Bill Miller built his reputation at Legg Mason by beating the S&P 500 for 15 consecutive years using a concentrated, contrarian, value approach.
LNC's shift to spread-based annuities, rising life sales and capital strength support growth, though leverage remains a key risk.
Lincoln National remains fundamentally strong, with diversified segments and prudent investment management supporting growth despite macroeconomic volatility. LNC's Q1 2026 operating revenue rose 13.1% YoY to $5.31B, while improved margins and reduced expenses reflect effective strategic prioritization. Valuation is compelling: LNC trades at a 4.04x P/E and 0.34x P/S, both below historical averages, opening new buying opportunities.
| Insurance Industry | Financials Sector | Ellen R. Gail Cooper CEO | LSE Exchange | 534187109 CUSIP |
| US Country | 9,423 Employees | 10 Jul 2026 Last Dividend | 22 Jun 1999 Last Split | 5 Oct 1984 IPO Date |
Lincoln National Corporation is a prominent figure in the insurance and retirement sectors within the United States, operating via its subsidiaries. The company has partitioned its operations into four main segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. Each segment is designed to cater to diverse needs ranging from life coverage and annuity products to group protection benefits and retirement planning solutions. Founded in 1905 and with its headquarters in Radnor, Pennsylvania, Lincoln National Corporation has developed a wide distribution network that includes consultants, brokers, planners, agents, financial advisors, third-party administrators, and other intermediaries.