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. (NYSE: VOYA) is a premier provider of retirement, investment, and insurance solutions, serving approximately 13 million individual and institutional customers across the United States. Headquartered in New York, Voya operates with a clear mission to secure financial futures through its diverse product offerings and dedicated service.
Voya Financial operates through three main segments: Wealth Solutions, Investment Management, and Health Solutions. The Wealth Solutions segment, which generates roughly half of the company's revenue, provides tax-advantaged retirement savings plans and individual retirement accounts tailored to meet the needs of various customer groups. Investment Management offers a range of asset management services, while Health Solutions provides group life insurance plans and employee benefit products.
Recently, Voya has been recognized for its advanced digital capabilities and commitment to enhancing customer experiences. The company has partnered with Oracle to leverage Oracle Database@Azure, ensuring secure, high-performance cloud services to its clients. This move underscores Voya’s dedication to technological advancement and customer-centric service delivery.
With a workforce of approximately 6,500 employees and a strong focus on corporate responsibility, Voya is deeply committed to helping individuals and institutions achieve better retirement readiness. The company's vision, encapsulated in its tagline “America’s Retirement Company™”, emphasizes guiding Americans towards financial stability and security, one person, one family, and one institution at a time.
For more information about Voya Financial, Inc., visit voya.com.
Voya Global Advantage and Premium Opportunity Fund (IGA) and Voya Infrastructure, Industrials and Materials Fund (IDE) announced their November 2024 monthly distributions. IGA will distribute $0.085 per share, with 89.67% coming from return of capital. IDE will distribute $0.100 per share, with 90.5% derived from realized capital gains.
Both funds show positive performance metrics, with IGA reporting a 6.94% five-year average annual return and IDE showing 7.67%. The funds' current distribution rates are approximately 10% of NAV, with year-to-date total returns of 10.06% for IGA and 9.43% for IDE as of October 31, 2024.
Voya Financial announces significant enhancements to its myBenefitsHub online absence management platform, set to launch in January 2025. The refreshed portal aims to streamline the claims submission process and improve the overall user experience for both employers and employees. According to Voya's research, 93% of employees consider online benefits portals important for making benefits decisions.
Key improvements include an intuitive claims process with a progress tracker, enhanced employee education about available coverage, and a comprehensive absence dashboard for supervisors and HR personnel. The platform will provide detailed information about disability coverage and absence types, while maintaining Voya's high-touch service standards. Current clients will transition to the new experience in December 2024.
Voya Investment Management announced a webcast for two of its funds: Voya Asia Pacific High Dividend Equity Income Fund (NYSE: IAE) and Voya Emerging Markets High Dividend Equity Fund (NYSE: IHD). The event will take place on Monday, Nov. 18, 2024, from 4:00 p.m. to 4:30 p.m. ET. Portfolio Managers Justin Montminy and Susanna Jacob will discuss the funds' investment process, performance, and current market conditions. Investors can submit questions in advance by Nov. 15, and a replay will be available afterward.
Voya Financial (NYSE: VOYA) reported third-quarter 2024 results with net income of $98 million ($0.98 per diluted share) and adjusted operating earnings of $190 million ($1.90 per diluted share). Wealth Solutions and Investment Management showed strong performance, while Health Solutions experienced higher loss ratios. The company generated and returned approximately $0.2 billion of capital in Q3 2024 and expects to return $0.8 billion for the full year. The Board authorized an additional $500 million stock repurchase. Total client assets reached $608 billion, up 19% year-over-year. The acquisition of OneAmerica Financial's retirement plan business is expected to close on January 1, 2025.
Voya Financial (NYSE: VOYA) has announced two dividend declarations. The board approved a common stock dividend of $0.45 per share for Q4 2024, payable on December 26, 2024, to shareholders of record as of November 26, 2024. Additionally, a quarterly dividend of $13.3750 per share was declared on the Series B 5.35% fixed-rate reset non-cumulative preferred stock (equivalent to $0.334375 per depositary share), payable on December 16, 2024, to shareholders of record as of November 26, 2024.
