Lincoln National Corp (LNC)

neg -0.35
Today's Range: 47.71 - 48.56 | LNC Avg Daily Volume: 1,720,400
Last Update: 10/21/16 - 4:04 PM EDT
Volume: 1,018,511
YTD Performance: -2.85%
Open: $47.98
Previous Close: $48.83
52 Week Range: $30.39 - $57.54
Oustanding Shares: 232,795,337
Market Cap: 11,365,068,352
6-Month Chart
TheStreet Ratings Grade for LNC
Buy Hold Sell
A+ A A- B+ B B- C+ C C- D+ D D- E+ E E- F
TheStreet Ratings is the source for accurate ratings that you can rely upon to make sound, informed financial decisions. Click here to find out about our methodology.
Analysts Ratings
Historical Rec Current 1 Mo. Ago 2 Mo. Ago 3 Mo. Ago
Strong Buy 2 2 2 2
Moderate Buy 1 1 1 1
Hold 8 6 6 6
Moderate Sell 0 0 0 0
Strong Sell 0 0 0 0
Mean Rec. 2.50 2.39 2.39 2.39
Latest Dividend: 0.25
Latest Dividend Yield: 2.04%
Dividend Ex-Date: 10/05/16
Price Earnings Ratio: 11.76
Price Earnings Comparisons:
LNC Sector Avg. S&P 500
11.76 11.70 29.40
Price Performance History (%Change):
3 Mo 1 Yr 3 Y
12.43% -3.65% 7.41%
Revenue 0.10 0.20 0.06
Net Income -23.80 -0.10 -0.04
EPS -20.50 0.00 -0.01
Earnings for LNC:
Revenue 13.57B
Average Earnings Estimates
Qtr (09/16) Qtr (12/16) FY (12/16) FY (12/17)
Average Estimate $1.62 $1.66 $6.08 $6.84
Number of Analysts 8 7 8 8
High Estimate $1.65 $1.73 $6.20 $7.03
Low Estimate $1.55 $1.55 $5.91 $6.50
Prior Year $1.11 $1.54 $5.46 $6.08
Growth Rate (Year over Year) 45.72% 7.70% 11.40% 12.37%
Chart Benchmark
Average Frequency Timeframe
Indicator Chart Scale  
Symbol Comparison Bollinger Bands
On the intraday rally I have added to the following shorts: Apple  (AAPL) , Metlife (MET) , Lincoln National (LNC) and Caterpil…

My Takeaways and Observations Real Money Pro($)

The U.S. dollar weakened. The price of crude oil declined by four bits to $49.86. Gold flatlined. Ag commodities rallied: wheat up $0.02, corn up $0.01, soybeans up $0.16 and oats up $0.02. Lumber fell an outsized $9 and closed at a multi-week low. Peak housing? Bonds rallied (I covered a large portion of my bond short early in the day). Yields fell by two to three basis points The 10-year U.S. note yield fell below 1.77% -- though Tepper was quite bearish on bonds. The 2s/10s spread was flat at 95 basis points. Municipals were actually slightly higher in price, but that didn't keep closed-end municipal bond funds from getting schmeissed. the lack of liquidity in that asset class was a subject I wrote about midday. Look at BlackRock Inv. Quality Munic. Trust (BKN) , Invesco Pennsylvania Value Mncpl Incm Tr (VPV) , Etrion (ETX) , BlackRock Municipal Income Trust II (BLE) (more declines of 1.5% to 3%) after a similar drop on Friday! This is supposed to be a conservative asset class, but these funds have lost nearly their annual dividend yields in two days! Junk bonds were slightly weaker but, again, Blackstone/GSO Strategic Credit Fund (BGB) had an outsized decline. Stay far from both closed end municipal bond funds and BGB. Banks were disappointing for the second day in a row. I have expressed my views here. Short JPMorgan Chase (JPM) , Citigroup (C) and Financial Select Sector SPDR Fund (XLF is my Trade of the Week -- down a dime from my cost on the day). See Jim's good columns on sector below. Surprising executive departure at Visa causes price weakness. Insurance was unchanged to lower but brokerages got hit after Friday's strength. Old tech was uneventful. IBM (IBM) down $1 after a slight beat. Retail was a conspicuous market blemish across the board weakness. Home Depot (HD) , Lowe's (LOW)  , Macy's (M) and Nordstrom (JWN) featured losers. Biotech after a very weak Friday. Valeant Pharmaceuticals Intl (VRX) (Ackman) new low, Allergan (AGN)  down $4, but Celgene (CELG)  up $1. Big pharma down small. Consumer staples weakened. Core short, Coca-Cola (KO) , a new low. Autos lower -- Ford at another low. Ag equipment down modestly. (T)FANG mixed. Netflix (NFLX) up big on a nice beat (I remain small short the name) Amazon (AMZN) and Tesla (TSLA) lower. Here are some value-added contributions on our site: 1. Jim "El Capitan" Cramer had several posts on banks.
Recent shorts in life insurers MetLife (MET) and Lincoln National (LNC) have worked out great over the last week.

