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Here's Why Lincoln National Can Be a Smart Addition to Your Portfolio
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Key Takeaways
Lincoln National has risen 29.4% YTD, far ahead of the industry's 1.2% average gain.
Annuity sales grew 17.2% in 1H25, while group protection income rose 30.5% year over year.
LNC ended June 2025 with $7.1B in cash, up 23.1% from 2024, and offers a 4.4% dividend yield.
Lincoln National Corporation (LNC - Free Report) is strategically positioned for growth, supported by strong performance in its Annuities and Group Protection segments, the introduction of new products and enhancement of the existing ones, effective expense management and a solid financial foundation. LNC has risen 29.4% in the year-to-date period, outperforming the industry’s average gain of 1.2%.
Headquartered in Radnor, PA, the company holds a market capitalization of $7.8 billion. Lincoln National is a diversified life insurance and investment management company that provides a wide range of wealth accumulation, wealth protection, group protection and retirement products and solutions. The company operates multiple insurance businesses through four business segments: Annuities, Life Insurance, Group Protection and Retirement Plan Services. Its trailing 12-month P/B ratio of 0.91X is lower than the industry average of 1.93X.
Courtesy of solid prospects, LNC currently carries a Zacks Rank #2 (Buy).
Where Do Estimates for LNC Stand?
The Zacks Consensus Estimate for Lincoln National’s 2025 earnings is pegged at $7.48 per share, indicating a 5.8% year-over-year rise. In the past 30 days, it has witnessed one upward estimate revision against none in the opposite direction. Furthermore, the consensus mark for revenues is pegged at $18.9 billion for 2025. It beat earnings estimates in each of the past four quarters, with an average surprise of 15.7%.
Lincoln National Corporation Price and EPS Surprise
Lincoln National's revenues are supported by a balanced business mix, higher insurance premiums and fee income. Its enhanced and diversified in-force book, improving average life insurance in-force and margin expansion initiatives, positions the bottom line well for growth.
LNC’s annuity business benefits from its wide range of products that cater to consumer preferences. In the first half of 2025, the segment’s total sales grew 17.2% year over year to $7.8 billion. It is making notable progress by evolving its annuity business toward a more balanced mix with a higher proportion of spread-based products.
Its Group Protection business continues to see improved growth and profitability trends. Income from operations improved 30.5% year over year in the first half of 2025. Prudent acquisitions and renewals in this segment and improving underwriting results will further drive its results. The segment’s operating margin improved 180 basis points in the first half of 2025. Increasing scale, broader distribution access and expanded capabilities are expected to provide its sales figures an impetus.
Lincoln aims to accelerate future growth by strengthening its distribution leadership, leveraging scale and long-standing broker relationships to expand into broader markets and reach more retirement-focused customers. The strategy emphasizes a customer-first model that empowers partners with advanced tools, insights and streamlined processes, enhancing both productivity and client engagement.
The company focuses on enhancing core capital generation by allocating resources to areas that strengthen competitive advantages, expand the strategic moat and drive long-term growth in free cash flow. LNC's Indexed Universal Life offerings are experiencing continued momentum, supported by an expanding addressable market through enhanced products, broader distribution access and new digital tools that improve client experience.
Lincoln National maintains a solid financial foundation, bolstered by a rising cash balance and declining debt levels. As of June 30, 2025, cash and invested cash were $7.1 billion, which rose 23.1% from the 2024-end level. This strong financial position enables the company to pursue growth opportunities and strategically distribute capital. Its dividend yield of 4.4% remains higher than the industry’s average of 3.3%.
The Zacks Consensus Estimate for Houlihan Lokey’s current-year earnings of $7.67 per share has witnessed three upward revisions in the past 60 days against none in the opposite direction. Houlihan Lokey beat earnings estimates in each of the trailing four quarters, with the average surprise being 17.1%. The consensus estimate for current-year revenues is pegged at $2.7 billion, implying 13.1% year-over-year growth.
The Zacks Consensus Estimate for Heritage Insurance’s current-year earnings of $4.10 per share has witnessed two upward revisions in the past 60 days against no movement in the opposite direction. Heritage Insurance beat earnings estimates in each of the trailing four quarters, with the average surprise being 360.7%. The consensus estimate for current-year revenues is pegged at $842.2 million, calling for 3.1% year-over-year growth.
The Zacks Consensus Estimate for Acadian Asset Management’s current-year earnings is pegged at $3.72 per share and has witnessed one upward revision in the past 60 days against no movement in the opposite direction. Acadian Asset Management beat earnings estimates in three of the trailing four quarters and met once, with the average surprise being 15.7%. The consensus estimate for current-year revenues is pegged at $620.9 million, calling for 22.8% year-over-year growth.
