Lincoln National Corp. - LNC STOCK NEWS

Lincoln Financial Group (NYSE:LNC) announced that Ellen G. Cooper, CEO, will present at the Goldman Sachs U.S. Financial Services Conference on December 7, 2022, at 10:00 a.m. ET. The presentation will include a Q&A session on various company topics. A live webcast will be available at www.lfg.com/webcast, with a replay accessible for 30 days post-event. Lincoln Financial Group serves around 16 million customers with $270 billion in account values as of September 30, 2022.

Lincoln Financial Group (NYSE: LNC) highlights significant gaps in long-term care planning among Americans during Long-Term Care Awareness Month. A recent survey shows that 47% of respondents are caregivers or expect to be, yet only 16% are familiar with coverage solutions. Alarmingly, less than 20% have begun their planning. Lincoln emphasizes the importance of understanding long-term care costs, as 70% of adults who reach 65 will need severe care. The company encourages open discussions about preferences and financial planning for long-term care to secure better futures.

Lincoln Financial Group (NYSE: LNC) launched the Lincoln ProtectedPay^SM lifetime income suite on November 21, aimed at providing income for life amid economic uncertainty. This suite offers six income options with guaranteed growth of 6% for future income, investment flexibility, and protected payments in retirement. With only 31% of Americans confident in their retirement savings, this initiative addresses the growing concerns of pre-retirees. Investors can access these products through broker-dealers and registered investment advisors.

Lincoln Financial Group (NYSE: LNC) has announced the pricing of two public offerings: 500,000 depositary shares of its 9.250% Fixed Rate Reset Non-Cumulative Preferred Stock, Series C, and 20 million depositary shares of its 9.000% Non-Cumulative Preferred Stock, Series D. Each offering expects gross proceeds of $500 million. The Series D Preferred Stock will be listed on the New York Stock Exchange under the symbol 'LNC PRD.' Proceeds will be used to repay part of its 4.00% Senior Notes due September 1, 2023, and for general corporate purposes.

Lincoln Financial Network (LFN) announced the onboarding of financial experts Scott LoPresti and Dean DiPierro, who bring nearly $500 million in client assets. The duo boasts 30 years of combined experience in financial planning, previously at LPL Financial and Ameritas Investment Corp. Operating from Croton-on-Hudson, New York, they will continue their independent wealth management practice under LFN's support. Their expertise aims to enhance wealth management services and client support, aligning with LFN's strategic goals.

On November 10, 2022, Lincoln Financial Group (NYSE: LNC) will host Morgan State Day, a networking event at its headquarters in Radnor, Pennsylvania, in partnership with Morgan State University. Around 45 students, focusing on finance, investments, sales, marketing, and computer science, will engage in learning activities and networking. A presentation challenge will award four summer internships to winners. Lincoln Financial aims to foster early career talent through this program, supporting diversity and providing insights into financial career opportunities.

AM Best has downgraded Lincoln National Corporation's (LNC) Financial Strength Rating (FSR) from A+ to A and its Long-Term Issuer Credit Ratings to 'a+' from 'aa-'. The outlook for these ratings is now negative. The downgrade reflects a reduction in the company's Enterprise Risk Management (ERM) assessment due to volatility in capital and a significant GAAP unlocking charge of approximately $634 million. Additionally, LNC anticipates a statutory capital charge of around $550 million in Q4 2022, impacting risk-adjusted capital. The company is undertaking capital management initiatives to improve its position.