Key Takeaways Voya's AllianzGI deal expanded asset management reach across diverse classes and markets.Core segments show high growth potential with capital-light business models.Higher policyholder benefits and operating costs pushed total expenses up 2.1% in Q2.Shares of  Voya Financial, Inc. (VOYA) are trading at a discount compared to the Zacks Life Insurance industry. Its price-to-book value of 1.11X is lower than the industry average of 1.63X, the Finance sector’s 4.23X and the Zacks S&P 500 Composite ...

Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 —————————————————————— FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35897 Voya Financial, Inc. | (Exact name of registrant as specified in its charter) | | | | | --- | --- | --- | --- ...

Core Insights - Voya Financial, Inc. (VOYA) reported second-quarter 2025 adjusted operating earnings of $2.4 per share, exceeding the Zacks Consensus Estimate by 14.8% and reflecting a year-over-year increase of 5.7% [1][9] - The results were driven by contributions from OneAmerica, favorable capital markets, and net inflows, although higher expenses in Employee Benefits due to strategic investments partially offset these gains [1] Financial Performance - Adjusted operating revenues reached $356 million, marking a 9.8% increase year over year and surpassing estimates by 19.4% [2][9] - Net investment income rose by 12.7% year over year to $584 million, while fee income increased by 11.7% to $577 million [2] - Premiums totaled $718 million, down 9.1% from the previous year, with total benefits and expenses amounting to $1.8 billion, up 2.1% year over year [2] Client Assets and Growth - As of June 30, 2025, total client assets were $757 billion, reflecting a significant 30% year-over-year increase, primarily due to assets from OneAmerica and positive capital market conditions [3][4][9] Segment Performance - The Retirement segment reported pre-tax adjusted operating earnings of $235 million, a 9.8% increase year over year, largely attributed to the OneAmerica acquisition [4] - Employee Benefits segment saw pre-tax adjusted operating earnings of $69 million, up 15% year over year, driven by positive claim developments, although offset by lower voluntary underwriting gains [5] - Investment Management posted pre-tax adjusted operating earnings of $51 million, a 2% increase year over year, with net inflows of $1.8 billion, indicating organic growth of 2.5% for the quarter [6] Financial Position - Voya Financial ended the quarter with cash and cash equivalents of $1.2 billion, a 10.6% increase year over year, and total investments of $37.5 billion, up 6.7% [8] - Long-term debt decreased to $1.6 billion, down 21.2% from the end of 2024, with an improved financial leverage ratio of 27.4% [10] - Book value per share (excluding AOCI) was $63.18, reflecting a 4% year-over-year increase [10] Capital Deployment - The company returned $44 million to shareholders through common stock dividends [11]

Voya Financial (VOYA) Q2 2025 Earnings Call August 06, 2025 10:00 AM ET Company ParticipantsMei Ni Chu - SVP & Head - IRHeather Lavallee - CEO & DirectorMichael Katz - EVP & CFOElyse Greenspan - Managing DirectorJay Kaduson - CEO - Workplace SolutionsMatt Toms - CEO - Voya Investment ManagementThomas Gallagher - Senior Managing DirectorRyan Krueger - Managing DirectorWilma Burdis - DirectorJosh Shanker - Managing DirectorConference Call ParticipantsJohn Barnidge - MD & Senior Research AnalystSuneet Kamath - ...

