Lincoln Financial expands board with new director

RADNOR, Pa. - Lincoln Financial (NYSE: LNC), a $6.1 billion market cap insurance provider trading at an attractive P/E ratio of 1.95, has announced the appointment of James Morris, former Chairman, President, and CEO of Pacific Life Insurance (NSE:LIFI) Company, to its Board of Directors. The election took place on Monday, effectively expanding the board from ten to eleven members.

Morris, who retired from Pacific Life in April 2022 after a distinguished 40-year tenure, brings a wealth of experience to the Lincoln Financial Board. His career at Pacific Life included progressive leadership roles such as Chief Operating Officer, Executive Vice President, and Chief Insurance Officer. He currently serves on the Board of Directors for Edison International (NYSE:EIX). According to InvestingPro data, Lincoln Financial maintains a GOOD overall financial health score, suggesting strong corporate governance practices.

Ellen Cooper, Lincoln Financial’s Chairman, President, and CEO, expressed confidence in Morris’s appointment, citing his extensive industry leadership and expertise in financial and risk management as assets that will benefit the company and its shareholders.

William Cunningham, the Lincoln Board’s lead independent director, echoed Cooper’s sentiments, emphasizing Morris’s leadership experience and his potential contribution to the company’s growth and shareholder value.

Morris expressed his enthusiasm about joining Lincoln Financial’s Board, acknowledging the company’s reputation and the strategic vision of its management team.

Lincoln Financial, known for offering guidance and solutions in annuities, life insurance, group protection, and retirement plan services, serves approximately 17 million customers. The company has demonstrated strong shareholder commitment with 55 consecutive years of dividend payments, currently offering a 4.75% yield. As of December 31, 2024, the company reported $321 billion in end-of-period account balances, net of reinsurance. The company’s headquarters are located in Radnor, Pa.InvestingPro analysis indicates that Lincoln Financial is currently trading below its Fair Value, with 8 additional ProTips and comprehensive financial metrics available to subscribers. Access the detailed Pro Research Report, part of InvestingPro’s coverage of 1,400+ US equities, for in-depth analysis and actionable insights.

This board expansion news is based on a press release statement from Lincoln Financial.

In other recent news, Lincoln National Corporation (NYSE:LNC) reported its fourth-quarter 2024 financial results, which exceeded analyst expectations. The company posted adjusted operating earnings of $1.91 per share, surpassing the consensus estimate of $1.83. Revenue for the quarter reached $5.06 billion, also beating the projected $4.67 billion. Net income available to common stockholders was $1.7 billion, or $9.63 per diluted share, driven by changes in market risk benefits and fair value changes of an embedded derivative. The Annuities segment reported operating income of $303 million, marking a 14% increase year-over-year. Group Protection more than doubled its operating income to $107 million, with an expanded margin of 8.4%. Lincoln National’s estimated risk-based capital ratio exceeded 430% at the end of the year, indicating a strong capital position. The company did not provide specific forward guidance in its release.

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