Lincoln National Corporation (LNC) Stock Price & Analysis
Lincoln National Corporation (LNC) closed at USD 41.11 on Thursday, October 22, 2026, up 1.78% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 40.39; the Oct 22, 2026 session ranged USD 39.96–41.12 on volume of 1,881,289 shares. Market capitalization is $7.87B, with a 52-week range of USD 32.18–47.67 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:26 UTC.
Also available as compact Markdown for AI agents: nexqual.com/LNC.md
Key facts (LNC)
- Last four reported quarters (through Jun 30, 2026): revenue $19.3B, net income $2.36B (12.2% margin) (SEC filings).
- Valuation: P/E 3.3x (avg 4.3x at the last 2 fiscal year-ends), net cash $3.30B.
- 2 of 80 tracked superinvestors hold LNC (13F, Q2 2026): 0 new, 1 added, 1 reduced, 0 unchanged.
- Analysts: Hold (mean 2.54 on a 1–5 scale) (13 analysts), mean target USD 47.83 (range 35–57).
- Total return with dividends: 1Y +9.4% vs S&P 500 +14.9%; 5Y -29.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 1.95, revenue estimate $4.98B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (LNC)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $17.7B | $18.8B | $11.6B | $18.4B | $18.2B | $19.3B |
| Net income | $3.78B | $1.36B | -$752M | $3.27B | $1.18B | $2.36B |
| EPS (diluted) | $19.96 | $7.78 | -$4.92 | $18.41 | $5.83 | — |
| Net margin | 21.3% | 7.2% | -6.5% | 17.8% | 6.5% | 12.2% |
| Revenue growth | +1.6% | +6.2% | -38.1% | +58.4% | -1.2% | — |
| Cash + short-term investments | $2.61B | $3.34B | $3.37B | $5.80B | $9.50B | — |
| Total debt | $6.92B | $6.83B | $5.95B | $6.16B | $6.27B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (LNC)
P/E 3.3x · P/S 0.4x · EV/Sales 0.2x · P/B 0.7x · Earnings yield 29.97% · Dividend yield (paid, TTM) 4.37% · Net cash $3.30B · EV $4.57B
P/E at fiscal year-ends: Dec 2025 7.0x, Dec 2024 1.7x.
Superinvestors (SEC 13F-HR, Q2 2026) (LNC)
2 of 80 tracked investors hold LNC. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Bill Miller | Miller Value Partners | 5.04% | $21.3M | Added +5.7% |
| First Eagle Investment | First Eagle Investment Management | 0.02% | $12.3M | Reduced -18.6% |
Analysts (LNC)
Consensus Hold (mean 2.54 on a 1–5 scale), 13 analysts; mean target USD 47.83 (low 35, high 57).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | JP Morgan | Target lowered | Underweight | $49 → $47 |
| 2026-10-12 | Wells Fargo | Target raised | Overweight | $52 → $54 |
| 2026-10-09 | Keefe, Bruyette & Woods | Target lowered | Outperform | $51 → $50 |
| 2026-10-07 | Mizuho | Target lowered | Outperform | $53 → $49 |
| 2026-10-07 | Barclays | Target raised | Overweight | $45 → $48 |
| 2026-10-07 | Evercore ISI Group | Target lowered | In-Line | $52 → $51 |
| 2026-10-06 | UBS | Target raised | Neutral | $44 → $46 |
| 2026-10-05 | Morgan Stanley | Target lowered | Overweight | $50 → $47 |
| 2026-08-24 | Morgan Stanley | Target raised | Overweight | $40 → $50 |
| 2026-07-31 | Mizuho | Target raised | Outperform | $51 → $53 |
| 2026-07-31 | Keefe, Bruyette & Woods | Target raised | Outperform | $46 → $51 |
| 2026-07-22 | TD Cowen | Target raised | Hold | $37 → $42 |
Total return (dividends reinvested) (LNC)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +9.4% | -29.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +9.4% | -6.7% |
| Volatility (annualized) | 33.7% | 42.9% |
| Max drawdown | -29.1% (Jan 2026→Mar 2026) | -73.0% (Oct 2021→May 2023) |
Companies that name LNC in their SEC reports
| Relationship to LNC | Company | Filing | Sentence |
|---|---|---|---|
| partner | Voya Financial, Inc. (VOYA) | 10-K Feb 20, 2026 | “Reinsurance recoverable, net of the allowance for credit losses, related to the reinsurance agreement with Lincoln was $0.8 billion and $0.9 billion as of December 31, 2025 and 2024, respectively, on the Consolidated Balance Sheets.” |
LNC analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $1.95 | $2.02 | -3.1% | $4.98B | 13 |
| Next quarter (ends Dec 2026) | $2.05 | $2.01 | +2.2% | $5.00B | 11 |
| Current fiscal year (ends Dec 2026) | $7.90 | $7.65 | +3.2% | $19.79B | 13 |
| Next fiscal year (ends Dec 2027) | $8.72 | $8.40 | +3.8% | $20.54B | 13 |
LNC options: expected move
Options price a move of about ±9.4% (±$3.78) by Nov 20, 2026, which includes earnings on Nov 5, 2026.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 40.4% | ±9.4% |
| Dec 18, 2026 | 56 | 35.8% | ±11.7% |
| Jan 15, 2027 | 84 | 33.2% | ±13.5% |
| Mar 19, 2027 | 147 | 34.5% | ±17.7% |
| Apr 16, 2027 | 175 | 33.6% | ±19.0% |
| Jun 17, 2027 | 237 | 34.5% | ±22.2% |
| Sep 17, 2027 | 329 | 33.3% | ±24.7% |
30-day implied volatility 37.3% vs 21.8% realized over the last 30 trading days. Put/call ratio (volume) 0.47. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:26 UTC)
| Price | USD 41.11 |
|---|---|
| Change | ▲ 1.78% (up) |
| Previous Close | USD 40.39 |
| Open | USD 39.84 |
| Day Range | USD 39.96 – 41.12 |
| 52-Week Range | USD 32.18 – 47.67 |
| Volume | 1,881,289 shares |
| Market Cap | $7.87B |
| Exchange | NYQ |
Technical Analysis (LNC)
Nexqual's technical model rates LNC "NEUTRAL" based on 2 bullish and 3 bearish signals across 127 daily candles, as of October 23, 2026 at 09:26 UTC.
