LNC - Lincoln National: Surging Industry Annuity Sales A Boon Q1 Results Mask Positive Trends
2024-05-26 21:54:51 ET
Summary
- There were strong Q1 annuity sales, with a 21% increase from the previous year, according to LIMRA.
- Insurance providers generally benefit from this demand boom for protective investment solutions amid a stabilizing fixed-income market.
- I am upgrading shares of Lincoln National from a hold to a buy based on positive earnings and valuation forecasts and improved share-price momentum.
- I outline key price levels to monitor following a breakout late last year.
It was another stellar quarter for domestic annuity sales. According to LIMRA , total US annuity sales totaled $113.5 billion from January through March, a 21% jump from the same period a year earlier. It was barely under Q4 2023’s record sum and the strongest first quarter since LIMRA began tracking data in the 1980s. ...
Lincoln National: Surging Industry Annuity Sales A Boon, Q1 Results Mask Positive Trends