Latest news with #LNC
Yahoo
2 days ago
- Business
- Yahoo
Jim Cramer Says 'We're Not Going to Recommend' Lincoln National (LNC)
We recently published a list of . In this article, we are going to take a look at where Lincoln National Corporation (NYSE:LNC) stands against other stocks that Jim Cramer discusses. When a caller asked Cramer about Lincoln National Corporation (NYSE:LNC) during the lightning round, he remarked: 'Well…. You cut me to the quick, you got my accent, and then you, you drill me with Lincoln… No, we're not going to recommend that stuff. We're going to go, we're going to buy Chubb. Then I don't have to worry about how badly I pronounce it. Chubb is the one you want.' An insurance executive conferring with clients in a modern office, discussing policies. Lincoln National (NYSE:LNC) provides a range of insurance and retirement products, including life insurance, annuities, group benefits, and retirement plans. On May 8, the company posted a first-quarter net loss of $756 million, or $4.41 per share. The difference was mainly due to a $0.9 billion after-tax loss tied to market risk changes from falling interest rates and lower equity markets. Overall, LNC ranks 10th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of LNC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
5 days ago
- Business
- Business Wire
Lincoln Financial and Bain Capital Announce Closing of Equity Capital Raise and Launch of Long-Term Strategic Partnership
RADNOR, Pa.--(BUSINESS WIRE)--Lincoln Financial (NYSE: LNC) and Bain Capital today shared the closing of their previously announced long-term strategic partnership agreement. The partnership was first announced by Lincoln and Bain Capital on April 9, 2025, and includes an $825 million strategic growth investment from Bain Capital, which acquired a 9.9% common equity stake on a post-issuance basis in Lincoln, and the establishment of a 10-year, non-exclusive strategic investment management relationship. Under the final terms, Lincoln issued 18,759,497 new common shares at $44.00 per share, based on a 25% premium to the 30-day volume-weighted average price as of April 8, 2025. This capital will be deployed toward Lincoln's strategic priorities—including growing spread-based earnings, advancing portfolio management and asset sourcing efforts, and optimizing the company's legacy life insurance portfolio. Additionally, the transaction provides Lincoln with the financial flexibility to accelerate progress toward its 25% leverage ratio target. 'We're incredibly pleased to launch our strategic partnership with Bain Capital, creating significant opportunities for long-term value generation with a focus on advancing Lincoln's goal of sustained profitable growth,' said Ellen Cooper, Chairman, President and Chief Executive Officer of Lincoln Financial. 'Bain Capital's powerful platform, deep cultural fit and shared values will further differentiate us competitively and enable us to accelerate the execution of our strategy. The strategic and financial benefits of our mutual capabilities position us for enduring future success.' 'This partnership with Lincoln Financial reflects our conviction in the company's long-term strategy and the opportunity to create meaningful value through a well-capitalized, aligned growth plan,' said David Gross, Co-Managing Partner at Bain Capital. 'We are excited to support Lincoln in accelerating its portfolio transformation and capital allocation priorities, while leveraging Bain Capital's platform across asset classes to deliver differentiated investment capabilities and long-term scale.' About Lincoln Financial Lincoln Financial helps people confidently plan for their vision of a successful financial future. As of December 31, 2024, approximately 17 million customers trust our guidance and solutions across four core businesses – annuities, life insurance, group protection, and retirement plan services. As of March 31, 2025, the company had $312 billion in end-of-period account balances, net of reinsurance. Headquartered in Radnor, PA., Lincoln Financial is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. Learn more at About Bain Capital Founded in 1984, Bain Capital is one of the world's leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit Follow @Bain Capital on LinkedIn and X (Twitter).
