Voya Financial Inc Stock Price, News & Analysis

Voya Financial (NYSE: VOYA) has scheduled a webcast and conference call to discuss its Q2 2024 financial results on Wednesday, July 31, 2024, from 10 a.m. to 11 a.m. ET. The company will release its financial results after the market closes on Tuesday, July 30, 2024. These documents, including an investor supplement and analyst presentation, will be available on Voya's investor relations website. The webcast, which will feature a slide presentation, will be live-streamed on the same site. A replay will be accessible starting at approximately 1 p.m. ET on August 1, 2024.

Benefitfocus has released its 2024 State of Employee Benefits Report, revealing key trends in workplace benefits and savings programs. The report emphasizes the importance of a holistic benefits package to manage rising health care costs and support a diverse workforce. It highlights that 84% of employers offer both traditional and high-deductible health plans (HDHPs), with HDHPs being most popular among Generation Z (45% participation). The study also notes the need for employers to provide personalized benefits to cater to different generational needs, with increasing HDHP adoption among millennials and Gen X. Furthermore, the report stresses the significance of educating employees about health savings accounts (HSAs) and the value of voluntary benefits like critical illness insurance and identity theft protection.

Voya Global Advantage and Premium Opportunity Fund (NYSE: IGA) and Voya Infrastructure, Industrials and Materials Fund (NYSE: IDE) announced their monthly cash distributions for June 2024. IGA will distribute $0.085 per common share, while IDE will distribute $0.100 per common share. The distributions are part of the Funds' Managed Distribution Plan and may include net investment income, realized gains, or return of capital. Shareholders will receive Form 1099-DIV for tax reporting. Past performance is not indicative of future results, and investment risks remain.

Voya Financial (NYSE: VOYA) has announced a new collaboration with SecureSave to offer an emergency savings program for its Workplace Solutions clients. This initiative aims to address the short-term financial needs of employees, as Voya's data shows nearly half of Americans rely on retirement savings as their primary emergency fund. The program allows after-tax savings through elective paycheck deferrals and offers easy deployment and management with integration to payroll systems. SecureSave data reveals a 62% adoption rate and an 87% retention rate of emergency funds. This collaboration is part of Voya's broader efforts to enhance the financial wellness of its clients.

Voya Investment Management (Voya IM) announces the appointment of Tiffani Potesta as the new head of Distribution, effective July 8, 2024. Potesta will based in New York, overseeing all distribution aspects for Voya IM's institutional and intermediary business. She will report to CEO Matt Toms. Potesta brings over 20 years of leadership experience in asset management, having held positions at Schroder Investment Management North America, Deutsche Bank, First Eagle Funds, and Allianz Global Investors. Voya IM expects her expertise to bolster their distribution strategies, product positioning, and client services globally.

Voya Financial has launched 'Primary Plus', a new lineup of non-core investment options within its Advisor Managed Account (AMA) program. This initiative allows RIAs to offer investment choices outside of a plan's core lineup, enhancing participants' retirement portfolios. Voya's managed account solutions saw a 27% increase in total assets in Q1 2024, reflecting growing interest in personalized financial guidance. The AMA program now supports over 400 plans, offering a comprehensive, scalable advisory solution to RIAs. This launch follows other recent initiatives, such as Voya Pathway QDIA™, aimed at improving retirement outcomes.

Students from Maryland, Minnesota, New Jersey, and Georgia earned top honors in the Council for Economic Education's (CEE) National Personal Finance Challenge (NPFC) held in Cleveland, showcasing their financial literacy and critical thinking skills.

Nearly 15,000 students participated, mastering key personal finance concepts like earning, spending, saving, investing, and managing risk. Finalists were tested on their ability to create family financial plans and participated in a 'quiz bowl' lightning round.

Severn School from Maryland took first place, followed by teams from Mounds View High School (MN), Middlesex County Academy (NJ), and Dunwoody High School (GA). The event highlights the importance of financial education, with 35 states now requiring personal finance courses.

Voya Financial and the Voya Foundation supported the competition, emphasizing the broad benefits of financial literacy across all career paths.

Voya Global Advantage and Premium Opportunity Fund (NYSE: IGA) and Voya Infrastructure, Industrials and Materials Fund (NYSE: IDE) have announced their April 2024 monthly distributions. Shareholders will receive $0.197 per share for IGA and $0.229 per share for IDE on April 15, 2024. Notably, these distributions might include returns of capital, which do not reflect the funds' investment performance. For IGA, 85.88% of the current distribution is estimated as return of capital, while for IDE, 79% of the current distribution is from long-term gains. Both funds have an annualized distribution rate of around 7.5% as a percentage of NAV, with five-year average annual returns of approximately 5.3%. Shareholders will receive Form 1099-DIV for tax reporting.

Voya Financial, Inc. (NYSE: VOYA) reported strong first-quarter 2024 financial results, with net income available to common shareholders of $234 million, or $2.24 per diluted share, and after-tax adjusted operating earnings of $185 million, or $1.77 per diluted share. The company generated and returned $0.2 billion of capital in the first quarter, including $172 million in share repurchases and $41 million in common stock dividends. The board of directors authorized repurchase of an additional $500 million of common stock. Adjusted operating EPS grew 23% compared to the prior-year period, reflecting growth in diversified revenues and disciplined expense management. Voya continues to focus on customer service, maintaining market leadership positions, and delivering value to shareholders.