15 Best Stocks to Buy Now for Passive Income

8. Lincoln National Corporation (NYSE:LNC)

Dividend Yield as of March 5: 5.12%

On March 3, Morgan Stanley lowered its price recommendation on Lincoln National Corporation (NYSE:LNC) to $46 from $50. The firm reiterated an Overweight rating on the shares. The firm said it is updating price targets for Insurance – Life/Annuity North America companies under its coverage. The analyst noted that while Morgan Stanley is not concerned about life insurers’ exposure to private credit, the broader industry may still face pressure on valuations.

During the Q4 2025 earnings call, Ellen Cooper, Chairman, President and CEO of Lincoln Financial Group, said the company delivered a strong fourth quarter. She pointed out that adjusted operating income increased 31% compared with the same period a year earlier. The result marked the sixth consecutive quarter of year-over-year growth in adjusted operating earnings.

Executive Vice President and CFO Christopher Neczypor said adjusted operating income available to common shareholders totaled $434 million for the quarter, or $2.21 per diluted share. He also reported that net income available to common shareholders reached $745 million, which equals $3.80 per diluted share.

Neczypor also reviewed results across the company’s business segments. Group Protection generated operating income of $109 million during the quarter. The Annuities segment contributed $311 million. Retirement Plan Services reported operating income of $46 million, while the Life Insurance segment produced operating earnings of $77 million.

Lincoln National Corporation (NYSE:LNC) is a holding company that operates several insurance and retirement businesses through its subsidiaries. Its segments include Annuities, Life Insurance, Group Protection, and Retirement Plan Services.