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JXN vs LNC
Which Stock Would AI Choose? Jackson Financial Inc. (JXN) vs. Lincoln National Corporation (LNC) Stock Comparison
Key Takeaways
- Jackson Financial (JXN) has demonstrated exceptional annuity sales momentum, with record retail annuity sales of $19.7 billion in full-year 2025 and a strategic partnership with TPG, positioning it for continued double-digit growth in spread-based products.
- Lincoln National (LNC) is executing a multi-year transformation anchored by an $825 million strategic investment from Bain Capital and a 10-year asset management partnership, with accelerating momentum in its Group Protection segment.
- Both companies operate in the life insurance and retirement solutions space but differ in business mix: JXN is heavily concentrated in annuities, while LNC is more diversified across annuities, life insurance, group protection, and retirement plan services.
- On valuation, LNC trades at a notably lower price-to-earnings (P/E) ratio of approximately 4.5x, while JXN commands a higher multiple, reflecting its stronger recent sales growth trajectory and aggressive capital return program.
- JXN's risk-based capital (RBC) ratio of 567% significantly exceeds LNC's ratio above 420%, giving JXN a wider capital cushion — though both remain well above regulatory requirements.
- Analyst sentiment leans more bullish on JXN, with Jefferies upgrading the stock to Buy in July 2026, while LNC holds a consensus "Moderate Buy" rating with a broader mix of analyst opinions.
Introduction
Investors evaluating the life insurance and retirement services sector are increasingly focused on which companies can best navigate rising interest rates, shifting consumer demand toward spread-based products, and evolving capital deployment strategies. JXN (Jackson Financial Inc.) and LNC (Lincoln National Corporation) represent two distinct approaches to capturing growth in the U.S. retirement market. Both have recently forged strategic partnerships with major private investment firms — TPG for JXN and Bain Capital for LNC — signaling confidence in their respective business models. This comparison examines how these two insurers stack up across growth momentum, diversification, capital strength, and market positioning to help traders and investors assess the relative opportunity set.
JXN Overview and Recent Performance
JXN, headquartered in Lansing, Michigan, is a leading U.S. retirement services provider operating primarily through its flagship subsidiary, Jackson National Life Insurance Company. The company specializes in a broad range of annuity products, including variable annuities, registered index-linked annuities (RILA), and fixed and fixed index annuities. In recent weeks, JXN's stock has traded in a range between approximately $106 and $126, reflecting a market capitalization near $8.8 billion.
The company's operational momentum has been formidable. Full-year 2025 retail annuity sales reached a record $19.7 billion, up 10% year-over-year, with RILA sales hitting $6.9 billion (up 22%) and institutional sales surging 77% to $3.5 billion. Adjusted operating earnings for 2025 came in at $1.6 billion, or $22.67 per diluted share, with an adjusted operating return on equity (ROE) of 14.7%. JXN also returned $862 million to common shareholders through buybacks and dividends in 2025. A pivotal development came with TPG's $500 million investment into JXN's Brooke Re capital structure, which Jefferies cited as a key reason for upgrading JXN to Buy with a $140 price target in July 2026. The company maintains a robust RBC ratio of 567%, well above regulatory thresholds.
LNC Overview and Recent Performance
LNC, doing business as Lincoln Financial Group, is a diversified financial services holding company headquartered in Radnor, Pennsylvania. The company operates through four business segments: Annuities, Life Insurance, Group Protection, and Retirement Plan Services, serving approximately 17 million customers with $312 billion in end-of-period account balances as of early 2025. In recent market activity, LNC shares have fluctuated between roughly $32 and $47, with a market capitalization around $7.5 billion.
Lincoln National's transformation story has been driven by a deliberate pivot toward spread-based earnings, expense discipline, and product mix diversification. In June 2025, the company closed its landmark $825 million strategic partnership with Bain Capital, which acquired a 9.9% common equity stake at $44 per share — a 25% premium to the prevailing market price. Under the 10-year agreement, Bain Capital will manage at least $20 billion in assets by year six, providing LNC with differentiated access to private credit, structured assets, and other alternative asset classes. For Q1 2026, LNC reported adjusted earnings per share of $1.66, beating consensus estimates, with Group Protection delivering record margins. The company's RBC ratio remains above 420%, comfortably exceeding its 400% target. In July 2026, Barclays upgraded LNC to Overweight, citing a nearing end to its capital-building phase and potential for share repurchases.
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Head-to-Head Comparison
While both JXN and LNC operate in the retirement and insurance space, their business models differ meaningfully. JXN is a pure-play annuity powerhouse, generating the vast majority of its revenue from retail annuity sales. This focus has allowed it to achieve exceptional scale in RILA and variable annuity markets, but it also means JXN's earnings are more sensitive to equity market performance and interest rate movements. Jefferies has noted that JXN's earnings profile is likely the most levered to equity markets in its coverage universe.
LNC, by contrast, offers a more diversified earnings base. Its Group Protection segment — which now contributes over 25% of operating earnings — provides a countercyclical buffer that JXN lacks. LNC's Life Insurance and Retirement Plan Services segments add further diversification. However, LNC has faced net outflows in its Annuities segment and has lower overall sales growth compared to JXN. On capital strength, JXN's 567% RBC ratio provides a materially larger cushion than LNC's ratio above 420%, though both are healthy. On valuation, LNC trades at a notably lower P/E multiple, which some analysts attribute to its more complex turnaround narrative and historical earnings volatility. In terms of capital return, JXN has been far more aggressive, repurchasing 33% of outstanding shares since its 2021 separation and targeting $900 million to $1.1 billion in 2026 capital returns — a program LNC has yet to resume meaningfully.