My Takeaways and Observations Real Money Pro($)

The U.S. dollar soared, something I highlighted very early in the morning as an important factor in my short-term negative view of the equity market. The price of crude oil fell by $0.56 to $50.79 after several days of strength. Gold was down $4.30 to $1,256 after a better start earlier in the day. I plan to add on weakness. I don't expect a December rate increase (see below) and more central bank lunacy and limited fiscal flexibility in a partisan Washington next year. Ag commodities: wheat up $0.03; corn up $0.02; soybeans down $0.01; and oats up 2 $0.02. Bonds rallied in yield but declined in price. The 10- and 30-year note and bond climbed by 3 basis points in yield. The 2s/10s spread (yield curve) rose to 90 basis points. Munis were sold and junk bonds weakened more considerably. Blackstone/GSO Strategic Credit Fund (BGB)  was down only $0.02. Banks held up fairly well under the circumstances as bond yields rose. I haven't pulled the trigger on short Financial Select Sector SPDR Fund (XLF) , but I am close as the yield curve remains flat. However insurance and brokerages got hit. Last week's short pickups in Metlife (MET) and Lincoln National (LNC) turned out well. Autos and energy lower. Retail was on sale. Warm weather hit the sector's earnings in the soon to be released quarter, but this is starting to be discounted as the turn in weather (colder) now could bode well for the important Christmas/holiday quarter. Biotech got schmeissed -- something I warned readers to expect (after Illumina (ILMN) issued lower guidance) in my "Takeaways" last night. Celgene (CELG) , Gilead Sciences (GILD) (everyone's very value biotech, I see it as a value trap; today it hit a year low) and Allergen (AGN) all much lower. Speculative biotech tanked. Trump's rogue actions today and Clinton's overwhelming strength in the polls may have also contributed to today's train wreck in biotech. Ag equipment stalled despite a Goldman Sachs (GS) upgrade. Old media lower, led by losses in IBM (IBM) and Intel (INTC) . Fertilizers not so crappy with gains in Monsanto (MON) and Potash Corporation of Saskatchewan (POT) . Media under assault again. All four components of (T)FANG were lower, but far less than the market' drop. Netflix (NFLX) , my only short, looks to be breaking down. In terms of individual stocks, Oaktree Financial (OAK) was a sap, but I added, as was JCP, which I also added to. In the latter retailer the colder weather is a plus but the third quarter will likely have been hit (along with other retailers) by the unseasonably warm weather. At $9 I expect the market might look through a disappointment. Unconfirmed rumors that Prince Alaweed might raise his position in Twitter buoyed the shares as did continued Salesforce (CRM) takeover chatter (albeit at a lower price). Here are some value-added contributions on our site. 1. Jim "El Capitan" Cramer clearly doesn't agree with my negativity in " Nowhere to Run, Nowhere to Hide." Jim sees the absence of new money as an integral factor today - while I have more fundamental issues that I raised in my opener, "The Market Outlook Worsen." 2

So Far, So Good Real Money Pro($)

We are being rewarded today by yesterday's Lincoln National (LNC) and MetLife (MET) shorts as well as buys of SPDR Gold Shares (GLD) and J.C. Penney (JCP)  .

