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Lincoln National (LNC) Enhances Annuities With Income Guarantee
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Lincoln Financial Group (LNC - Free Report) recently announced the expansion of its Lincoln PathBuilder Income product powered by YourPath. This expansion introduces a lifetime income guarantee to an asset allocation investment fund, marking a significant enhancement to its portfolio of in-plan guaranteed lifetime income solutions.
This move is a time opportune one aiming to respond to a growing demand for guaranteed retirement income options. Moves like this are expected to boost LNC’s Annuities segment, whose operating income grew 9.6% year over year in the second quarter of 2024.
According to Lincoln’s 2023 Wellness@Work study, 35% of participants would boost their contributions if a guaranteed income option were available, and 72% of non-participants indicated such an option would motivate them to join their retirement plans, a notable increase from 52% in 2021.
The newly added lifetime income balanced fund option offers several benefits to plan participants. It ensures guaranteed payments for life, provides protection during market downturns, allows participation in rising markets for potentially higher income, and grants flexibility with access to the underlying account value.
This initiative poises LNC well to drive future growth by enhancing its competitive edge in the retirement plan market. By expanding its product offerings and increasing customization, Lincoln is addressing the current needs of plan sponsors and participants and positioning itself as a leader in retirement income solutions. This expansion highlights Lincoln’s commitment to innovation and client satisfaction, paving the way for continued success in the evolving retirement landscape.
Shares of Lincoln National have gained 8.7% in the year-to-date period compared with the industry’s 4.6% growth.
The Zacks Consensus Estimate for W. R. Berkley’s current-year earnings is pegged at $3.99 per share, which indicates 21.7% year-over-year growth. It witnessed four upward estimate revisions in the past 30 days against two downward movements. The consensus mark for WRB’s current-year revenues suggests an 11.5% increase from a year ago.
The Zacks Consensus Estimate for Progressive’s 2024 earnings indicates a 96.7% year-over-year surge. During the past month, PGR has witnessed 11 upward estimate revisions against none in the opposite direction. It beat earnings estimates in each of the past four quarters, with an average surprise of 24.1%.
The Zacks Consensus Estimate for Arch Capital’s current-year earnings suggests a 5.2% year-over-year jump. During the past month, ACGL has witnessed five upward estimate revisions against none in the opposite direction. The consensus mark for current-year revenues indicates 15.1% growth from a year ago.
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Lincoln National (LNC) Enhances Annuities With Income Guarantee
Lincoln Financial Group (LNC - Free Report) recently announced the expansion of its Lincoln PathBuilder Income product powered by YourPath. This expansion introduces a lifetime income guarantee to an asset allocation investment fund, marking a significant enhancement to its portfolio of in-plan guaranteed lifetime income solutions.
This move is a time opportune one aiming to respond to a growing demand for guaranteed retirement income options. Moves like this are expected to boost LNC’s Annuities segment, whose operating income grew 9.6% year over year in the second quarter of 2024.
According to Lincoln’s 2023 Wellness@Work study, 35% of participants would boost their contributions if a guaranteed income option were available, and 72% of non-participants indicated such an option would motivate them to join their retirement plans, a notable increase from 52% in 2021.
The newly added lifetime income balanced fund option offers several benefits to plan participants. It ensures guaranteed payments for life, provides protection during market downturns, allows participation in rising markets for potentially higher income, and grants flexibility with access to the underlying account value.
This initiative poises LNC well to drive future growth by enhancing its competitive edge in the retirement plan market. By expanding its product offerings and increasing customization, Lincoln is addressing the current needs of plan sponsors and participants and positioning itself as a leader in retirement income solutions. This expansion highlights Lincoln’s commitment to innovation and client satisfaction, paving the way for continued success in the evolving retirement landscape.
Shares of Lincoln National have gained 8.7% in the year-to-date period compared with the industry’s 4.6% growth.
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Zacks Rank & Key Picks
LNC currently carries a Zacks Rank #3 (Hold).
Investors interested in the broader Finance space may look at some better-ranked players like W. R. Berkley Corporation (WRB - Free Report) , The Progressive Corporation (PGR - Free Report) , and Arch Capital Group Ltd. (ACGL - Free Report) . Each stock presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for W. R. Berkley’s current-year earnings is pegged at $3.99 per share, which indicates 21.7% year-over-year growth. It witnessed four upward estimate revisions in the past 30 days against two downward movements. The consensus mark for WRB’s current-year revenues suggests an 11.5% increase from a year ago.
The Zacks Consensus Estimate for Progressive’s 2024 earnings indicates a 96.7% year-over-year surge. During the past month, PGR has witnessed 11 upward estimate revisions against none in the opposite direction. It beat earnings estimates in each of the past four quarters, with an average surprise of 24.1%.
The Zacks Consensus Estimate for Arch Capital’s current-year earnings suggests a 5.2% year-over-year jump. During the past month, ACGL has witnessed five upward estimate revisions against none in the opposite direction. The consensus mark for current-year revenues indicates 15.1% growth from a year ago.