Lincoln National: Positioned To Withstand Private Credit Challenges

Seeking Profits5.32K FollowersFollow5ShareSavePlay(9min)CommentsSummaryLincoln National is a "Buy" after a ~25% pullback, with conservative portfolio positioning and improving fundamentals.Private credit fears have been overdone; LNC's exposure is limited, high-quality, and new investments are accretive to book yield.Core businesses—annuities, group protection, retirement, and life insurance—are delivering solid growth and margin improvements.Balance sheet strength, a 5.3% secure dividend yield, and potential buybacks support upside to a $45 price target. arlutz73/iStock Editorial via Getty Images Shares of Lincoln National (LNC) have been a poor performer over the past year, losing about 9% of their value. While the company has made tremendous progress in turning around results, optimism in its own turnaround has been overwhelmed by fears around privateThis article was written bySeeking Profits5.32K FollowersFollowOver fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, just let me know!Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.