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Voya Financial (NYSE: VOYA) plans $300M buybacks, previews Q1 alt income

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Voya Financial, Inc. provided an update on capital deployment and preliminary alternative investment income for the quarter ended March 31, 2026. Share repurchases of common stock totaled $150 million in the first quarter, and the company entered into an accelerated share repurchase agreement for an additional $150 million in the second quarter of 2026.

For the first quarter of 2026, combined alternative investment income is estimated at $35 million to $45 million pre-tax, with a mid-point implying an annualized return of about 7.5%. Management emphasized these figures are preliminary, unaudited, subject to change as closing procedures are completed, and should not be viewed as a substitute for full U.S. GAAP financial statements. Further updates are expected with the quarterly earnings materials scheduled for early May 2026.

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Insights

Voya signals active capital return and preliminary alt income.

Voya Financial reports $150 million of common stock repurchases in Q1 2026 and has committed to another $150 million via an accelerated share repurchase in Q2 2026. This highlights ongoing use of excess capital for buybacks.

The company also estimates Q1 2026 alternative investment income of $35 million to $45 million, with a mid-point annualized return of about 7.5%. These results are preliminary, unaudited and may change once closing procedures for the quarter ended March 31, 2026 are complete, so their ultimate effect on earnings will be clearer after the scheduled early May disclosures.

Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Q1 2026 share repurchases $150 million Common stock repurchases during first quarter 2026
Q2 2026 accelerated share repurchase $150 million ASR agreement to acquire common stock in second quarter 2026
Q1 2026 alternative investment income range $35 million–$45 million pre-tax Estimated combined alternative investment income before variable and incentive compensation
Annualized return on alternatives (mid-point) 7.5% Implied annualized return for Q1 2026 alternative investment income mid-point
accelerated share repurchase agreement financial
"the company has entered into an accelerated share repurchase agreement to acquire $150 million"
An accelerated share repurchase agreement is a deal where a company quickly buys back its own shares by paying a financial institution up front, while the institution delivers shares it borrows and settles the exact quantity later based on market prices. For investors this matters because it immediately reduces the number of shares outstanding and can boost per-share earnings, change cash and leverage levels, and signal management’s view on the stock’s value.
alternative investment income financial
"the Company's combined alternative investment income is estimated to be approximately $35 million - $45 million"
Income generated from assets other than public stocks, bonds or cash—examples include rents from property, payouts from private equity or hedge funds, royalties, and gains from commodities or collectibles. It matters to investors because it can boost returns and reduce reliance on traditional markets, but such income is often less regular, harder to sell and can have different tax and risk characteristics — think of it like earning from renting a vacation home versus receiving a steady dividend.
general account financial
"Included in these figures is alternative investment income in our general account"
A general account is the main pool of assets an insurance company holds to pay claims and guarantee products that are backed by the insurer itself, not by the individual policyholder’s investments. Think of it as the company’s central checking account: investors care because obligations paid from this account depend on the insurer’s overall financial health and credit strength, so problems there can affect guarantees, dividends and the company’s ability to meet commitments.
Investment Management segment financial
"and investment capital returns in our Investment Management segment"
forward-looking statements regulatory
"includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Understanding 8-K Material Events →
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 8, 2026
VOYA FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
Delaware
001-35897
No.
52-1222820
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification Number)
200 Park Avenue
New York
New York
10166
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code: (212) 309-8200
N/A
(Former name or former address, if changed since last report)
     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbolName of each exchange on which registered
Common Stock, $.01 Par ValueVOYANew York Stock Exchange
Depositary Shares, each representing a 1/40thVOYAPrBNew York Stock Exchange
interest in a share of 5.35% Fixed-Rate Non-Cumulative Preferred Stock, Series B, $0.01 par value
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ 



