Lincoln National Corporation (LNC)
Financial Services · NYQ
Price as at 1 Sept 2026, 09:23 UTC. Quotes are delayed.
Fundamentals
Valuation and ratings
Lincoln National Corporation trades at USD42.59, which is 116% below the USD92.14 our fair value estimate puts on the business. On that measure alone it screens as undervalued, though a valuation model is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 51 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 4.5 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
LNC dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD1.35 | 3 |
| 2025 | USD1.80 | 4 |
| 2024 | USD1.80 | 4 |
| 2023 | USD1.80 | 4 |
| 2022 | USD1.80 | 4 |
| 2021 | USD1.68 | 4 |
| 2020 | USD1.60 | 4 |
| 2019 | USD1.48 | 4 |
| 2018 | USD1.32 | 4 |
| 2017 | USD1.16 | 4 |
| 2016 | USD1.00 | 4 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
LNC earnings and analyst estimates
Recommendation mix, 13 published ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About Lincoln National Corporation
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders. Its Annuities segment offers variable, fixed, and registered index-linked annuities. The Group Protection segment offers group nonmedical insurance products consisting of short and long-term disability and administration services, statutory disability; paid family medical leave administration and absence management services; term life; life; supplemental health insurance; accident, critical illness, and hospital indemnity benefits and dental and vision products to the employer marketplace through various forms of employee-paid and employer-paid plans. Its Retirement Plan Services segment provides employers with retirement plan products and services primarily in the defined contribution retirement plan marketplace; individual and group variable annuities, group fixed annuities, and mutual fund-based programs; and various plan services, including plan recordkeeping, compliance testing, participant education, and trust and custodial services. It distributes its products through consultants, brokers, planners, agents, financial advisors, third-party administrators, financial institutions, and other intermediaries. Lincoln National Corporation was founded in 1905 and is headquartered in Radnor, Pennsylvania.
Company profile, industry and headcount are as reported by our data provider and can lag a company's own filings by a reporting period. The annual report is the authority.
LNC passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
13 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$67.95M · 0.0% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$49.82M · 0.0% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$45.63M · 0.0% of book
- Ken Griffin, CITADEL ADVISORS LLC$34.25M · 0.0% of book
- Joel Greenblatt, Gotham Asset Management, LLC$25.02M · 0.1% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Lincoln National Corporation (LNC) undervalued?
Against our fair value estimate of USD92.14, LNC at USD42.59 is 116% below fair value. That is one model's answer, not a recommendation. It is built from normalized earning power with growth capped deliberately low, which understates companies whose value is mostly future growth.
Which funds own LNC?
13 of the institutions we track reported a position in LNC in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is LNC's P/E ratio?
LNC trades at 4.5 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Lincoln National Corporation (LNC) pay a dividend?
Yes. Lincoln National Corporation yields 4.39% at the current share price. It has paid USD1.80 per share over the trailing twelve months. It has paid a dividend in each of the last 41 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
Where does SteadyShares get its LNC data?
Fundamentals for LNC come from company filings and exchange data, as listed on NYQ; institutional ownership comes from SEC 13F filings. The share price shown was last refreshed on 1 Sept 2026, 09:23 UTC and is delayed. Our data quality score for this company is 96/100, which is the share of the inputs behind our scores that were actually available rather than assumed. Metrics we do not hold are left out of the page rather than estimated.
The full research page for LNC, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.