Yahoo
19-05-2025
- Business
- Yahoo
Lincoln Financial Appoints Tom Anfuso as SVP, Chief Technology Officer
RADNOR, Pa., May 19, 2025--(BUSINESS WIRE)--Lincoln Financial (NYSE: LNC), a leading provider of insurance, annuities, group benefits and retirement solutions, today announced the appointment of Tom Anfuso as Senior Vice President and Chief Technology Officer. Anfuso will provide strategic direction and vision for IT infrastructure at Lincoln, with a focus on anticipating and rapidly responding to current and evolving business needs, opportunities and trends. He will report directly to Jennifer Charters, Executive Vice President, Chief Information Officer, and will be a member of the company's Corporate Leadership Group. Prior to joining Lincoln, Anfuso served as Managing Director and Chief Technology Officer at JPMorgan Chase, where he led the technology integration of acquired companies in Chase's Connected Commerce line of business. He brings more than 30 years of deep technology and engineering experience to the role. "At Lincoln Financial, we are investing in technology to drive innovation, unlock new growth opportunities and power the next chapter of our transformation," said Charters. "With a strategic leader like Tom, we are well-positioned to accelerate this journey and deliver even greater impact for our customers and employees." About Lincoln Financial Lincoln Financial helps people confidently plan for their vision of a successful financial future. As of December 31, 2024, approximately 17 million customers trust our guidance and solutions across four core businesses – annuities, life insurance, group protection, and retirement plan services. As of December 31, 2024, the company has $321 billion in end-of-period account balances, net of reinsurance. Headquartered in Radnor, Pa., Lincoln Financial is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. Learn more at LCN-7974281-051525 View source version on Contacts Media RelationsMedia@ Tina MadonInvestor Sign in to access your portfolio
Yahoo
12-05-2025
- Business
- Yahoo
Lincoln Financial Announces Cash Tender Offer For Certain Outstanding Securities
RADNOR, Pa., May 12, 2025--(BUSINESS WIRE)--Lincoln Financial (NYSE: LNC) (the "Company") today announced the commencement of a cash tender offer (the "Offer") for the following: (i) 4.375% Senior Notes due 2050 (the "2050 Notes"), (ii) 4.350% Senior Notes due 2048 (the "2048 Notes"), (iii) Capital Securities due 2067 (the "2067 Securities"), (iv) Capital Securities due 2066 (the "2066 Securities"), (v) Subordinated Notes due 2067 (the "2067 Subordinated Notes"), (vi) Subordinated Notes due 2066 (collectively with the 2067 Securities, the 2066 Securities and the 2067 Subordinated Notes, the "Subordinated Securities"), (vii) 3.050% Senior Notes due 2030 (the "2030 Notes"), and (viii) 3.400% Senior Notes due 2032 (the "2032 Notes"). The 2050 Notes, the 2048 Notes, the Subordinated Securities, the 2030 Notes and the 2032 Notes are referred to herein as the "Securities" and, each, a "Series" of Securities. The Offer is capped at an aggregate purchase price of up to $375,000,000 (the "Aggregate Offer Cap"), including, in the case of the Subordinated Securities, a maximum aggregate principal amount of $220,000,000 (the "Sub-Cap"). The Offer is being made exclusively pursuant to, and is subject to the terms and conditions, including a financing condition, set forth in an Offer to Purchase, dated May 12, 2025 (the "Offer to Purchase"). Securities purchased in the Offer will be retired and cancelled. The following table sets forth certain information regarding the Securities and the Offer: Title of Security CUSIP / ISIN AggregatePrincipalAmountOutstanding Sub-Cap(PrincipalAmount)(1) AcceptancePriorityLevel(2) Fixed PriceTotalConsideration(per $1,000)(3) BloombergReferencePage(4) FixedSpread(basispoints)(3) EarlyTenderPremium(per $1,000) 4.375% Senior Notes due 2050 534187 BL2 / US534187BL23 $300,000,000 n/a 1 n/a 4.625% UST due 2/15/2055 FIT1 +120 $30 4.350% Senior Notes due 2048 534187 BG3 / US534187BG38 $450,000,000 n/a 2 n/a 4.750% UST due 2/15/2045 FIT1 +120 $30 Capital Securities due 2067 534187 AU3 / US534187AU31 $57,967,000 $220,000,000 3 $820.00 n/a n/a n/a $30 Capital Securities due 2066 534187 AS8 / US534187AS84 $160,493,000 4 $830.00 n/a n/a n/a $30 Subordinated Notes due 2067 534187 BP3 / US534187BP37 $432,743,000 5 $832.50 n/a n/a n/a $30 Subordinated Notes due 2066 534187 BN8 / US534187BN88 $562,034,000 6 $842.50 