Voya Financial Inc - VOYA STOCK NEWS

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.

Voya Financial's recent survey reveals shifting workplace benefit priorities, with 72% of employed Americans preferring better health care coverage over higher salaries. This sentiment is strongest among millennials (80%). The research also found that 51% of workers believe health care costs significantly impact their ability to save for retirement.

Key findings include:

• 59% would accept lower salaries for employer contributions to health savings accounts
• 54% prioritize better access to voluntary benefits
• 75% are interested in support to maximize workplace benefits
• 50% are more likely to stay with employers offering digital tools for benefit decisions

Voya's myVoyage platform has shown positive results, with users 50% more likely to choose less expensive health plans and save in HSAs.

Voya Global Advantage and Premium Opportunity Fund (NYSE: IGA) and Voya Infrastructure, Industrials and Materials Fund (NYSE: IDE) have announced their monthly distributions for August 2024. IGA will distribute $0.085 per share, while IDE will distribute $0.100 per share, both payable on September 16, 2024.

The funds operate under a Managed Distribution Plan, aiming to provide regular cash distributions to shareholders. For IGA, 19.07% of the distribution comes from net investment income, 20.15% from net realized long-term capital gains, and 60.78% from return of capital. For IDE, 9.33% is from net investment income, and 90.07% from return of capital.

Investors should note that these distributions may not reflect the funds' actual investment performance and should not be confused with 'yield' or 'income'. The funds' five-year average annual total returns at NAV are 7.64% for IGA and 8.16% for IDE.

Voya Financial (NYSE: VOYA) has announced its acquisition of OneAmerica Financial's retirement plan business, adding over $60 billion in assets under administration (AUA) to its Wealth Solutions segment. This strategic move will increase Voya's total AUA to $580 billion and expand its retirement plan and participant count to 60,000 and 7.9 million, respectively. The deal, expected to close on Jan. 1, 2025, advances Voya's Workplace growth strategy by adding $47 billion of full-service AUA in emerging and mid-market segments.

The acquisition will provide Voya with broader capabilities, including employee stock ownership plan administration, and new distribution partnership opportunities. OneAmerica Financial's retirement plan clients will benefit from access to Voya's market-leading customer digital experience and core recordkeeping services. This transaction aligns with Voya's focus on supporting improved financial outcomes for customers across all market segments.

Voya Financial (NYSE: VOYA) has announced Michael Katz as its new chief financial officer, effective Jan. 1, 2025. Katz, a 20-year veteran of Voya and its predecessor ING U.S., will succeed Don Templin, who is retiring. Katz currently serves as executive vice president of Finance and is a member of Voya's Executive Committee. He will report to CEO Heather Lavallee.

Katz's appointment comes after a long tenure with the company, during which he played key roles in Voya's initial public offering, the sale of its annuities and life businesses, and the strategy to grow its Health, Wealth and Investment Management businesses. His responsibilities will include overseeing all aspects of finance and investor relations for Voya.

Voya Financial (NYSE: VOYA) has achieved a significant milestone, surpassing $100 billion in assets across various multiple employer solutions. This represents a 15% increase from the previous year, highlighting Voya's strong position in the evolving market for Multiple Employer Plans (MEPs), Pooled Employer Plans (PEPs), and Employer Aggregation Programs.

To support this growth, Voya has created new positions focused on driving engagement with advisors and plan sponsors. The company's Wealth Solutions business has seen notable expansion, with 34% of total employer-sponsored Defined Contribution plans now participating in multiple employer plan solutions. Voya also serves as the recordkeeper for the first 403(b) Pooled Employer Plan following the SECURE Act 2.0 legislation, catering to nonprofit organizations and healthcare entities.

Voya Financial, Inc. (NYSE: VOYA) has launched the Voya Capital Preservation Fund, a new Stable Value solution for defined contribution plan participants. This bank Collective Investment Trust (CIT) aims to protect principal investment while offering competitive yield, low return volatility, and daily liquidity. The Fund is currently invested in a group annuity contract issued by Voya Retirement Insurance and Annuity Company (VRIAC), managed by Voya Investment Management.

Stable Value investments have gained popularity due to their ability to protect against financial losses in rising interest rate environments. Total Stable Value investments reached approximately $882 billion in 2023. Voya remains a leader in these solutions with about $40 billion in total Stable Value assets under management and administration.

Voya Financial (NYSE: VOYA) reported second-quarter 2024 results with net income of $201 million ($1.96 per diluted share) and after-tax adjusted operating earnings of $223 million ($2.18 per diluted share). The company demonstrated strong fee-based revenue growth, offsetting lower underwriting gains. Voya generated and returned approximately $0.2 billion of capital, including $174 million in share repurchases and $40 million in dividends. The board authorized a 12.5% dividend increase to $0.45 per share starting Q3 2024. Wealth Solutions saw increased pre-tax adjusted operating earnings, while Health Solutions experienced a decline. Investment Management maintained stable earnings. The company's focus on strategic priorities and capital management continues to drive growth and shareholder value.