Financial Data and Key Metrics Changes - The company generated adjusted operating earnings per share of $2.46 in the second quarter, a 13% increase over the prior year [11] - Net income was impacted by investment losses and severance expenses, with $18 million incurred in severance expenses during the quarter [12] - The company added approximately $200 million of excess capital in the quarter, generating approximately $400 million year to date [12][21] Business Line Data and Key Metrics Changes - In the Retirement segment, adjusted operating earnings were $235 million for the quarter, representing a 1019% increase over the prior year [13][14] - Investment Management generated approximately $51 million in adjusted operating earnings for the quarter, a 2% increase year over year [15] - Employee Benefits adjusted operating earnings were $69 million in the quarter, up 15% over the prior year [18] Market Data and Key Metrics Changes - The Retirement and Investment Management businesses surpassed $1 trillion in total assets, with nearly 10 million participant accounts in retirement [6] - The company achieved approximately $12 billion in total defined contribution net flows in the second quarter, bringing year-to-date net flows to over $40 billion [14] - Investment Management generated approximately $2 billion in net flows in the second quarter, contributing to year-to-date net flows of nearly $10 billion [16] Company Strategy and Development Direction - The company is focused on driving strong organic growth in retirement and investment management, successfully integrating OneAmerica, and improving margins in employee benefits [23] - A partnership with Blue Owl Capital aims to expand private market access and enhance retirement offerings [8][42] - The company plans to resume share repurchases targeting $200 million in 2025, while also investing in wealth management and automation [21][36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth opportunities ahead, despite challenges in the healthcare industry impacting the Stop Loss business [11][30] - The company is prioritizing margin improvement over growth in the Stop Loss segment, with a cautious approach to pricing and risk selection [30][60] - Management highlighted a healthy pipeline and strong retention rates in the retirement business, indicating a solid outlook for the remainder of the year [90] Other Important Information - The company returned over $40 million of capital to shareholders via common stock dividends [21] - The integration of OneAmerica is on track, with a target of $75 million in operating earnings for the year [9] - The company is embedding industry data and medical trends into pricing for employee benefits to enhance competitive positioning [19] Q&A Session Summary Question: Insights on Stop Loss business and future expectations - Management noted a reduction in the reserve levels for the January 2024 business based on claims experience, with a cautious approach for the January 2025 cohort due to early development [27][28] Question: Capital return and impact of OneAmerica - Management reaffirmed plans for $200 million in share repurchases in the second half of the year, while addressing the capital needs related to OneAmerica [33][34] Question: Blue Owl partnership and product development - The partnership is expected to expand access to private investments and enhance product offerings, particularly within target date funds [42][44] Question: Voluntary benefits business and loss ratio expectations - The loss ratio improved to 47% in the quarter, with expectations around 50% for the back half of the year [63] Question: Medical stop loss and pricing strategy - Management emphasized a disciplined approach to pricing and risk selection, with expectations of higher medical inflation in 2026 [56][60]

Voya Financial Second Quarter 2025 Call August 6, 2025 Information contained herein is proprietary, confidential and non-public and is not for public release. Forward-Looking and Other Cautionary Statements This presentation and the remarks made orally contain forward-looking statements. The company does not assume any obligation to revise or update these statements to reflect new information, subsequent events or changes in strategy. Forward-looking statements include statements relating to future developm ...

Core Insights - Voya Financial has partnered with Blue Owl to create innovative private market investment solutions for defined contribution retirement plans, enhancing investment options for participants [1][9] - The partnership will focus on designing collective investment trusts (CITs) that incorporate private market strategies from both firms, available through Voya's retirement platform [2][9] - This collaboration aims to deliver consistent income, manage downside risk, and expand access to alternative investments for retirement savers [3][4] Company Benefits - Voya is expected to open new revenue streams through private market investment products, potentially increasing its assets under management (AUM) by attracting new retirement plans and institutional clients [4][9] - The partnership allows Voya to broaden its distribution footprint and reach new client segments, particularly in retirement and insurance asset management [4][5] Future Collaboration - Voya and Blue Owl plan to extend their collaboration beyond retirement solutions into the insurance asset management space, leveraging each other's expertise in direct lending and fixed income strategies [5][9] Market Performance - Voya's shares have gained 6.6% year-to-date, outperforming the industry average [6]

Core Viewpoint - Voya Financial (VOYA) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - Institutional investors often rely on earnings estimates to determine the fair value of stocks, leading to buying or selling actions that affect stock prices [4]. Voya's Earnings Outlook - For the fiscal year ending December 2025, Voya is expected to earn $8.35 per share, with a 0.4% increase in the Zacks Consensus Estimate over the past three months [8]. - The upgrade to Zacks Rank 2 reflects an improvement in Voya's underlying business, which is likely to drive the stock price higher [5][10]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [7]. - Only the top 20% of Zacks-covered stocks receive a "Strong Buy" or "Buy" rating, indicating superior earnings estimate revisions [9][10].

Company Overview - Voya Financial (VOYA) is based in New York and operates in the Finance sector, with a year-to-date share price change of -1.21% [3] - The company currently pays a dividend of $0.45 per share, resulting in a dividend yield of 2.71%, which is higher than the Insurance - Life Insurance industry's yield of 1.81% and the S&P 500's yield of 1.58% [3] Dividend Performance - Voya Financial's annualized dividend of $1.80 has increased by 5.9% from the previous year [4] - Over the past five years, the company has raised its dividend four times, achieving an average annual increase of 33.16% [4] - The current payout ratio is 22%, indicating that Voya paid out 22% of its trailing 12-month earnings per share as dividends [4] Earnings Growth Expectations - For the fiscal year, Voya Financial anticipates solid earnings growth, with the Zacks Consensus Estimate for 2025 projected at $8.36 per share, reflecting a year-over-year growth rate of 35.49% [5] Investment Appeal - Voya Financial is considered a compelling investment opportunity due to its attractive dividend and strong Zacks Rank of 2 (Buy) [7]