Voya Financial Inc
VOYA
ISIN US9290891004 / Valor 24010483
Voya Financial Inc
UMushroom community rating:
About company
Voya Financial Inc. is a prominent American company specializing in retirement products and services, catering to a broad clientele that includes over 54,000 institutional clients and more than 6 million individual retirement plan participants. The company employs approximately 600 financial professionals who offer a range of services aimed at enhancing retirement readiness and financial wellness, primarily through employer-sponsored savings plans and comprehensive retirement and income guidance. In addition to its retirement services, Voya stands out as a leading provider of supplemental health insurance in the U.S., offering an extensive portfolio of stop loss, life, disability, and voluntary insurance products to businesses, thereby covering over 6.6 million individuals in workplace settings. Furthermore, Voya extends its health-related services through health savings and spending accounts via its health accounts solutions business. The acquisition of Benefitfocus has expanded Voya's capabilities in benefits administration, directly engaging with over 12 million employees in the U.S. Voya Financial, Inc., listed on the New York Stock Exchange under the ticker VOYA, positions itself as a comprehensive health, wealth, and investment company. It aims to serve its extensive client base, which includes individual, workplace, and institutional clients, with innovative products, solutions, and technologies designed to ensure they are well planned, well invested, and well protected.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (23.12.2024):
Net Income and Earnings
Voya Financial Inc. reported its third-quarter 2024 financial results with a net income available to common shareholders of $98 million, or $0.98 per diluted share. The after-tax adjusted operating earnings were $190 million, or $1.90 per diluted share. These results were supported by strong performances in Wealth Solutions and Investment Management, which helped offset higher loss ratios in Health Solutions.
Wealth Solutions Performance
In the third quarter of 2024, Voya Financial's Wealth Solutions segment achieved pre-tax adjusted operating earnings of $211 million, an increase from $179 million in the same period the previous year. This growth was primarily driven by an increase in fee-based revenues. Total client assets as of September 30, 2024, were $608 billion, marking a 19% increase compared to the previous year, largely due to higher equity market levels.
Health Solutions Challenges
Voya Financial's Health Solutions segment faced challenges in the third quarter of 2024, with pre-tax adjusted operating earnings declining to $23 million from $53 million in the prior-year period. The decrease was mainly due to higher loss ratios in Stop Loss. Despite this, annualized in-force premiums and fees grew by 16% to $3.9 billion, reflecting strong sales and favorable retention across all product lines.
Investment Management Growth
The Investment Management segment of Voya Financial reported pre-tax adjusted operating earnings of $55 million in the third quarter of 2024, up from $49 million in the previous year. This increase was attributed to higher fee-based revenues, benefiting from positive capital markets and strong business momentum. The segment also experienced net inflows of $3.8 billion, indicating organic growth of 1.3%.
Capital Management and Outlook
During the third quarter of 2024, Voya Financial generated approximately $0.2 billion of excess capital and returned a similar amount to shareholders through share repurchases and dividends. The company announced an additional $500 million authorization for share repurchases. Looking ahead, Voya Financial expects to return $0.8 billion of capital for the full year 2024 and anticipates increased excess capital generation in 2025, driven by core business growth and the acquisition of OneAmerica Financial’s retirement plan business.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
6563 M
Market cap (USD)
187,805
Daily traded volume (Shares)
67.83 / 66.65
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
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EPS (USD)
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Ratings & reviews
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