n/a n/a n/a $30 3.050% Senior Notes due 2030 534187 BJ7 / US534187BJ76 $500,000,000 n/a 7 n/a 3.875% UST due 4/30/2030 FIT1 +75 $30 3.400% Senior Notes due 2032 534187 BQ1 / US534187BQ10 $300,000,000 n/a 8 n/a 4.250% UST due 5/15/2035 FIT1 +95 $30 (1) The Sub-Cap represents the maximum aggregate principal amount of the Subordinated Securities that may be purchased pursuant to the Offer. The Company reserves the right, but is under no obligation, to increase, decrease or eliminate the Sub-Cap at any time, including on or after 10:00 a.m., New York City time, on the business day immediately following the Early Tender Deadline (as defined below) (such date, the "Price Determination Date"), unless extended and subject to applicable law. (2) Subject to the Aggregate Offer Cap, the Sub-Cap and proration, the principal amount of each Series of Securities that is purchased in the Offer will be determined in accordance with the applicable Acceptance Priority Level (in numerical priority order with 1 being the highest Acceptance Priority Level and 8 being the lowest) specified in this column. (3) Includes the Early Tender Premium of $30.00 per $1,000 principal amount of Securities for each Series (the "Early Tender Premium"). (4) The page on Bloomberg from which the lead dealer manager will quote the bid side price of the applicable Reference U.S. Treasury Security. In connection with the Offer, the Company intends to exercise, in full, its issuance right under the Facility Agreement it entered into with Belrose Funding Trust, a Delaware Statutory Trust ("Trust I"), in connection with the issuance by Trust I of the Pre-Capitalized Trust Securities Redeemable August 15, 2030 (the "P-Caps"). Upon exercise of the issuance right, the Company would issue $500,000,000 aggregate principal amount of its 2.330% Senior Notes due 2030 (CUSIP No. 534187 BM0) (the "2.330% Notes due 2030") to Trust I, and receive from Trust I, as consideration for such issuance, a portfolio of principal and interest strips of U.S. Treasury securities (the "Eligible Assets"). The Company intends to sell the Eligible Assets and use the net proceeds thereof to fund, in whole or in part, the Offer, which will allow the Company to proactively manage its debt cost and debt maturity profile in an efficient manner while providing participating holders liquidity. To the extent such proceeds are not sufficient to fund the Aggregate Offer Cap, the Company may use available cash or cash generated from its operations or other potential sources. Alongside the Offer, the Company intends to access a new source of contingent liquidity to be provided by means of the contemplated issuance by Belrose Funding Trust II ("Trust II") of a new series of Pre-Capitalized Trust Securities Redeemable May 15, 2055 (the "New P-Caps"). This offering, when combined with the Company's exercise of its issuance right under the P-Caps, will allow the Company to enhance and lengthen its contingent capital by replacing the shorter-dated original P-Caps facility with a new longer-dated contingent capital facility out to 2055. The Offer will expire at 5:00 p.m., New York City time, on June 10, 2025, unless extended or earlier terminated by the Company (the "Expiration Date"). Tenders of Securities may be withdrawn at any time at or prior to 5:00 p.m., New York City time, on May 23, 2025 (the "Withdrawal Deadline"), but may not be withdrawn thereafter except as required by law. The consideration paid for Securities that are validly tendered and not validly withdrawn and accepted for purchase pursuant to the Offer will be determined in the manner described in the Offer to Purchase: (i) with respect to each Series of Securities other than the Subordinated Securities, by reference to the applicable Fixed Spread, in each case, as specified in the table above and in the Offer to Purchase, over the yield to maturity based on the bid-side price of the applicable Reference U.S. Treasury Security, in each case, as specified in the table above and in the Offer to Purchase; and (ii) with respect to the Subordinated Securities, by reference to the applicable Fixed Price Total Consideration, in each case, as specified in the table above and in the Offer to Purchase. Holders of Securities that are validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on May 23, 2025 (the "Early Tender Deadline") and accepted for purchase will receive the applicable "Total Tender Offer Consideration," which includes the Early Tender Premium. Assuming