Voya Financial Inc Stock Price, News & Analysis

BNY Mellon Investment Management, with $2.3 trillion in assets, announced that Voya Financial will be the first recordkeeper to support its Custom Target Date Builder (CTDB) solution, enhancing access to customizable retirement portfolios for advisors. Launched in December 2020, CTDB allows advisors to offer custom retirement solutions across various plan sizes. Andy Provencher of BNY Mellon and Jeff Cimini of Voya emphasize the importance of this collaboration for improving retirement outcomes.

Voya Financial (NYSE: VOYA) announced its support for the ABLE Employment Flexibility Act (H.R. 4672), aimed at enhancing financial wellbeing for workers with disabilities. The bill proposes equal tax treatment for employer contributions to ABLE accounts and retirement plans, making it easier for employees with disabilities to save without losing access to government benefits. Currently, these contributions do not receive tax deduction status. The legislation would help employees retain eligibility for vital means-tested benefits while allowing savings up to $15,000 annually.

Voya Financial (NYSE: VOYA) has released its 2020-2021 Impact Report showcasing its environmental, social, and governance (ESG) efforts from January 1, 2020, to June 30, 2021. The report, themed 'Together in Action', details Voya's ESG strategy, climate change initiatives, diversity efforts, and financial wellness programs. Highlights include Voya's governance practices, new solutions aimed at financial inclusion, and its commitment to a just society. The report adheres to Global Reporting Initiative standards, reinforcing Voya’s position as a responsible corporate citizen.

Voya Financial, Inc. (NYSE: VOYA) has enhanced its critical illness insurance to address employees' financial wellness needs post-COVID-19. The updated offering includes an Absence from Employment Premium Waiver to alleviate premium payments for employees on leave and an Infectious Disease Benefit, now explicitly covering COVID-19. Recent research indicates 81% of employees desire employer support for financial wellness, emphasizing the importance of such benefits. Voya aims to support employees by easing financial burdens during health crises, promoting recovery and peace of mind.

Voya Financial, Inc. (NYSE: VOYA) announced that Michael Smith, vice chairman and CFO, will participate in the 2021 KBW Insurance Conference on September 9, 2021, at approximately 3:40 p.m. ET. A webcast will be available for those interested, and participants are advised to log in 15 minutes early to prepare. Voya serves about 14.8 million clients, offering health, wealth, and investment solutions. In 2020, Voya reported $7.6 billion in revenue and managed $721 billion in assets as of June 30, 2021. The company is recognized for its commitment to ethical business practices.

Voya Financial reported a strong second quarter of 2021, with net income available to common shareholders at $459 million ($3.53 per diluted share), a significant recovery from a loss of $66 million in the same period last year. Adjusted operating earnings surged to a record $287 million ($2.20 per diluted share), driven by robust investment income and business performance. Wealth Solutions saw a 6.7% increase in recurring deposits, while Health Solutions' premiums rose 9.8%. The company also repurchased $518 million in common stock in Q2 and maintains $1.5 billion in excess capital.

Voya Financial (NYSE: VOYA) announced a common stock dividend of $0.165 per share for Q3 2021, payable on Sept. 29, 2021, to shareholders of record as of Aug. 26, 2021. The board also declared a semi-annual dividend of $30.625 per share on Series A fixed-rate preferred stock and a quarterly dividend of $13.3750 per share on Series B preferred stock, both payable on Sept. 15, 2021. Voya continues to focus on helping its approximately 14.8 million clients achieve financial wellness.