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VOYA

Voya Financial

$46.04

1.455 (3.26%)

13:15
11/13/18
11/13
13:15
11/13/18
13:15

Voya Financial lays out plans for at least 10% annual earnings growth

Voya Financial announced its plans to achieve an adjusted operating earnings per share annual growth rate of at least 10% on a normalized basis through 2021. The company expects to achieve its plan through a combination of organic business growth, cost savings and share repurchases. Voya expects its core businesses - Retirement, Investment Management and Employee Benefits - to "drive high quality and sustainable earnings; expected total free cash flow conversion of 85% to 95%." The company is also targeting an additional $100M of run-rate savings, incremental to expense savings previously announced, expected by the end of 2020. Further, with continued share repurchases planned, Voya's common stock dividend expected to increase to achieve at least a 1% dividend yield by mid-2019. The company says adjusted operating earnings per share growth will be achieved "while maintaining strong returns and generating an enterprise operating return on equity of 13% to 15%." CEO Rodney Martin adds, "With our competitive advantages and renewed focus on our chosen businesses, Voya Financial is poised to achieve significant earnings per share growth of at least 10% annually over the next three years. Importantly, we believe that we can generate this level of adjusted operating EPS improvement while also achieving an operating return on equity of between 13% and 15%. The foundation of our plans starts with our higher-growth, higher-return, capital-light Retirement, Investment Management and Employee Benefits businesses. With our established positions in the workplace and with institutions, we will continue to expand our offerings to existing clients, while also attracting new customers. In addition to executing on growth plans that are specific to each business, we will continue to leverage opportunities to deliver holistic, comprehensive solutions across our businesses. With our significant reach and strong brand awareness, we are well positioned to help our customers achieve their goals with confidence."

  • 13

    Nov

VOYA Voya Financial
$46.04

1.455 (3.26%)

06/20/18
GSCO
06/20/18
INITIATION
Target $60
GSCO
Neutral
Voya Financial reinstated with a Neutral at Goldman Sachs
Goldman Sachs analyst Alex Scott reinstated coverage of Voya Financial with a Neutral rating and $60 price target. The analyst expects margin expansion over the next 12 months but believes this is largely reflected in consensus estimates and the stock's current valuation. A shifting focus towards growth provides less upside for earnings revisions, the analyst contends.
06/20/18
06/20/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tableau (DATA) initiated with a Neutral at Susquehanna. 2. Voya Financial (VOYA) reinstated with a Neutral at Goldman Sachs. 3. RBC Bearings (ROLL) initiated with a Hold at SunTrust. 4. Castlight Health (CSLT) initiated with an Outperform at William Blair. 5. CommScope (COMM) initiated with a Neutral at Rosenblatt. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/11/18
SBSH
07/11/18
NO CHANGE
SBSH
Neutral
Citi questions if Athene Holding shares can ever outperform
Citi analyst Suneet Kamath keeps a Neutral rating on Athene Holding in a research note titled "If ATH Can't Outperform in the Current Environment, Can it Ever?" The stock should be outperforming in the current environment given its "continued capital optionality," upside potential from the Voya Financial (VOYA) deal and a "benign" credit environment, Kamath tells investors in a research note. The analyst adds: "The fact that it is not raises the question: can it ever?" Kamath estimates Athene's tax rate advantage has gone from 20-21 points to 5-6 points. He also believes the company's offshore strategy might soon be replicated "by yet another company," creating more competition in the market and among investors. Kamath sees more attractive opportunities elsewhere in the Insurance space.
11/01/18
RBCM
11/01/18
NO CHANGE
Target $55
RBCM
Outperform
Voya Financial price target lowered to $55 from $60 at RBC Capital
RBC Capital analyst Mark Dwelle lowered his price target on Voya Financial to $55 to reflect the "actuarial adjustment" in Q3 and the assumption of 1-times estimated 2019 book value vs. 1.1-times prior amid declining multiples across the sector. The analyst also keeps his Outperform rating on the shares and sees the recent pullback as an "excellent opportunity" to participate in Voya Financal's "positively changing business model". Dwelle adds that he looks ahead to the company's strategic updates at its upcoming investor day.

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LYFT

Lyft

$0.00

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