the aggregate purchase price, as calculated pursuant to the Offer to Purchase (excluding accrued interest), for the Securities purchased on the Early Settlement Date (as defined below) is less than the Aggregate Offer Cap, holders who validly tender their Securities after the Early Tender Deadline but before the Expiration Date and whose Securities are accepted for purchase will receive only the applicable "Tender Offer Consideration" per $1,000 principal amount of any such Securities that are accepted for purchase, which is equal to the applicable Total Tender Offer Consideration minus the Early Tender Premium. Payment for Securities accepted for purchase will include an amount equal to accrued and unpaid interest thereon from and including their last interest payment date up to, but not including, the applicable settlement date. The settlement date for Securities that are validly tendered and not validly withdrawn at or prior to the Early Tender Deadline and accepted for purchase is expected to be May 29, 2025, the third business day following the Early Tender Deadline (the "Early Settlement Date"). If an amount of Securities having an aggregate purchase price, as calculated pursuant to the Offer to Purchase (excluding accrued interest), less than the Aggregate Offer Cap is purchased on the Early Settlement Date, the settlement date for Securities that are validly tendered after the Early Tender Deadline but before the Expiration Date and accepted for purchase is expected to be June 12, 2025, the second business day after the Expiration Date (the "Final Settlement Date"). Subject to the Aggregate Offer Cap, the Sub-Cap and proration, all Securities validly tendered and not validly withdrawn before the Early Tender Deadline having a higher Acceptance Priority Level, as specified in the table above and in the Offer to Purchase, will be accepted before any Securities validly tendered and not validly withdrawn before the Early Tender Deadline having a lower Acceptance Priority Level, and all Securities validly tendered after the Early Tender Deadline but before the Expiration Date having a higher Acceptance Priority Level will be accepted before any Securities validly tendered after the Early Tender Deadline but before the Expiration Date having a lower Acceptance Priority Level. However, if Securities having an aggregate purchase price, as calculated pursuant to the Offer to Purchase (excluding accrued interest), less than the Aggregate Offer Cap are validly tendered and not validly withdrawn as of the Early Tender Deadline, Securities validly tendered and not validly withdrawn before the Early Tender Deadline will be accepted for purchase in priority to Securities validly tendered after the Early Tender Deadline but before the Expiration Date, even if such Securities validly tendered after the Early Tender Deadline but before the Expiration Date have a higher Acceptance Priority Level than Securities validly tendered and not validly withdrawn before the Early Tender Deadline. Securities of the Series in the last Acceptance Priority Level accepted for purchase in accordance with the terms and conditions of the Offer may be subject to proration so that the Company will only accept for purchase Securities resulting in the aggregate purchase price, as calculated pursuant to the Offer to Purchase (excluding accrued interest), not exceeding the Aggregate Offer Cap. In such event, Securities of any other Series subject to the Offer with a lower Acceptance Priority Level will not be accepted for purchase. In addition, Subordinated Securities of the Series in the last Acceptance Priority Level among such Subordinated Securities accepted for purchase in accordance with the terms and conditions of the Offer may be subject to proration so that the Company will only accept for purchase Subordinated Securities having an aggregate principal amount not exceeding the Sub-Cap. In such event, Subordinated Securities of any other Series subject to the Offer with a lower Acceptance Priority Level will not be accepted for purchase. Furthermore, (1) if Securities having an aggregate purchase price, as calculated pursuant to the Offer to Purchase (excluding accrued interest), equal to or greater than the Aggregate Offer Cap are validly tendered and not validly withdrawn as of the Early Tender Deadline, subject to the Aggregate Offer Cap, the Sub-Cap and proration, holders who validly tender Securities after the Early Tender Deadline but before the Expiration