11:35 AM EDT, 05/08/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

LNC posted Q1 2025 operating EPS of $1.60, up from $1.22 Y/Y but below our $1.92 estimate and consensus of $1.52, while mark-to-market charges led to a $4.41 GAAP net loss versus $6.93 GAAP EPS last year. Consolidated operating revenues grew 2.9%, driven by 4.7% higher premiums, 8.2% higher investment income, and 3.1% higher fee revenues. Annuity sales surged 33% to $3.8B, with spread-based products accounting for 60% of sales, while life insurance sales grew 7% and Group Protection sales increased 9%. The Group Protection segment showed improvement with operating profits up 26% and loss ratio improving 260 bps to 72.4%, though Retirement Plan Services experienced significant outflows of $2.2B versus inflows of $391M last year. While we acknowledge LNC's progress in rebuilding capital, realigning operations, and reallocating resources, we believe LNC remains too exposed to equity market fluctuations, with its high beta of 1.55 suggesting excessive risk without commensurate upside potential.