Item 7.01    Regulation FD Disclosure
Voya Financial, Inc. (the "Company", "we" and "our") is furnishing this Current Report on Form 8-K to disclose alternative investment income expectations prior to the availability of the Company’s quarterly earnings release and quarterly financial supplement for the quarter ended March 31, 2026, scheduled for release on May 5, 2026.
Capital Deployment Update.
Share repurchases of the Company's common stock for the first quarter 2026 totaled $150 million. In addition, the company has entered into an accelerated share repurchase agreement to acquire $150 million of the Company's common stock during the second quarter of 2026.
Alternative Investment Income.
For the first quarter of 2026, the Company's combined alternative investment income is estimated to be approximately $35 million - $45 million (pre-tax), before variable and incentive compensation. The mid-point of this range represents an annualized return of approximately 7.5%. Included in these figures is alternative investment income in our general account and investment capital returns in our Investment Management segment.
We will provide further updates on the upcoming first quarter earnings call on May 6, 2026.
The preliminary financial results presented above are the responsibility of management and have been prepared in good faith on a consistent basis with prior periods. However, we have not completed our financial closing procedures for the three months ended March 31, 2026, and our actual results could be materially different from these preliminary financial results. In addition, Ernst & Young LLP, our independent registered public accounting firm, has not audited, reviewed, compiled, or performed any procedures with respect to these preliminary financial results and does not express an opinion or any other form of assurance with respect to these preliminary financial results or their achievability. During the course of the preparation of our consolidated financial statements and related notes as of and for the three months ended March 31, 2026, we may identify items that would require us to make material adjustments to the preliminary financial results presented above. As a result, prospective investors should exercise caution in relying on this information and should not draw any inferences from this information regarding financial or operating data not provided. These preliminary financial results should not be viewed as a substitute for full financial statements prepared in accordance with U.S. GAAP. In addition, these preliminary financial results are not necessarily indicative of the results to be achieved in any future period.
The information in this current report on Form 8-K includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company does not assume any obligation to revise or update these statements to reflect new information, subsequent events or changes in strategy. Factors that may cause actual results to differ from those in any forward-looking statement also include those described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Trends and Uncertainties” in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and in other documents filed from time to time with the SEC, as applicable, all of which are available at www.sec.gov.



As provided in General Instruction B.2 of Form 8-K, the information provided pursuant to this Item 7.01 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.


SIGNATURES
    Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Voya Financial, Inc.
(Registrant)

By:        /s/ Julie Watson             
Name:    Julie Watson
Title:    Vice President, Counsel and Corporate Secretary 
Dated: April 8, 2026


Source: View Original Filing on SEC EDGAR

FAQ

What capital deployment did Voya Financial (VOYA) report for Q1 2026?

Voya Financial repurchased $150 million of its common stock in the first quarter of 2026. It also entered an accelerated share repurchase agreement to buy an additional $150 million of shares during the second quarter, signaling continued use of excess capital for buybacks.

What are Voya Financial’s estimated alternative investment income results for Q1 2026?

For the first quarter of 2026, Voya estimates combined alternative investment income of about $35 million to $45 million pre-tax. The mid-point of this range implies an annualized return of roughly 7.5%, including results from the general account and Investment Management segment.

How reliable are Voya Financial’s preliminary Q1 2026 figures?

The preliminary Q1 2026 figures are management estimates and may change. Voya has not completed its closing procedures, and its auditor, Ernst & Young LLP, has not audited or reviewed these numbers, so they should not replace full U.S. GAAP financial statements.

When will Voya Financial release full Q1 2026 results?

Voya Financial plans to release its quarterly earnings materials for the period ended March 31, 2026 on May 5, 2026. The company also expects to provide further updates on alternative investment income during its first quarter earnings call on May 6, 2026.

What does Voya’s estimated 7.5% annualized return on alternatives mean?

The mid-point of Voya’s estimated Q1 2026 alternative investment income range implies about a 7.5% annualized return. This figure reflects performance of alternative assets in the general account and Investment Management segment over the quarter, before variable and incentive compensation and on a pre-tax basis.

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