Lincoln National Corp. - LNC STOCK NEWS

Lincoln Financial Group (NYSE:LNC) announced that Randy J. Freitag, CFO, will present at the KBW Virtual Insurance Conference on September 9, 2021, at approximately 9:10 a.m. Eastern Time. The session will include a Q&A covering various industry and company topics. The live webcast can be accessed at www.lfg.com/webcast, with a replay available for 30 days after the event.

As of June 30, 2021, Lincoln Financial managed approximately $324 billion in account values, demonstrating strong commitment to financial solutions.

Lincoln Financial Group conducted a Consumer Sentiment Study revealing that 60% of Americans are reassessing their financial futures due to COVID-19. Notably, 25% of millennials acknowledged an increased importance in funding life insurance. The study highlights life insurance as a top financial asset, alongside emergency savings and retirement accounts. Key findings indicate 83% prioritize beneficiary amounts, while 57% of millennials value policies with cash value. The company emphasizes the critical role of life insurance in securing financial futures as Life Insurance Awareness Month approaches.

Lincoln Financial Group (NYSE: LNC) announced a leadership transition, with Ellen Cooper set to become the new President and CEO after the 2022 Annual Meeting. Dennis Glass, the current CEO, will take on the role of Board Chair. Cooper, who has significant experience in the life insurance sector, will also join the board alongside William H. Cunningham, who will become the lead independent director. This executive shift reflects the company's commitment to long-term succession planning and growth as it continues to deliver solid financial results.

Lincoln Financial Group (NYSE: LNC) has expanded its Lincoln OptiBlend^® fixed indexed annuity, incorporating the BlackRock Dynamic Allocation Index. This strategic move aims to provide investors with greater portfolio diversification and daily volatility control, addressing concerns about stock market fluctuations. With nearly 50% of pre-retirees worried about market volatility, the new index offers a tailored investment approach to safeguard assets while pursuing retirement goals. The partnership with BlackRock enhances product offerings for clients seeking innovative financial solutions.

Lincoln Financial Group (NYSE: LNC) has announced the appointment of Dale LeFebvre and Janet Liang as new directors, expanding the board from eleven to thirteen members, effective November 1, 2021. LeFebvre is the founder of 3.5.7.11 and has extensive experience in private equity and investment. Liang currently serves as executive vice president at Kaiser Foundation Health Plan and has a strong background in healthcare leadership. The chairman of Lincoln Financial Group expressed confidence that their expertise will enhance growth and shareholder value.

Lincoln Financial Group (NYSE:LNC) has declared a quarterly cash dividend of $0.42 per share on its common stock. Shareholders of record at the close of business on October 11, 2021 will receive this dividend, payable on November 1, 2021. As of June 30, 2021, the company reported $324 billion in end-of-period account values, showcasing its strong financial standing. Lincoln Financial Group serves more than 17 million customers, providing retirement, insurance, and wealth protection solutions.

Lincoln Financial Group (NYSE: LNC) announced the successful tender of capital securities as part of its exchange offers. As of August 9, 2021, a total of $562,034,000 of Subordinated Notes due 2066 and $432,743,000 of Subordinated Notes due 2067 are expected to be issued. The tender represented approximately 77.79% and 88.19% of the respective capital securities outstanding. The settlement date for the exchange is anticipated on August 11, 2021, subject to customary conditions. The company aims to enhance liquidity and strengthen its balance sheet through this transaction.

Lincoln Financial Group (NYSE: LNC) reported a net income of $642 million for Q2 2021, equating to $3.34 per diluted share, significantly up from a net loss of $(94) million in Q2 2020. Adjusted income from operations reached a record $608 million, or $3.17 per diluted share, compared to $187 million, or $0.97 per share, last year. Key segments showed revenue growth, with annuity sales up 28% at $3.2 billion and Retirement Plan Services up 21% at $2.8 billion. The company also repurchased 5.2 million shares at $305 million, enhancing shareholder value.

AM Best has assigned a Long-Term Issue Credit Rating of “bbb+” (Good) to Lincoln National Corporation (LNC) for its subordinated notes, with a stable outlook. LNC is offering a par-for-par exchange of its existing capital securities for higher-ranking notes due in 2066 and 2067. The new subordinated notes will rank senior to the existing capital securities, which will be subordinate in payment rights. LNC's financial leverage and interest coverage ratios adhere to AM Best’s guidelines for its ratings, ensuring stability for investors.