Lincoln National (NYSE:LNC) Shares Gap Up Following Better-Than-Expected Earnings

Shares of Lincoln National Corporation (NYSE:LNC) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $38.50, but opened at $41.34. Lincoln National shares last traded at $41.3290, with a volume of 588,445 shares changing hands.

The financial services provider reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.35. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.85 billion. Lincoln National had a return on equity of 18.77% and a net margin of 11.49%.The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.91 earnings per share.

Key Stories Impacting Lincoln National

Here are the key news stories impacting Lincoln National this week:

• Positive Sentiment: Q4 earnings and revenue beat consensus — EPS $2.21 vs. $1.86 expected; revenue $4.89B vs. $4.85B expected. The beat is the primary driver of the stock’s move higher. Lincoln National (LNC) Beats Q4 Earnings and Revenue Estimates
• Positive Sentiment: Strong bottom-line metrics: Q4 net income available to common shareholders $745M and adjusted operating income $434M; return on equity and net margin remain healthy — items that support investor confidence. Lincoln Financial Reports 2025 Fourth Quarter and Full Year Results
• Positive Sentiment: Market reaction: early coverage notes shares climbed after results, reflecting the beat and upbeat messaging from management. Lincoln Financial Group’s (NYSE:LNC) Q4 CY2025: Beats On Revenue, Stock Soars
• Neutral Sentiment: Management framed results as “sustained momentum” and broad-based execution across segments; investors should review the earnings-call transcript and slide deck for any forward-looking commentary or capital/portfolio actions. Lincoln National Corporation (LNC) Q4 2025 Earnings Call Transcript
• Negative Sentiment: Revenue was down ~2.8% year‑over‑year, which may temper enthusiasm if investors worry about top-line sustainability or headwinds in core businesses. Compared to Estimates, Lincoln National (LNC) Q4 Earnings: A Look at Key Metrics

Analysts Set New Price Targets

Several equities analysts have commented on LNC shares. UBS Group raised their price target on shares of Lincoln National from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Keefe, Bruyette & Woods lifted their target price on Lincoln National from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. Mizuho initiated coverage on Lincoln National in a research note on Tuesday, December 16th. They set an “outperform” rating and a $52.00 target price for the company. Jefferies Financial Group upped their price target on Lincoln National from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Finally, National Bank Financial set a $45.00 price objective on Lincoln National in a research note on Thursday, January 8th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.25.

Insiders Place Their Bets

In other Lincoln National news, EVP John Christopher Kennedy sold 3,519 shares of Lincoln National stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $44.15, for a total value of $155,363.85. Following the transaction, the executive vice president directly owned 118,985 shares in the company, valued at approximately $5,253,187.75. The trade was a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Lincoln National

Hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Lincoln National in the 4th quarter valued at approximately $31,000. JPL Wealth Management LLC acquired a new stake in shares of Lincoln National in the 3rd quarter valued at approximately $29,000. Salomon & Ludwin LLC purchased a new stake in shares of Lincoln National in the third quarter valued at approximately $32,000. Advisors Asset Management Inc. purchased a new stake in shares of Lincoln National in the second quarter valued at approximately $28,000. Finally, Los Angeles Capital Management LLC acquired a new position in Lincoln National during the fourth quarter worth $34,000. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Price Performance

The stock has a market cap of $7.72 billion, a PE ratio of 3.65, a PEG ratio of 0.41 and a beta of 1.30. The company has a 50-day simple moving average of $43.01 and a 200-day simple moving average of $41.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.28 and a quick ratio of 0.28.

About Lincoln National

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.