Date will not have any of their Securities accepted for purchase and (2) if Subordinated Securities having an aggregate principal amount equal to or greater than the Sub-Cap are validly tendered and not validly withdrawn as of the Early Tender Deadline, subject to the Aggregate Offer Cap, the Sub-Cap and proration, holders who validly tender Subordinated Securities after the Early Tender Deadline but before the Expiration Date will not have any of their Subordinated Securities accepted for purchase. The Company's obligation to accept for purchase, and to pay for, validly tendered Securities that have not been validly withdrawn, if applicable, is subject to, and conditioned upon, satisfaction or, where applicable, waiver of, certain general conditions and a financing condition, in each case as described in the Offer to Purchase. The financing condition requires (i) the settlement of the issuance and offering of the New P-Caps by Trust II to several initial purchasers and (ii) the settlement and receipt by the Company of the net proceeds from the sale by the Company of the Eligible Assets received as consideration for the sale of the 2.330% Notes due 2030 to Trust I. The Company reserves the right, in its sole discretion, subject to applicable law, with respect to the Securities to: (i) waive any and all conditions to the Offer with respect to one or more Series of Securities; (ii) extend or terminate the Offer with respect to one or more Series of Securities or change the Acceptance Priority Level with respect to one or more Series of Securities; (iii) increase the Aggregate Offer Cap without extending the Withdrawal Deadline or otherwise reinstating withdrawal rights; (iv) increase, decrease or eliminate the Sub-Cap at any time, including on or after the Price Determination Date; or (v) otherwise amend the Offer in any respect in relation to one or more Series of Securities. Information Relating to the Offer TD Securities (USA) LLC is serving as the sole structuring advisor and lead dealer manager and BofA Securities, Inc. and Morgan Stanley & Co. LLC are serving as dealer managers for the Offer. The tender and information agent for the Offer is Global Bondholder Services Corporation. Copies of the Offer to Purchase and related offering materials are available by contacting Global Bondholder Services Corporation at (855) 654-2015 (toll-free) or (212) 430-3774 (banks and brokers). Questions regarding the Offer should be directed to TD Securities (USA) LLC at (212) 827-2806 (collect) or (866) 584-2096 (toll-free). This press release shall not constitute an offer to sell, a solicitation to subscribe for or purchase, an offer to subscribe for or purchase or a solicitation to sell any securities. The Offer is being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law. About Lincoln Financial Lincoln Financial helps people confidently plan for their vision of a successful financial future. As of December 31, 2024, approximately 17 million customers trust our guidance and solutions across four core businesses – annuities, life insurance, group protection, and retirement plan services. As of March 31, 2025, the company had $312 billion in end-of-period account balances, net of reinsurance. Headquartered in Radnor, PA, Lincoln Financial is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. Learn more at Cautionary Statement Regarding Forward-Looking Statements Certain statements made in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "PSLRA"). A forward-looking statement is a statement that is not a historical fact and, without limitation, includes any statement that may predict, forecast, indicate or imply future results, performance or achievements. Forward-looking statements may contain words like: "anticipate," "believe," "estimate," "expect," "project," "shall," "will" and other words or phrases with similar meaning in connection with a discussion of future operating or financial performance. In particular, these include statements relating to Trust II's intent to offer, sell and settle the New P-Caps, the Company's intent to consummate the exercise of its issuance right under the Facility Agreement with Trust I, issue and deliver the 2.330% Notes due 2030 to Trust I and the Company's intent to purchase Securities in the Offer, as well as statements related to the Company's intended use of proceeds from the sale of the Eligible Assets and the expected timing of the actions described herein. The Company claims the protection