Voya Financial Inc Stock Price, News & Analysis

Voya Financial (NYSE: VOYA) aims for a 12-17% annual growth in adjusted operating earnings per share (EPS) through 2024, driven by net revenue growth, margin expansion, and disciplined capital management. CEO Rodney O. Martin highlighted a strong focus on workplace and institutional services, promoting better health, wealth, and investment outcomes. The company expects significant free cash flow conversion over the next three years, alongside a target operating return on equity of 14-16%. In 2020, Voya reported $7.6 billion in revenue and $718 billion in total assets.

Voya Financial (NYSE: VOYA) has launched MyCompass American Funds, a new target date fund (TDF) for retirement plans, catering to the growing demand for active equity management. This series, which supports a more active approach, builds on the success of Voya’s MyCompass Index, which has surpassed $2 billion in assets since 2019. Key features of the MyCompass American Funds include an innovative glidepath, actively managed funds, and a stable value allocation aimed at enhancing returns while mitigating risk.

Voya Financial (NYSE: VOYA) will host an audio and video webcast of its 2021 investor day on Monday, Nov. 15, 2021, at 1 p.m. ET. The event will feature discussions on Voya’s strategy, business performance, and financial results by senior management. Investors can access the live stream on the company's investor relations website. A replay will be available starting at 11 a.m. ET on Nov. 16, 2021. Voya serves 14.8 million clients with a focus on being a socially responsible and ethical company.

Voya Financial reported a strong third-quarter 2021, achieving record adjusted operating earnings of $2.57 per diluted share compared to $0.30 from the previous year. The net income available to common shareholders stood at $142 million, or $1.15 per share. Significant operational growth was noted in Wealth Solutions, with full-service recurring deposits growing 8.7% year-over-year. Voya plans to repurchase at least $1.1 billion in common stock and increased its dividend by over 20% to $0.20 per share. Total assets under management reached $718 billion.

Voya Investment Management has announced key appointments to enhance its Equities platform, including the promotion of Vincent Costa to co-CIO and the addition of Eric Ross as a senior technology analyst. The restructuring includes a centralized research team, led by James Dorment and Kristy Finnegan as co-heads of fundamental research. Together, these changes aim to strengthen Voya's investment strategies and align with client demand, supporting the firm’s growth objectives.

Voya Financial, Inc. (NYSE: VOYA) has announced the redemption of its 3.125% Senior Notes due 2024, with an outstanding principal amount of $400,000,000. The redemption will occur on Nov. 29, 2021, at a price equal to either 100% of the principal plus accrued interest or the Make-Whole Redemption Amount, whichever is greater. The funding for this redemption will be sourced from cash on hand, emphasizing Voya's financial stability and liquidity.

Voya Financial has declared a common stock dividend of $0.20 per share for Q4 2021, reflecting a more than 20% increase from the previous dividend of $0.165. This dividend will be payable on Dec. 29, 2021, to shareholders of record by Nov. 29, 2021. Additionally, a quarterly dividend of $13.3750 per share on the Series B preferred stock has been announced, payable on Dec. 15, 2021. Voya emphasizes this increase as a demonstration of confidence in business performance and commitment to shareholder value.

Voya Financial (NYSE: VOYA) has announced the top three winners of its annual Voya Unsung Heroes grant program. A total of $5.8 million has been awarded to educators over 25 years. First place, Nicole Bay and Christian Kollegger, received $25,000 for their program on urban farming. Second place went to Susan Nicholson-Dykstra with $10,000 for her physics project. Kenneth Huff and Thomas Bird placed third, earning $5,000 for their electrochemistry initiative.