Tickeron AI Verdict
Based on observable, data-driven factors, Tickeron's AI analytical framework would likely express a measured preference for JXN in the current market environment. The rationale centers on several interlocking signals: stronger and more consistent top-line sales growth, a wider RBC capital buffer, aggressive and sustained shareholder capital returns, and an earnings profile that — while more equity-sensitive — has benefited from the broader market's upward trajectory. The recent Jefferies upgrade and the TPG partnership further reinforce positive trend consistency. That said, LNC presents a compelling value case with its lower P/E multiple, Bain Capital partnership, and improving free cash flow outlook. For AI models that incorporate valuation factors alongside momentum signals, LNC's improving fundamentals and potential share buyback catalyst could narrow the gap. Ultimately, the AI verdict is probabilistic: JXN appears better positioned on trend strength and operational momentum, while LNC offers a deeper-value proposition that may appeal under different risk-reward parameters.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is JXN is a Buy and LNC is a Hold.
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is undervalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
JXN’s FA Score shows that 0 FA rating(s) are green whileLNC’s FA Score has 1 green FA rating(s).
- JXN’s FA Score: 0 green, 5 red.
- LNC’s FA Score: 1 green, 4 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
JXN’s TA Score shows that 5 TA indicator(s) are bullish while LNC’s TA Score has 3 bullish TA indicator(s).
- JXN’s TA Score: 5 bullish, 4 bearish.
- LNC’s TA Score: 3 bullish, 6 bearish.
Price Growth
JXN (@Life/Health Insurance) experienced а +0.78% price change this week, while LNC (@Life/Health Insurance) price change was -2.98% for the same time period.
The average weekly price growth across all stocks in the @Life/Health Insurance industry was -0.50%. For the same industry, the average monthly price growth was -2.66%, and the average quarterly price growth was +5.03%.
Reported Earning Dates
JXN is expected to report earnings on Nov 11, 2026.
LNC is expected to report earnings on Nov 04, 2026.
Industries' Descriptions
@Life/Health Insurance (-0.50% weekly)Life insurance companies mainly sell policies that pay a death benefit as a lump sum upon the death of the insured to their beneficiaries. Life insurance policies may be sold as term life, (which guarantees payment of a stated death benefit and expires at the end of a specified term) or permanent /typically whole life (which is more expensive but lasts a lifetime and carries a cash accumulation component). Life insurance firms may also sell long-term disability policies that help to replace the insured individual’s income if they become sick or disabled. Health insurance, on the other hand, helps pay for medical expenses. Anthem, Inc., MetLife, Inc. and Aflac Incorporated are some of the largest U.S. companies in this industry.
| JXN | LNC | JXN / LNC | |
| Capitalization | 9.1B | 8.67B | 105% |
| EBITDA | N/A | N/A | - |
| Gain YTD | 28.175 | 5.282 | 533% |
| P/E Ratio | 147.67 | 3.81 | 3,871% |
| Revenue | 5.7B | 19.5B | 29% |
| Total Cash | N/A | 39.4B | - |
| Total Debt | 4.57B | 6.87B | 67% |
LNC | ||
|---|---|---|
OUTLOOK RATING 1..100 | 62 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 8 Undervalued | |
PROFIT vs RISK RATING 1..100 | 100 | |
SMR RATING 1..100 | 71 | |
PRICE GROWTH RATING 1..100 | 43 | |
P/E GROWTH RATING 1..100 | 91 | |
SEASONALITY SCORE 1..100 | 50 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
| JXN | LNC | |
|---|---|---|
| RSI ODDS (%) | 2 days ago 67% | 2 days ago 74% |
| Stochastic ODDS (%) | 2 days ago 64% | 2 days ago 71% |
| Momentum ODDS (%) | 2 days ago 78% | 2 days ago 72% |
| MACD ODDS (%) | 2 days ago 72% | 2 days ago 67% |
| TrendWeek ODDS (%) | 2 days ago 78% | 2 days ago 70% |
| TrendMonth ODDS (%) | 2 days ago 78% | 2 days ago 68% |
| Advances ODDS (%) | 2 days ago 78% | 11 days ago 73% |
| Declines ODDS (%) | 8 days ago 63% | 3 days ago 70% |
| BollingerBands ODDS (%) | 2 days ago 63% | 2 days ago 78% |
| Aroon ODDS (%) | 2 days ago 75% | 2 days ago 57% |
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JXN and
Correlation & Price change
A.I.dvisor indicates that over the last year, JXN has been loosely correlated with LNC. These tickers have moved in lockstep 64% of the time. This A.I.-generated data suggests there is some statistical probability that if JXN jumps, then LNC could also see price increases.
LNC and
Correlation & Price change
A.I.dvisor indicates that over the last year, LNC has been closely correlated with MET. These tickers have moved in lockstep 69% of the time. This A.I.-generated data suggests there is a high statistical probability that if LNC jumps, then MET could also see price increases.