Welcome to our dedicated page for Voya Financial news (Ticker: VOYA), a resource for investors and traders seeking the latest updates and insights on Voya Financial stock.
Voya Financial, Inc. reports news about its retirement, employee benefits and investment management businesses in the United States. Recurring updates include quarterly earnings by segment, fee-based revenue, net underwriting results, assets under management, capital deployment, common and preferred stock dividends, and investment income from the company’s general account and investment management activities.
Company news also covers retirement-savings policy developments, workplace-benefits collaborations, disability inclusion through Voya Cares, and shareholder commentary on governance, management accountability and the employee benefits stop-loss business.
Voya Financial (NYSE: VOYA) has launched the new MyCompass Target Date Blend Series, a collective investment trust series trusteed by Great Gray Trust Company. This expansion builds upon Voya's $25 billion target date solutions portfolio.
The new series mirrors Voya Investment Management's Target Retirement Trust and features:
- A participant-focused glide path maximizing early wealth through higher equity exposure
- A blend of active and passive management with fees ranging from 18-20 bps
- Multi-manager framework to reduce investment risks
- Stable Value allocation for reduced volatility near retirement
The solution is sub-advised by flexPATH Strategies, as fiduciary for investment selection, while Voya IM serves as the glide path fiduciary. This launch comes as the target date industry reaches a record $3.5 trillion in assets.
Voya Financial (NYSE: VOYA) has released a new consumer survey revealing that working Americans find determining retirement savings amounts nearly as confusing as understanding teenage slang. The survey shows 29% of benefits-eligible workers struggle with retirement savings decisions, compared to 32% who find teenage slang confusing.
Key findings indicate that 61% of Americans believe the economy and 60% cite inflation will significantly impact their retirement savings ability. Notably, 49% of respondents consider their retirement plan as their only significant emergency savings, up from 43% in January 2023.
The research highlights that 83% of workers value guidance on optimizing retirement savings and workplace benefits. Additionally, 75% of benefits-eligible workers seek support tools for managing retirement, emergency savings, and healthcare expenses. The survey also reveals increased interest in voluntary benefits, with 61% of workers feeling more financially secure due to their enrolled voluntary benefits.
Voya Global Advantage and Premium Opportunity Fund (NYSE: IGA) and Voya Infrastructure, Industrials and Materials Fund (NYSE: IDE) have announced their monthly distributions for March 2025. The distribution amounts are set at $0.085 per share for IGA and $0.100 per share for IDE, payable on March 17, 2025.
The distributions are part of the Funds' Managed Distribution Plan, approved by the Board of Trustees to provide monthly cash distributions to common shareholders. The Funds have indicated that they have distributed more than their income and net realized capital gains, suggesting that a portion of the distribution may represent a return of capital.
Shareholders are advised that the actual tax reporting amounts will be provided in Form 1099-DIV for the calendar year, and the final distribution characterization may change based on the Funds' investment experience and tax regulations.
State Street Global Advisors (NYSE: STT) announced the expansion of its IncomeWise™ Target Retirement Strategies to the Voya Financial recordkeeping platform. The ABA Retirement Funds Program will be the first adopter on this platform, with Mercer Trust Company serving as the investment fiduciary.
IncomeWise combines traditional index-based target-date funds with optional income features, including deferred annuity payments and automatic monthly withdrawals. The solution, which has over $20 billion in committed assets, will be available through Voya as the second recordkeeper after Fidelity Investments.
This expansion aligns with State Street's strategy to provide flexible retirement solutions, helping participants build confidence in their financial futures through a simple two-step election process for activating income across their target-date fund balance.
Voya Global Advantage and Premium Opportunity Fund (IGA) and Voya Infrastructure, Industrials and Materials Fund (IDE) have announced their February 2025 monthly distributions. IGA will distribute $0.085 per share, while IDE will distribute $0.100 per share, both payable on February 18, 2025.
