RBC Capital Liked What It Saw in Voya Financial’s (VOYA) Q4

Core Insights - Voya Financial Inc. is identified as one of the 13 Deep Value Stocks to buy currently [1] - RBC Capital analyst Mark Dwelle raised the target price for Voya Financial by 2.4% to $87, maintaining an Outperform rating due to strong Q4 2025 results [2] - Key highlights from Voya's earnings include a 54% year-over-year increase in adjusted operating earnings and a 39% year-over-year increase in adjusted operating EPS [2] Financial Performance - Voya's investment assets under management grew organically by 5% year-over-year in 2025, driven by scaling private asset strategies and strong performance in the insurance asset management channel [3] - Defined contribution (retirement) assets under management saw a significant increase of 32.6%, largely attributed to the acquisition of OneAmerica in January 2025 [3] - Voya's total assets under management now exceed $1 trillion, reflecting robust growth across its segments [3] Cash Generation and Growth Potential - The volume-driven earnings growth has allowed Voya to generate substantial excess cash, contributing to a healthy balance sheet for future growth [4] - The company operates in retirement, investment, and insurance services through its various segments, indicating a diversified business model [5]