LNC - Warren Buffett Would Have Loved This Stock Before He Became a Billionaire
Poaching some of Berkshire Hathaway 's picks for yourself is a savvy strategy for most investors. But did you know that Warren Buffett and his team can't simply buy a stake in any outfit they like? Between a stock portfolio worth more than $300 billion and a bunch of other privately held companies worth roughly the same amount, some publicly traded companies are too small for Berkshire to bother with; there's also the regulatory hassle of owning more than 5% of a particularly company's shares.
That doesn't mean the Buffett-led conglomerate wouldn't have bought certain small names before Berkshire grew into a behemoth though. One of the tickers he'd very likely have scooped up before he became a multi-billionaire is insurer Lincoln National Corporation (NYSE: LNC) . Here's why.
As far as life insurers and retirement plan providers go, Lincoln National isn't exactly a top name. The $8 billion outfit serves 17 million customers, and turned $19.2 billion worth of revenue into net income of $1.4 billion last year. This year's top and bottom lines are tracking at a similar pace, which is respectable but hardly eye-popping.
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Warren Buffett Would Have Loved This Stock Before He Became a Billionaire