For IGA, the distribution sources include: 14.10% from net investment income, 11.80% from short-term capital gains, and 74.10% from return of capital. IDE's distribution comprises: 3% from net investment income, 54% from long-term capital gains, and 43% from return of capital.
The funds' performance metrics show IGA's five-year average annual return at 7.08% with a current annualized distribution rate of 10.04%, while IDE posted a five-year return of 7.61% with a 10.43% annualized distribution rate. Both funds have achieved positive fiscal year-to-date returns, with IGA at 2.01% and IDE at 1.95%.
Voya Financial (NYSE: VOYA) reported its Q4 and full-year 2024 results, with Q4 net income of $93 million ($0.94 per share) and adjusted operating earnings of $138 million ($1.40 per share). Full-year net income reached $626 million ($6.17 per share) with adjusted operating earnings of $736 million ($7.25 per share).
The company demonstrated strong performance in Wealth Solutions and Investment Management, though offset by higher loss ratios in Health Solutions. Notable achievements include returning $800 million to shareholders through dividends and buybacks, generating $650 million in excess capital, and completing the OneAmerica Financial's retirement plan business acquisition.
Wealth Solutions saw significant growth with total client assets reaching $612 billion (up 12% YoY), while Investment Management generated net inflows of $12.5 billion for the year. However, Health Solutions experienced challenges, particularly in Stop Loss business, leading to implementation of rate increases and strengthened underwriting.
Voya Financial (NYSE: VOYA) has announced its board of directors' declaration of dividends for Q1 2025. The company will pay a common stock dividend of $0.45 per share on March 27, 2025, to shareholders of record as of February 25, 2025.
Additionally, the board declared two preferred stock dividends: a semi-annual dividend of $38.79 per share on Series A 7.758% fixed-rate reset non-cumulative preferred stock, and a quarterly dividend of $13.3750 per share on Series B 5.35% fixed-rate reset non-cumulative preferred stock (equivalent to $0.334375 per depositary share). Both preferred stock dividends will be paid on March 17, 2025, to shareholders of record as of February 25, 2025.
Voya Financial (NYSE: VOYA) has announced its participation in the upcoming BofA Securities Financial Services Conference. CEO Heather Lavallee and CFO Michael Katz will engage in a fireside chat and Q&A session discussing various industry and company topics on Tuesday, February 11, 2025, at 3:30 p.m. ET.
The presentation will be accessible via webcast, with interested parties advised to log in at least 15 minutes before the start time to ensure proper software installation. The webcast will be available through the BofA veracast platform.
Voya Financial (NYSE: VOYA) has launched Lifetime Life Insurance, a new group term permanent life insurance product offered through workplaces. This innovative solution combines two key protections: life insurance benefits and an accelerated benefit for qualified long-term care (LTC) services.
The product addresses a significant market gap, as research shows that while 70% of people will need long-term care in their lifetime, only 3.1% of Americans have LTC coverage. As a 100% employee-paid benefit, it features unchanging premiums and portable coverage that employees can maintain even after leaving their employer.
Key advantages include:
- Accelerated benefits for illness or qualified long-term care services
- Enhanced employer benefits menus
- Convenient payroll deductions
- Portable coverage through retirement
Voya Global Advantage and Premium Opportunity Fund (IGA) and Voya Infrastructure, Industrials and Materials Fund (IDE) have announced their monthly distributions for January 2025. IGA will distribute $0.085 per share, while IDE will distribute $0.100 per share, both payable on January 15, 2025.
For IGA, the distribution comprises 26.61% from net investment income and 73.39% from net realized long-term capital gains. IDE's distribution consists of 52.21% from net realized short-term capital gains and 47.79% from net realized long-term capital gains.
The funds' performance metrics show strong results, with IGA reporting a five-year average annual total return of 7.49% and IDE at 8.15%. The current annualized distribution rates stand at 9.73% for IGA and 9.90% for IDE, based on NAV as of November 29, 2024.