Did Lincoln Financial’s New CIO and Royalty Fund Launch Just Shift LNC’s Investment Narrative?

• Lincoln Financial recently announced the appointment of John Morriss as Executive Vice President and Chief Investment Officer, effective October 13, 2025, bringing extensive investment expertise and prior company experience to oversee more than US$300 billion in assets.
• This leadership change closely follows the launch of the Lincoln Partners Group Royalty Fund, a new private market royalties evergreen fund for individual investors, reflecting the company’s push into innovative investment offerings.
• We'll now examine how the appointment of a seasoned Chief Investment Officer could influence Lincoln Financial's evolving investment story.

This technology could replace computers: discover 26 stocks that are working to make quantum computing a reality.

Lincoln National Investment Narrative Recap

To be a shareholder in Lincoln National, you need to believe in the company’s ability to transition towards a more diversified and capital-efficient business model that can offset legacy risks and drive sustainable long-term earnings. The appointment of John Morriss as Chief Investment Officer brings experience and continuity to Lincoln’s investment leadership, but is not expected to drastically alter in the short term the primary catalyst, increasing adoption of new, higher-margin products, or address the predominant risk of legacy variable annuity volatility.

Among recent developments, the launch of the Lincoln Partners Group Royalty Fund stands out for its relevance, as it highlights Lincoln’s push to expand and innovate in private markets. Shifts like this align with the company’s broader efforts to diversify earnings sources and reduce reliance on older, capital-intensive product lines, supporting its catalyst of building a more resilient revenue base.

Yet, in contrast, investors should be aware of how Lincoln’s continued exposure to legacy annuity risks could…

Read the full narrative on Lincoln National (it's free!)

Lincoln National's outlook forecasts $21.0 billion in revenue and $1.6 billion in earnings by 2028. This scenario assumes annual revenue growth of 5.2% and an earnings increase of $0.6 billion from current earnings of $1.0 billion.

Uncover how Lincoln National's forecasts yield a $42.75 fair value, a 6% upside to its current price.

Exploring Other Perspectives

Simply Wall St Community members value Lincoln National between US$28.99 and US$108.51, drawing from three distinct viewpoints. As you consider this wide spectrum of estimates, remember that the company’s push for diversification and new product growth could be weighed down by persistent risks in its legacy liability blocks.

Explore 3 other fair value estimates on Lincoln National - why the stock might be worth over 2x more than the current price!

Build Your Own Lincoln National Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Lincoln National research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision.
• Our free Lincoln National research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Lincoln National's overall financial health at a glance.

Ready To Venture Into Other Investment Styles?

The market won't wait. These fast-moving stocks are hot now. Grab the list before they run:

• Uncover the next big thing with financially sound penny stocks that balance risk and reward.
• Trump has pledged to "unleash" American oil and gas and these 22 US stocks have developments that are poised to benefit.
• These 13 companies survived and thrived after COVID and have the right ingredients to survive Trump's tariffs. Discover why before your portfolio feels the trade war pinch.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com