Voya Financial price target raised to $85 from $84 at Barclays
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 08 2024
0mins
Should l Buy VOYA?
Barclays Price Target Update: Barclays has increased its price target for Voya Financial to $85 from $84 while maintaining an Overweight rating, indicating a positive outlook for the North America insurance group ahead of Q3 earnings.
Insurance Market Insights: The analyst notes that life insurance is facing mixed influences from equity market gains and declining interest rates, while property and casualty insurers are expected to maintain strong margins despite concerns over pricing deceleration.
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Analyst Views on VOYA
Wall Street analysts forecast VOYA stock price to rise
8 Analyst Rating
6 Buy
1 Hold
1 Sell
Moderate Buy
Current: 74.450
Low
84.00
Averages
88.00
High
93.00
Current: 74.450
Low
84.00
Averages
88.00
High
93.00
About VOYA
Voya Financial, Inc. is a provider of workplace benefits and savings solutions and technologies. The Retirement segment provides retirement plan solutions and administration technology and services to employers. Its products and services include full-service and recordkeeping-only defined contribution plan administration; stable value and fixed general account investment products; and services to promote the financial well-being and retirement security of employees. The Employee Benefits segment provides workplace employee benefits including group life insurance, disability insurance, leave management services, supplemental benefit insurance, financial wellness, and decision support products and services to mid-size and large corporate employers and professional associations. The Investment Management segment provides investment products and retirement solutions across a broad range of geographies, market sectors, investment styles and capitalization spectrums.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Voya Financial Partners with TELUS Health to Enhance Employee Assistance Program
- Collaboration Launch: Voya Financial has partnered with TELUS Health to integrate Employee Assistance Program (EAP) services with Group Annual Term Life Insurance, aiming to enhance emotional well-being and workplace productivity, reflecting the company's ongoing commitment to employee benefits.
- Diverse Service Offerings: TELUS Health's EAP combines digital tools with access to qualified professionals, providing personalized mental health support, including work-life and family support, financial guidance, and identity theft consultation, designed to offer flexible pathways to care and promote timely intervention.
- Employee Engagement Boost: Voya's VP, Maleiha Russell, emphasized that mental health plays a critical role in employee engagement and productivity, and this collaboration will help employers support their workforce in meaningful ways, enhancing overall employee performance.
- Market Demand Response: As employers and insurers recognize the importance of mental health in daily life and work performance, this partnership not only expands Voya's employee benefits product line but also provides clients with more personalized support, addressing the growing market demand for mental health services.
See More
Voya Financial Supports DOL's New Proposal on Investment Choices
- Proposal Endorsement: Voya Financial welcomes the U.S. Department of Labor's proposed rule on Fiduciary Duties in Selecting Designated Investment Alternatives, viewing it as a crucial step towards expanding retirement investment choices while emphasizing a robust evaluation process for investments.
- Strengthening Fiduciary Responsibility: Amy Vaillancourt, president of Retirement at Voya, states that expanding investment choices requires strong fiduciary governance and participant education, ensuring the involvement of financial professionals to promote appropriate use of these solutions.
- Demand for Market Diversification: As plan sponsors and participants increasingly seek investments beyond traditional public markets, clear regulatory standards are essential for responsibly incorporating these options, with the proposal outlining a transparent evaluation framework.
- Resource Support: As a retirement recordkeeper and investment partner, Voya proudly supports plan sponsors and financial professionals by providing the necessary resources and operational tools to enhance their confidence and effectively fulfill their responsibilities.
See More
Voya Financial Introduces Simplified Employee Benefits Management
- In-House Management Model: Voya Financial announced that starting January 1, 2026, it will bring all Leave, Paid Family and Medical Leave (PFML), and Short-Term Disability (STD) claims administration in-house, aiming to provide a more comprehensive claims process that enhances employee support during significant life events.
- Technological Integration Benefits: The new model simplifies complex leave requirements and administration, already implemented for new employer groups, which is expected to improve employee engagement with benefits, especially during stressful and uncertain times, helping them navigate major life changes more effectively.
- Focus on Employee Mental Health: Voya's research indicates that 79% of millennials report financial stress impacting their mental health, and this new model not only provides more consistent support but also aims to help employees cope with life's challenges in a more human-centered manner, enhancing the overall benefits experience.
- Future Development Direction: Voya is committed to further enhancing the integration of employee benefits through technology, automation, and agile working methods, ensuring employers gain greater visibility and confidence in supporting their workforce during leave periods, thereby improving overall employee well-being.