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Here's Why Lincoln National Can Be a Smart Addition to Your Portfolio
Key Takeaways
Lincoln National Corporation (LNC - Free Report) is strategically positioned for growth, supported by strong performance in its Annuities and Group Protection segments, the introduction of new products and enhancement of the existing ones, effective expense management and a solid financial foundation. LNC has risen 29.4% in the year-to-date period, outperforming the industry’s average gain of 1.2%.
Headquartered in Radnor, PA, the company holds a market capitalization of $7.8 billion. Lincoln National is a diversified life insurance and investment management company that provides a wide range of wealth accumulation, wealth protection, group protection and retirement products and solutions. The company operates multiple insurance businesses through four business segments: Annuities, Life Insurance, Group Protection and Retirement Plan Services. Its trailing 12-month P/B ratio of 0.91X is lower than the industry average of 1.93X.
Courtesy of solid prospects, LNC currently carries a Zacks Rank #2 (Buy).
Where Do Estimates for LNC Stand?
The Zacks Consensus Estimate for Lincoln National’s 2025 earnings is pegged at $7.48 per share, indicating a 5.8% year-over-year rise. In the past 30 days, it has witnessed one upward estimate revision against none in the opposite direction. Furthermore, the consensus mark for revenues is pegged at $18.9 billion for 2025. It beat earnings estimates in each of the past four quarters, with an average surprise of 15.7%.
Lincoln National Corporation Price and EPS Surprise
Lincoln National Corporation price-eps-surprise | Lincoln National Corporation Quote
LNC Stock’s Growth Drivers
Lincoln National's revenues are supported by a balanced business mix, higher insurance premiums and fee income. Its enhanced and diversified in-force book, improving average life insurance in-force and margin expansion initiatives, positions the bottom line well for growth.
LNC’s annuity business benefits from its wide range of products that cater to consumer preferences. In the first half of 2025, the segment’s total sales grew 17.2% year over year to $7.8 billion. It is making notable progress by evolving its annuity business toward a more balanced mix with a higher proportion of spread-based products.
Its Group Protection business continues to see improved growth and profitability trends. Income from operations improved 30.5% year over year in the first half of 2025. Prudent acquisitions and renewals in this segment and improving underwriting results will further drive its results. The segment’s operating margin improved 180 basis points in the first half of 2025. Increasing scale, broader distribution access and expanded capabilities are expected to provide its sales figures an impetus.
Lincoln aims to accelerate future growth by strengthening its distribution leadership, leveraging scale and long-standing broker relationships to expand into broader markets and reach more retirement-focused customers. The strategy emphasizes a customer-first model that empowers partners with advanced tools, insights and streamlined processes, enhancing both productivity and client engagement.
The company focuses on enhancing core capital generation by allocating resources to areas that strengthen competitive advantages, expand the strategic moat and drive long-term growth in free cash flow. LNC's Indexed Universal Life offerings are experiencing continued momentum, supported by an expanding addressable market through enhanced products, broader distribution access and new digital tools that improve client experience.
Lincoln National maintains a solid financial foundation, bolstered by a rising cash balance and declining debt levels. As of June 30, 2025, cash and invested cash were $7.1 billion, which rose 23.1% from the 2024-end level. This strong financial position enables the company to pursue growth opportunities and strategically distribute capital. Its dividend yield of 4.4% remains higher than the industry’s average of 3.3%.
Other Key Picks
Some other top-ranked stocks in the broader finance space are Houlihan Lokey, Inc. (HLI - Free Report) , Heritage Insurance Holdings Inc. (HRTG - Free Report) and Acadian Asset Management Inc. (AAMI - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Houlihan Lokey’s current-year earnings of $7.67 per share has witnessed three upward revisions in the past 60 days against none in the opposite direction. Houlihan Lokey beat earnings estimates in each of the trailing four quarters, with the average surprise being 17.1%. The consensus estimate for current-year revenues is pegged at $2.7 billion, implying 13.1% year-over-year growth.
The Zacks Consensus Estimate for Heritage Insurance’s current-year earnings of $4.10 per share has witnessed two upward revisions in the past 60 days against no movement in the opposite direction. Heritage Insurance beat earnings estimates in each of the trailing four quarters, with the average surprise being 360.7%. The consensus estimate for current-year revenues is pegged at $842.2 million, calling for 3.1% year-over-year growth.
The Zacks Consensus Estimate for Acadian Asset Management’s current-year earnings is pegged at $3.72 per share and has witnessed one upward revision in the past 60 days against no movement in the opposite direction. Acadian Asset Management beat earnings estimates in three of the trailing four quarters and met once, with the average surprise being 15.7%. The consensus estimate for current-year revenues is pegged at $620.9 million, calling for 22.8% year-over-year growth.