afforded by the safe harbor for forward-looking statements provided by the PSLRA. Forward-looking statements involve risks and uncertainties. Actual results could differ materially from those expressed in or implied by such forward-looking statements due to a variety of factors, including: Trust II's ability to consummate the New P-Caps issuance on favorable terms; our ability to consummate the exercise of our issuance right under the Facility Agreement with Trust I and sell the Eligible Assets in a timely manner and on favorable terms, and our ability to satisfy the conditions to the Offer, including the financing condition. The risks and uncertainties included herein are not exhaustive. The Company's most recent Annual Report on Form 10-K, as well as other reports that the Company files with the Securities and Exchange Commission, include additional factors that could affect future actions and our business and financial performance. Moreover, we operate in a rapidly changing and competitive environment. New risk factors emerge from time to time, and it is not possible for management to predict all such risk factors. Further, it is not possible to assess the effect of all risk factors on our businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. In addition, we disclaim any obligation to correct or update any forward-looking statements to reflect events or circumstances that occur after the date of this press release. View source version on Contacts Tina MadonInvestor Sarah BoxlerMedia Sign in to access your portfolio
Business Wire
09-05-2025
- Business
- Business Wire
Lincoln National Corporation to Hold 2025 Annual Meeting of Shareholders on May 22, 2025
RADNOR, Pa.--(BUSINESS WIRE)--Lincoln Financial (NYSE:LNC) announced today that Lincoln National Corporation will hold its 2025 Annual Meeting of Shareholders (the 'Annual Meeting') on Thursday, May 22, 2025, at 9:00 a.m., Eastern Time, in a virtual meeting format via live audio webcast. As described in the company's proxy materials for the Annual Meeting, only shareholders as of the close of business on March 17, 2025, the meeting record date, are entitled to attend and participate in the Annual Meeting. If you are a shareholder as of the record date for the Annual Meeting and you wish to attend the Annual Meeting, please log on to our annual meeting website at The virtual meeting platform is supported across various browsers and devices. Participants should ensure that they have a strong internet connection wherever they intend to participate in the Annual Meeting. We encourage you to access the Annual Meeting prior to the start time to allow ample time for online check-in. The website will be open for check-in beginning at 8:45 a.m., Eastern Time on the date of the Annual Meeting. To attend and participate in the Annual Meeting online, you will need your 'control number.' The control number is a 16-digit number that you can find in the Notice of Internet Availability (if you received proxy materials via electronic delivery), proxy card (if you are a shareholder of record who received proxy materials by mail), or voting instruction form (if you are a beneficial owner who received proxy materials by mail). Beneficial owners who do not have a control number should follow the instructions provided on the voting instruction card or otherwise provided by your bank, broker, or other nominee. Shareholders are encouraged to ask questions. Shareholders who wish to submit a question to be addressed during the Annual Meeting may do so by submitting the question in advance at by entering your control number and clicking on 'Submit Questions.' Questions may be submitted through May 21, 2025, at 5:00 p.m., Eastern Time. Questions pertinent to meeting matters will be addressed during the meeting, subject to time limitations. After the Annual Meeting, a recording of the meeting will be available to the public at until our 2026 Annual Meeting of Shareholders About Lincoln Financial Lincoln Financial helps people confidently plan for their vision of a successful financial future. As of December 31, 2024, approximately 17 million customers trust our guidance and solutions across four core businesses – annuities, life insurance, group protection, and retirement plan services. As of March 31, 2025, the company had $312 billion in end-of-period account balances, net of reinsurance. Headquartered in Radnor, PA., Lincoln Financial is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. Learn more at