See More
U.S.-Iran Tensions Ease, Stock Market Rallies
- Market Rally: President Trump announced ongoing talks with Iran and postponed strikes on Iranian energy sites, leading to significant gains in the S&P 500 and Dow, creating a 'risk-on' environment favorable for financial firms and enhancing market performance in the asset management sector.
- Asset Management Benefits: The stock market rebound has increased the value of assets under management (AUM) for asset management companies, a key performance metric, particularly as investment banks and brokerages like Lazard and BGC saw their shares rise by 2.8% and 3%, respectively, boosting market optimism about their prospects.
- Energy Price Decline: The easing of geopolitical tensions has caused Brent crude oil prices to fall by over 7%, which not only reduces energy costs but may also stimulate economic activity, further driving growth in financial markets.
- BGC Stock Performance: BGC's shares have risen 8.3% year-to-date, although they remain 10.7% below their 52-week high of $10.85; however, the market's increased confidence in its future performance reflects investor optimism about potential economic recovery.
See More
Voya Financial Stock Declines 12.1% Amid Weak Earnings
- Poor Stock Performance: Voya Financial's stock price has fallen to $66.29 over the past six months, resulting in a 12.1% loss for shareholders, which is disappointing compared to the flat performance of the S&P 500, indicating investor concerns about the company's future prospects.
- Lackluster Revenue Growth: The company's annualized revenue growth of only 6.7% over the last five years falls short of the financial sector benchmark, reflecting a lack of long-term performance that may undermine investor confidence.
- Weak EPS Growth: Voya Financial's EPS growth of just 5.4% over the past two years aligns with its revenue trend, and while incremental sales have been profitable, the overall performance does not meet expected standards.
- Improved Tangible Book Value: Although Voya Financial's tangible book value per share declined at a 15.6% annual rate over the last five years, it has shown a positive inflection with a 17.8% annual growth in the past two years, increasing from $25.16 to $34.90, indicating an improvement in its asset base.
See More
Templum Launches 'Invest Now' Feature for Enhanced Digital Investment Experience
- Enhanced Digital Experience: The 'Invest Now' feature launched by Templum allows eligible investors to seamlessly complete the investment process through a secure white-labeled portal, significantly improving accessibility and user experience for the Pomona Investment Fund.
- Strong Investment Returns: Since its inception in 2015, the Pomona Investment Fund has achieved an annualized net return of 13.3%, demonstrating its success in providing high-quality private equity investments to individual investors.
- Streamlined Investment Process: The new system integrates onboarding, document signing, and order execution into a single digital workflow, significantly enhancing investment efficiency and lowering barriers to entry, thus meeting the growing demand for private equity investments.
- Industry Transformation Opportunity: This collaboration represents a significant advancement in the digitization and democratization of private markets, enabling Pomona and Voya IM to better serve eligible investors seeking diversified investment opportunities.
See More
Voya Financial Partners with TELUS Health to Enhance Employee Assistance Program
- Collaboration Launch: Voya Financial has partnered with TELUS Health to integrate Employee Assistance Program (EAP) services with Group Annual Term Life Insurance, aiming to enhance emotional well-being and workplace productivity, reflecting the company's ongoing commitment to employee benefits.
- Diverse Service Offerings: TELUS Health's EAP combines digital tools with access to qualified professionals, providing personalized mental health support, including work-life and family support, financial guidance, and identity theft consultation, designed to offer flexible pathways to care and promote timely intervention.
- Employee Engagement Boost: Voya's VP, Maleiha Russell, emphasized that mental health plays a critical role in employee engagement and productivity, and this collaboration will help employers support their workforce in meaningful ways, enhancing overall employee performance.
- Market Demand Response: As employers and insurers recognize the importance of mental health in daily life and work performance, this partnership not only expands Voya's employee benefits product line but also provides clients with more personalized support, addressing the growing market demand for mental health services.
See More
Voya Financial Supports DOL's New Proposal on Investment Choices
- Proposal Endorsement: Voya Financial welcomes the U.S. Department of Labor's proposed rule on Fiduciary Duties in Selecting Designated Investment Alternatives, viewing it as a crucial step towards expanding retirement investment choices while emphasizing a robust evaluation process for investments.