My Takeaways and Observations Real Money Pro($)

 The U.S. dollar strengthened. The price of crude oil rose by $0.64 to $50.47. Gold stunk up the joint, closing down by $15 to $1,253. Market Vectors Gold Miners ETF (GDX) sliced through the 200-day moving average. As I have stated, large gap downs in gold have usually taken two to three days to stabilize and begin recovering. Tomorrow could be the third day. I am still small SPDR Gold Trust ETF (GLD) as a portfolio hedge against central bank lunacy. I want to be there but the only question is price and entry level. I suspect we are close after the two-day panic (and loss of $60/oz). Agricultural commodities: wheat down $0.09, corn down $0.07, soybeans up $0.03 and oats up $0.04. Lumber up $2.50. Bonds continued to roll over on lower prices, higher yields. The 10-year U.S. note yield rose by three basis points and closed at 1.744%. The long bond yield moved similarly. I remain large short in the iShares Barclays 20+ Yr Treas.Bond ETF (TLT) (which was down $0.75). It is now $7 lower than when I introduced it to my Best Ideas List (short) and wrote about A Generational Bottom in yields in July. The 2s/10s spread steepened 1.5 basis points to 89 basis points (well off of the recent 81 basis point low). Municipals and junk bonds exhibited little price change despite the decline in Treasuries. Blackstone/GSO Strategic Credit Fund (BGB)  down $0.06. I would avoid. Banks continued strong, extending recent gains. Insurance better (led by MET). I am now scaling into shorts after being quite small after covering most weeks/months ago. Good reduce yesterday in Hartford Financial Services (HIG) , this week's Trade of the Week after a 5% rise from Monday.

Adding to 2 Insurance Shorts Real Money Pro($)

My shorts have moved this morning from small to medium in size in Lincoln National (LNC) ($49.70) and MetLife (MET) ($48.00).
Bank and insurance company shares have had a spirited advance this week based on better-than-expected U.S. economic data and talk of th…
The U.S. currency strengthened. The price of crude oil rose by $0.57. Gold fell by $3 to $1,314. In numerous "Takeaways" I have argued that $1,300 to $1,310 support could be penetrated to the downside. I suspect we might be close to it now. Agricultural commodities: wheat, down $0.06; corn, up $0.10; soybeans, up $0.19; and oats, up $0.05. (Watch these "fert" fans!) Lumber, down $2. Bonds weakened in price and rose in yield. The 10-year note rose by one basis point to 1.619%. The 2s/10s spread fell by one basis point to 82 basis points -- still near a multi-month low (more on this in my opener tomorrow). Municipals and junk bond prices got hit. However, Blackstone/GSO Strategic Credit Fund (BGB) was up a penny. Closed end muni bond funds suffered from profit taking. Banks were slightly lower as Wells Fargo (WFC) made another multi-week low. I would still avoid the financial sector, and especially Warren's bank. (More on this on Tuesday morning). Insurance stocks were mixed. I added to Hartford Financial (HIG) . Still short Metlife (MET) and Lincoln National (LNC) (but small). Autos were higher, led by General Motors (GM) even though there were negatives signs in the monthly sales data. More evidence of "peak autos." Old tech hit. IBM (IBM) led to the downside. Energy stocks uneven despite higher oil prices. Retail was a downside market feature as discussed in my JCPenney post. August retail sales were poor and the inclement (warm) weather hurts the group's top line. Biotech was down by 1%. Valeant Pharmaceuticals (VRX) rolling over (again). Staples hit on a stronger dollar. No Coke, Pepsi! New low for Coca-Cola (KO)

My Takeaways and Observations Real Money Pro($)

The U.S. dollar flat-lined. The price of crude oil increased by $2 a barrel to $46.67 on the OPEC chatter, previously mentioned. Gold fell by $4.60 to $1,325 ... not trading well. Agricultural commodities mostly lower: wheat was down $0.02, corn down $0.02, soybeans down $0.07 and oats down $0.01. Lumber up $1. Bonds were unchanged, with little movement in yields. The 10-year yield was up 1, and the long bond was flat. 2s/10s (yield curve) flat at 81 basis points. Municipals flat, but junk bond prices ripped after OPEC and closed much higher on the day. Blackstone/GSO Strategic Credit Fund (BGB) rose $0.13 to nearly $15. I would sell this strength. Banks rallied despite the lousy publicity: Congressional uproar and California state's temporary cancellation of its business relationship with Wells Fargo. More in my opening missive. The canary in the coal mine, DB, rallied after weeks of weakness. My view? Neidermeyer, dead. Deutsch Bank (DB) dead.  REITs fell small, after broad gains in the last few days. I added to my iShares Dow Jones US Real Estate ETF (IYR) short. Insurance and brokerages rallied -- albeit modestly. Staying long HIG and short Morgan Stanley (MS) , Goldman Sachs (GS) , Metlife (MET) and Lincoln National (LNC) . Biotech under-performed. Allergan (AGN) , Gilead Sciences (

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