Summer Sale
50% off Premium Yearly
Opinions John O'Connell, CFA
Lincoln National Corp.LNCHOLDJun 02, 2014
Stock price when the opinion was issued
As of Jun 15, 2026. Market Open.
You might be interested:
Lifeco, around for 120 years. Retirement, disability, life insurance, annuities. Management change, now fabulous. PE is 5.5x going forward.
Regulatory-based capital is 420%, well over what it needs to be comfortable. Should see dividend increases or share buybacks, or a combination. Cheaper than peers. Well run. Yield is 4.40%.
;fill-opacity:1;'/%3e%3cpath%20d='M31%2018.6001V30H8V18.6001L14.1334%2022.4334L19.4999%2014L24.8669%2022.4334L31%2018.6001Z'%20fill='%23EE5432'%20style='fill:%23EE5432;fill:color(display-p3%200.9340%200.3310%200.1956);fill-opacity:1;'/%3e%3c/svg%3e){kind=small}
Premium contentLNC is a highly regarded wealth management company offering investment, insurance, annuity and other services. It is expanding its slate by creating unique partnerships, like the recent agreement with a private equity firm. It trades at 4x earnings, under book, and supports a 43% ROE. Cash reserves are growing as shares are bought back and the dividend yield is backed by a payout ratio of 10% of cash flow. We recommend setting a stop at $21, looking to achieve $37 -- upside potential of 21%. Yield 5.9%
(Analysts’ price target is $36.92)
They changed CEOs a few years ago. The spike in interest rates unsettled their capital ratios, so shares slid in 2022, but they've been building their capital. Are in a steady eddy business, at a 5-6x PE and pays a 5.6% dividend. Has a book value of $47 (shares are below $32). Has recurring cash flow and a great brand. He expects them to raise the dividend and buy back shares.
(Analysts’ price target is $36.46)
(Top Pick Nov 9/16, Up 17%) She continues to buy it. The story is intact for rising interest rates and lower regulation. They are well positioned to do meaningfully better going forward.
Liz Miller(A Top Pick Sept 26/15. Up 24.97%.) A life insurer and she had the feeling that it was unloved. It was a value purchase. Moving forward, the fundamentals are still clear. Thinks there is good upside over the next several years.
Liz MillerThis is still on her buying list, and one that she thinks has great upside to go.
Liz MillerShe thinks there is interest in the life and integrated area. In the US there is the department of labour (DOL) ruling and this stock is immune to this ruling. They are well capitalized. It came down with the industry. There is interesting upside going forward.
Liz Miller
Alan Kral , CFA, CIC
Well-run bank. All of the banks had a big run off the bottom, and are all trading at around 7 or 8 times earnings and all represent very good value. There has been a little bit of a concern recently that the housing market is slowing down a little. We are still building things sub the demo graphic requirement so he wouldn’t be overly worried about the housing market.