- Strengthening Fiduciary Responsibility: Amy Vaillancourt, president of Retirement at Voya, states that expanding investment choices requires strong fiduciary governance and participant education, ensuring the involvement of financial professionals to promote appropriate use of these solutions.
- Demand for Market Diversification: As plan sponsors and participants increasingly seek investments beyond traditional public markets, clear regulatory standards are essential for responsibly incorporating these options, with the proposal outlining a transparent evaluation framework.
- Resource Support: As a retirement recordkeeper and investment partner, Voya proudly supports plan sponsors and financial professionals by providing the necessary resources and operational tools to enhance their confidence and effectively fulfill their responsibilities.
See More
Voya Financial Introduces Simplified Employee Benefits Management
- In-House Management Model: Voya Financial announced that starting January 1, 2026, it will bring all Leave, Paid Family and Medical Leave (PFML), and Short-Term Disability (STD) claims administration in-house, aiming to provide a more comprehensive claims process that enhances employee support during significant life events.
- Technological Integration Benefits: The new model simplifies complex leave requirements and administration, already implemented for new employer groups, which is expected to improve employee engagement with benefits, especially during stressful and uncertain times, helping them navigate major life changes more effectively.
- Focus on Employee Mental Health: Voya's research indicates that 79% of millennials report financial stress impacting their mental health, and this new model not only provides more consistent support but also aims to help employees cope with life's challenges in a more human-centered manner, enhancing the overall benefits experience.
- Future Development Direction: Voya is committed to further enhancing the integration of employee benefits through technology, automation, and agile working methods, ensuring employers gain greater visibility and confidence in supporting their workforce during leave periods, thereby improving overall employee well-being.
See More
U.S.-Iran Tensions Ease, Stock Market Rallies
- Market Rally: President Trump announced ongoing talks with Iran and postponed strikes on Iranian energy sites, leading to significant gains in the S&P 500 and Dow, creating a 'risk-on' environment favorable for financial firms and enhancing market performance in the asset management sector.
- Asset Management Benefits: The stock market rebound has increased the value of assets under management (AUM) for asset management companies, a key performance metric, particularly as investment banks and brokerages like Lazard and BGC saw their shares rise by 2.8% and 3%, respectively, boosting market optimism about their prospects.
- Energy Price Decline: The easing of geopolitical tensions has caused Brent crude oil prices to fall by over 7%, which not only reduces energy costs but may also stimulate economic activity, further driving growth in financial markets.
- BGC Stock Performance: BGC's shares have risen 8.3% year-to-date, although they remain 10.7% below their 52-week high of $10.85; however, the market's increased confidence in its future performance reflects investor optimism about potential economic recovery.
See More
Voya Financial Stock Declines 12.1% Amid Weak Earnings
- Poor Stock Performance: Voya Financial's stock price has fallen to $66.29 over the past six months, resulting in a 12.1% loss for shareholders, which is disappointing compared to the flat performance of the S&P 500, indicating investor concerns about the company's future prospects.
- Lackluster Revenue Growth: The company's annualized revenue growth of only 6.7% over the last five years falls short of the financial sector benchmark, reflecting a lack of long-term performance that may undermine investor confidence.
- Weak EPS Growth: Voya Financial's EPS growth of just 5.4% over the past two years aligns with its revenue trend, and while incremental sales have been profitable, the overall performance does not meet expected standards.
- Improved Tangible Book Value: Although Voya Financial's tangible book value per share declined at a 15.6% annual rate over the last five years, it has shown a positive inflection with a 17.8% annual growth in the past two years, increasing from $25.16 to $34.90, indicating an improvement in its asset base.
See More
Templum Launches 'Invest Now' Feature for Enhanced Digital Investment Experience
- Enhanced Digital Experience: The 'Invest Now' feature launched by Templum allows eligible investors to seamlessly complete the investment process through a secure white-labeled portal, significantly improving accessibility and user experience for the Pomona Investment Fund.
- Strong Investment Returns: Since its inception in 2015, the Pomona Investment Fund has achieved an annualized net return of 13.3%, demonstrating its success in providing high-quality private equity investments to individual investors.
- Streamlined Investment Process: The new system integrates onboarding, document signing, and order execution into a single digital workflow, significantly enhancing investment efficiency and lowering barriers to entry, thus meeting the growing demand for private equity investments.
- Industry Transformation Opportunity: This collaboration represents a significant advancement in the digitization and democratization of private markets, enabling Pomona and Voya IM to better serve eligible investors seeking diversified investment opportunities.
See More