Voya Financial (NYSE: VOYA) has awarded $27,000 to a group of educators from Calvert County Public Schools in Maryland as grand prize winners of the 2024 Unsung Heroes awards competition. Thomas Harten, Linda Subda, Jenna Lyons, and Jesse Howe received $25,000 plus an additional $2,000 as finalists for their program 'Schoolhouse Rocks: Saving the Chesapeake's Oysters'. The project aims to engage fifth-grade students in building oyster reef balls to support the Chesapeake Bay ecosystem. The initiative is part of Voya's broader educational support program, which has awarded over $6 million to educators since its inception.
Voya Financial (NYSE: VOYA) released survey findings showing 91% of working Americans typically select the same health plan during annual benefits open enrollment. Nearly half (49%) spend less than 20 minutes reviewing their workplace benefits, though 79% plan to spend more time reviewing options this year.
The research revealed significant naming bias in health plan selection. When branded, 74% chose Preferred Provider Organization (PPO) over High-Deductible Health Plan (HDHP) (26%). However, with unbranded names, the gap narrowed to 52% PPO and 48% HDHP. Only 3% of working Americans fully understand Health Savings Account (HSA) benefits, with awareness of retirement healthcare use (47%), tax advantages (47%), rollover options (43%), and investment capabilities (29%).
Voya Global Advantage and Premium Opportunity Fund (NYSE: IGA) and Voya Infrastructure, Industrials and Materials Fund (NYSE: IDE) announced their monthly distributions for October 2024. IGA will distribute $0.085 per share, while IDE will distribute $0.100 per share, both payable on October 15, 2024.
The funds provided estimates of the distribution sources, including net investment income, realized capital gains, and return of capital. For IGA, 28% comes from net investment income and 72% from return of capital. For IDE, 17.95% is from net investment income, 26.90% from long-term capital gains, and 55.15% from return of capital.
The press release also includes performance data, with IGA reporting a five-year average annual total return of 7.20% and IDE reporting 8.44%. Both funds have current distribution rates around 9.9% of NAV.
Voya Financial released survey findings revealing the significant impact of caregiving responsibilities on financial well-being. 49% of caregivers report a severe or major impact on their ability to prepare for retirement. Over half noted impacts on emergency preparedness (52%), mental well-being (52%), and healthcare costs (51%).
The survey highlighted disparities among racial groups, with 28% of Asian, Hispanic, and Black Americans reporting severe or major impacts on retirement savings, compared to 19% of white Americans. Caregiving also affects other financial aspects, including home purchases (40%) and mortgage payments (38%).
Employers can play a important role in supporting caregivers. 51% of employees are more likely to stay with employers offering health spending accounts and voluntary benefits. 53% of caregivers are likely to use employer-provided caregiver resources. Voya emphasizes the importance of comprehensive benefits and caregiver support in attracting and retaining talent.
Voya Financial (NYSE: VOYA) has announced the schedule for its third-quarter 2024 financial results release and discussion. The company will host a webcast and conference call on Tuesday, Nov. 5, 2024, from 10 a.m. to 11 a.m. ET. The press release detailing the financial results will be issued after market close on Monday, Nov. 4, 2024.
Investors can access the press release, investor supplement, and analyst presentation on Voya's investor relations website at investors.voya.com. The conference call webcast, including a slide presentation, will be streamed live on the same website. Participants are advised to access the webcast at least 15 minutes before the call to download any necessary software. A replay of the webcast will be available starting at approximately 1 p.m. ET on Nov. 6, 2024.
FAQ
What is the current stock price of VOYA FINANCIAL (VOYA)?
What is the market cap of VOYA FINANCIAL (VOYA)?
What does Voya Financial, Inc. specialize in?
How many customers does Voya Financial serve?
What are the primary business segments of Voya Financial?
How many employees does Voya Financial have?
What is Voya Financial’s vision?
What recent technological advancements has Voya Financial made?
Where can I find more information about Voya Financial?
What types of retirement solutions does Voya Financial offer?
What is the company’s focus in terms of corporate responsibility?
How does Voya Financial enhance customer experiences?
