voya Financial, Inc. (VOYA - Free Report) and Brighthouse Financial, Inc. (BHF - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The bottom line of Voya Financial outpaced estimates in each of the last four quarters, the average surprise being 38.68%. The Zacks Consensus Estimate for VOYA’s 2023 earnings suggests an improvement of 4.2%, while the same for revenues indicates growth of 10.6% from the corresponding year-ago reported figures. The consensus mark for VOYA’s 2023 earnings has moved north by 1.9% in the past seven days.
Brighthouse Financial’s bottom line outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 2.07%. The Zacks Consensus Estimate for BHF’s 2023 earnings indicates an 24.8% improvement from the prior-year figure. BHF boasts an impressive Value Score of B.
Shares of Voya Financial and Brighthouse Financial have gained 24% and 17%, respectively, year to date.