| Overall Signal | NEUTRAL |
|---|---|
| RSI (14) | 46.53 (neutral) |
| vs SMA50 | Below (USD 42.16) |
| MACD | -0.53 (negative) |
Analyst Ratings (LNC)
Wall Street analysts rate LNC "Hold" based on 13 analysts, with a mean price target of USD 47.83 (range USD 35–57), per Nexqual as of October 23, 2026 at 09:26 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 13 |
| Mean Target | USD 47.83 |
| High Target | USD 57 |
| Low Target | USD 35 |
| Buy / Hold / Sell | 6 / 5 / 2 |
Earnings (LNC)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD 1.95 |
| Revenue Estimate | $4.98B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 2.24 vs est 1.96 ▲ beat |
| 2026-03-31 | USD 1.66 vs est 1.6 ▲ beat |
| 2025-12-31 | USD 2.21 vs est 1.9 ▲ beat |
| 2025-09-30 | USD 2.04 vs est 1.87 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Financials & Fundamentals (LNC)
| Total Revenue | $19.39B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +12.60% |
| Gross Margin | +27.08% |
| Operating Margin | +4.61% |
| Profit Margin | +12.17% |
| ROE | +22.59% |
| Debt / Equity | 0.64 |
| Current Ratio | 2.18 |
| Total Cash | $45.55B |
| Total Debt | $7.24B |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Financial Health Score (LNC)
Nexqual rates Lincoln National Corporation's overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:26 UTC.
| Growth | Mixed — Revenue +4.1% YoY (annual), slow |
|---|---|
| Profitability | Mixed — Gross margin 27%, operating 5% (last 12 months) |
| Balance Sheet | Strong — $10.2B cash and investments vs $6.87B debt (Jun 2026, SEC), net cash |
| Cash Flow | Weak — Operating cash flow -$167M (FY ended Dec 2025, 10-K) |
| Efficiency | Strong — ROE 23%, ROA 0.3% |
Ownership (LNC)
| Insider Ownership | +0.34% |
|---|---|
| Institutional Ownership | +87.12% |
| Shares Outstanding | 191.45M |
| Float | 171.56M |
| Short % of Float | +8.49% |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Leadership (LNC)
Lincoln National Corporation is led by Ellen R. Gail Cooper C.F.A., F.S.A., Chairman, President & CEO, per Nexqual as of October 23, 2026 at 09:26 UTC.
| Chairman, President & CEO | Ellen R. Gail Cooper C.F.A., F.S.A. |
|---|---|
| Executive VP & President of Workplace Solutions | James Waltman Reid |
| Senior VP, Treasurer, Chief Accounting Officer & Interim CFO | Adam Maxwell Cohen |
| Senior VP & CTO | Thomas David Anfuso |
| Managing Director of Retirement Plan Services Business | Aaron Moore |
Major Backers & Investors (LNC)
Notable institutional backers of Lincoln National Corporation include Bain Capital Prairie, LLC, Massachusetts Financial Services Co., Price (T.Rowe) Associates Inc, according to Nexqual as of October 23, 2026 at 09:26 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Bain Capital Prairie, LLC | 9.8% |
| Massachusetts Financial Services Co. | 3.33% |
| Price (T.Rowe) Associates Inc | 2.61% |
| Jennison Associates LLC | 1.97% |
| Morgan Stanley | 1.9% |
| MFS SERIES TRUST XI-MFS Mid Cap Value Fund | 1.43% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 9.81% |
| BlackRock | 9.7% |
| Dimensional Fund Advisors | 4.48% |
| State Street | 3.19% |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| PRI | Primerica, Inc. | USD 285.72 | ▲ 0.38% |
| JXN | Jackson Financial Inc. | USD 133.32 | ▲ 2.42% |
| CNO | CNO Financial Group, Inc. | USD 55.5 | ▲ 0.16% |
| GL | Globe Life Inc. | USD 168.41 | ▼ 0.71% |
| UNM | Unum Group | USD 93.75 | ▲ 0.04% |
| GNW | Genworth Financial Inc | USD 8.94 | ▲ 1.02% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:26 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt