Voya Financial (NYSE:VOYA) Stock, Quote.Headers.trade-ideas

Voya Financial

Voya Financial Inc is a financial services company, which, through its subsidiaries, provides various investment, insurance, and retirement solutions to individual and institutional clients in the United States. Its products and services include tax savings plans, individual retirement accounts, group life insurance plans, and employee benefits products, among others. The company tailors each of its products to the needs of its customer base. It operates its business through three principal lines: Wealth Solutions, Investment Management, and Health Solutions The Wealth segment generates roughly half of the company's revenue.

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VOYA

Sun Life Financial Inc. (NYSE: SLF) delivered second-quarter 2024 underlying net income of $1.25 per share, which beat the Zacks Consensus Estimate by 5.9%. The bottom line increased 6.8% year over year. Underlying net income was $730.8 million (C$1 billion), which increased 9% year over year.

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Etsy photo by Sergei Elagin on Shutterstock

Downgrades

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Voya Financial Inc

Voya Financial, Inc. Depositary Shares, each representing a 1/40th interest in a share of 5.35% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B

Voya Asia Pacific High Dividend Equity Income Fund ING Asia Pacific High Dividend Equity Income Fund Common Shares of Beneficial Interest

Voya Asia Pacific High Dividend Equity Income Fund

Voya Emerging Markets High Income Dividend Equity Fund Common Shares

Voya Emerging Markets High Dividend Equity Fund

Voya Global Advantage and Premium Opportunity Fund Common Shares of Beneficial Interest

Voya Global Advantage and Premium Opportunity Fund

Voya Global Equity Dividend and Premium Opportunity Fund

Voya Infrastructure, Industrials and Materials Fund Common Shares of Beneficial Interest

Voya Infrastructure, Industrials and Materials Fund

Voyager Acquisition Corp

VOYAGER DIGITAL LTD by Voyager Digital Ltd.

Voyager Digital Ltd

Voyager Metals Inc

Voyager Therapeutics, Inc. - Common Stock

Voyager Therapeutics Inc

Voyager Token

VOYAGEUR MINERAL EXPLORER by VOYAGEUR MINERAL EXPLORERS CORP.

Voyageur Mineral Explorers Corp

VOYAGEUR PHARMS LTD by Voyageur Pharmaceuticals Ltd.

Voyageur Pharmaceuticals Ltd

VOYANT INTL CORP by Voyant International Corp.

Voyant International Corp

<p>Raymond James  analyst Wilma Burdis   downgrades Voya Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOYA#NYSE">VOYA</a>) from Strong Buy to Market Perform.</p>


Raymond James Downgrades Voya Financial to Market Perform

Voya Financial To Pay OneAmerica Financial Partners $50M On Its Full-service Retirement Recordkeeping Business Deal Close Plus Contingent Consideration Up To $160M On Retained Revenues Of Business

<p>Providing a diverse range of perspectives from bullish to bearish, 13 analysts have published ratings on Voya Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOYA#NYSE">VOYA</a>) in the last three months.</p>
<p>The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>Analysts have recently evaluated Voya Financial and provided 12-month price targets. The average target is $82.54, accompanied by a high estimate of $91.00 and a low estimate of $75.00. This current average has increased by 1.07% from the previous average price target of $81.67. </p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1726070410_0.png" alt="price target chart" /></p>
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
<p>The standing of Voya Financial among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Thomas Gallagher</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$82.00</td>
<td>$79.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Barclays</td>
<td>Announces</td>
<td>Overweight</td>
<td>$84.00</td>
<td>-</td>
</tr>
<tr>
<td>Nigel Dally</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$75.00</td>
<td>$76.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$87.00</td>
<td>$91.00</td>
</tr>
<tr>
<td>Kenneth Lee</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$83.00</td>
<td>$83.00</td>
</tr>
<tr>
<td>Nigel Dally</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$76.00</td>
<td>$79.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$87.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Michael Ward</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$91.00</td>
<td>$86.00</td>
</tr>
<tr>
<td>Suneet Kamath</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Hold</td>
<td>$80.00</td>
<td>$78.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$83.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Suneet Kamath</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Hold</td>
<td>$78.00</td>
<td>$79.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$88.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Suneet Kamath</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Hold</td>
<td>$79.00</td>
<td>$76.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Voya Financial. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li><strong>Rating:</strong> Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Voya Financial compared to the broader market.</li>
<li><strong>Price Targets:</strong> Analysts gauge the dynamics of price targets, providing estimates for the future value of Voya Financial's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
<p>Capture valuable insights into Voya Financial's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/VOYA/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on Voya Financial analyst ratings.</strong></a></p>
<h2>Delving into Voya Financial's Background</h2>
<p>Voya Financial Inc is a financial services company, which, through its subsidiaries, provides various investment, insurance, and retirement solutions to individual and institutional clients in the United States. Its products and services include tax savings plans, individual retirement accounts, group life insurance plans, and employee benefits products, among others. The company tailors each of its products to the needs of its customer base. It operates its business through three principal lines: Wealth Solutions, Investment Management, and Health Solutions The Wealth segment generates roughly half of the company's revenue.</p>
<h3>A Deep Dive into Voya Financial's Financials</h3>
<p><strong>Market Capitalization:</strong> Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.</p>
<p><strong>Revenue Growth:</strong> Voya Financial displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately <strong>8.74%</strong>. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Financials sector.</p>
<p><strong>Net Margin:</strong> Voya Financial's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of <strong>10.1%,</strong> the company may encounter challenges in effective cost control.</p>
<p><strong>Return on Equity (ROE):</strong> The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of <strong>4.9%,</strong> the company may need to address challenges in generating satisfactory returns for shareholders.</p>
<p><strong>Return on Assets (ROA):</strong> Voya Financial's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of <strong>0.12%,</strong> the company may face hurdles in achieving optimal financial returns.</p>
<p><strong>Debt Management:</strong> Voya Financial's debt-to-equity ratio is below the industry average. With a ratio of <b>0.8</b>, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.</p>
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
<p>Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.</p>
<p>Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Analyst Expectations For Voya Financial's Future

<p>Evercore ISI Group  analyst Thomas Gallagher   maintains Voya Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOYA#NYSE">VOYA</a>) with a Outperform and raises the price target from $79 to $82.</p>


Price Target

Evercore ISI Group Maintains Outperform on Voya Financial, Raises Price Target to $82

Voya Financial To Acquire OneAmerica Financial's Retirement Plan Business, Financial Terms Not Disclosed

<p>Barclays  analyst Alex Scott   initiates coverage on Voya Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOYA#NYSE">VOYA</a>) with a Overweight rating and announces Price Target of $84.</p>


Initiation

Barclays Initiates Coverage On Voya Financial with Overweight Rating, Announces Price Target of $84

Voya Financial Appoints Michael Katz As CFO

<p>In the last three months, 11 analysts have published ratings on Voya Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOYA#NYSE">VOYA</a>), offering a diverse range of perspectives from bullish to bearish.</p>
<p>In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>Analysts have recently evaluated Voya Financial and provided 12-month price targets. The average target is $82.45, accompanied by a high estimate of $91.00 and a low estimate of $75.00. This upward trend is apparent, with the current average reflecting a 0.66% increase from the previous average price target of $81.91.</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1724094027_0.png" alt="price target chart" /></p>
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
<p>The standing of Voya Financial among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Nigel Dally</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$75.00</td>
<td>$76.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$87.00</td>
<td>$91.00</td>
</tr>
<tr>
<td>Kenneth Lee</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$83.00</td>
<td>$83.00</td>
</tr>
<tr>
<td>Nigel Dally</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$76.00</td>
<td>$79.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$87.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Michael Ward</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$91.00</td>
<td>$86.00</td>
</tr>
<tr>
<td>Suneet Kamath</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Hold</td>
<td>$80.00</td>
<td>$78.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$83.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Suneet Kamath</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Hold</td>
<td>$78.00</td>
<td>$79.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$88.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Suneet Kamath</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Hold</td>
<td>$79.00</td>
<td>$76.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Voya Financial. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li><strong>Rating:</strong> Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Voya Financial compared to the broader market.</li>
<li><strong>Price Targets:</strong> Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
<p>Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Voya Financial's market standing. Stay informed and make data-driven decisions with our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/VOYA/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on Voya Financial analyst ratings.</strong></a></p>
<h2>All You Need to Know About Voya Financial</h2>
<p>Voya Financial Inc is a financial services company, which, through its subsidiaries, provides various investment, insurance, and retirement solutions to individual and institutional clients in the United States. Its products and services include tax savings plans, individual retirement accounts, group life insurance plans, and employee benefits products, among others. The company tailors each of its products to the needs of its customer base. It operates its business through three principal lines: Wealth Solutions, Investment Management, and Health Solutions The Wealth segment generates roughly half of the company's revenue.</p>
<h3>Key Indicators: Voya Financial's Financial Health</h3>
<p><strong>Market Capitalization Perspectives:</strong> The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.</p>
<p><strong>Revenue Growth:</strong> Voya Financial's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of <strong>8.74%</strong>. This signifies a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Financials sector.</p>
<p><strong>Net Margin:</strong> Voya Financial's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive <strong>10.1%</strong> net margin, the company effectively manages costs and achieves strong profitability.</p>
<p><strong>Return on Equity (ROE):</strong> Voya Financial's ROE stands out, surpassing industry averages. With an impressive ROE of <strong>4.9%</strong>, the company demonstrates effective use of equity capital and strong financial performance.</p>
<p><strong>Return on Assets (ROA):</strong> The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of <strong>0.12%,</strong> the company showcases effective utilization of assets.</p>
<p><strong>Debt Management:</strong> Voya Financial's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of <strong>0.8</strong>.</p>
<h2>What Are Analyst Ratings?</h2>
<p>Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.</p>
<p>Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.</p>
<p>Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


11 Analysts Assess Voya Financial: What You Need To Know

<p>Morgan Stanley  analyst Nigel Dally   maintains Voya Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOYA#NYSE">VOYA</a>) with a Equal-Weight and lowers the price target from $76 to $75.</p>


Morgan Stanley Maintains Equal-Weight on Voya Financial, Lowers Price Target to $75

<p><strong>Sun Life Financial Inc. </strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slf#NYSE">SLF</a>) delivered second-quarter 2024 underlying net income of $1.25 per share, which beat the Zacks Consensus Estimate by 5.9%. The bottom line increased 6.8% year over year. Underlying net income was $730.8 million (C$1 billion), which increased 9% year over year.</p>
<p>Results reflected continued solid growth in Canada and Asia. The U.S. also saw favorable experience in Group Benefits, partially offset by residual headwinds in dental.</p>
<p>Revenues of $6.5 billion increased 14.2% year over year but missed the Zacks Consensus Estimate by 3%.</p>
<p>Wealth sales &amp; asset management gross flows of $33.8 billion (C$46.3 billion) increased 9.1% year over year. Group - Health &amp; Protection sales of $362.5 million (C$496 million) decreased 17.7% year over year. Individual - Protection sales of $550.3 million (C$753 million) jumped 24.7% year over year.</p>
<p>New business contractual service margin was $319.4 million (C$437 million), up 61.9% year over year.</p>
<div class="chart_embed">
<h3>Sun Life Financial Inc. Price, Consensus and EPS Surprise</h3>
<h3><img alt="Sun Life Financial Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/15/1723558499.png" style="height:265px; width:574px" title="" /></h3>
<p>Sun Life Financial Inc. price-consensus-eps-surprise-chart | Sun Life Financial Inc. Quote</p>
</div>
<h3>Segment Results</h3>
<p><strong>SLF Canada</strong>&#39;s underlying net income increased 8% year over year to $294 million (C$402 million). Canada witnessed solid results at Wealth &amp; Asset Management and Individual - Protection.</p>
<p>Wealth sales &amp; asset management gross flows of $3.6 billion ($5 billion) climbed 72% year over year. Group - Health &amp; Protection increased year over year but Individual - Protection sales declined.</p>
<p><strong>SLF U.S.&#39; </strong>underlying net income was $149 million, which decreased 5% year over year, reflecting soft results at Individual &ndash; Protection and Group - Health &amp; Protection.</p>
<p>U.S. group sales of $243 million decreased 22%, reflecting lower Medicare and Medicaid sales in Dental due to large institutional sales in the prior year, partially offset by higher medical stop-loss sales.</p>
<p><strong>SLF Asset Management </strong>reported underlying net income of $224.3 million (C$307 million), which increased 4% year over year, attributable to stable results in MFS. Asset Management exited the reported quarter with $0.8 trillion (C$1.072 trillion) of AUM, comprising $618 billion in MFS and $165.9 billion (C$227 billion) in SLC Management.</p>
<p><strong>SLF Asia </strong>reported underlying net income of $130.8 million (C$179 million), which grew 19% year over year, driven by solid results at Wealth &amp; asset management and Individual - Protection.</p>
<p>Individual sales of $428 million (C$586 million) jumped 30% year over year. Wealth sales &amp; asset management gross flows of $1.5 billion ($2 billion) increased 24% year over year. New busines</p>
<p>New business CSM of $160.8 million (C$220 million) increased 86.4% year over year, primarily driven by sales in Hong Kong.</p>
<h3>Financial Update &nbsp;</h3>
<p>Global assets under management were $1.1 billion (C$1.465 trillion), up 7% year over year.</p>
<p>Sun Life Assurance&#39;s Life Insurance Capital Adequacy Test (LICAT) ratio was 142% as of Jun 30, 2024, up 300 basis points (bps) from Jun 30, 2023, level.</p>
<p>The LICAT ratio for Sun Life (including cash and other liquid assets) was 150%, which expanded 20 bps year over year.</p>
<p>Sun Life&#39;s return on equity was 11.7% in the second quarter of 2024, which contracted 100 bps year over year. The underlying return on equity of 18.1% expanded 40 bps year over year. The leverage ratio of 22.61% improved 70 bps from Jun 30, 2023, level.</p>
<h3>Dividend Update</h3>
<p>The company&#39;s board of directors approved a quarterly dividend of 81 cents per share. The amount will be paid out on Sep 27, 2024, to shareholders of record at the close of business on Aug 28.</p>
<h3>Zacks Rank</h3>
<p>Sun Life currently carries a Zacks Rank #4 (Sell).</p>
<h3>Performance of Other Insurers</h3>
<p><strong>Voya Financial, Inc</strong>. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/voya#NYSE">VOYA</a>) reported second-quarter 2024 adjusted operating earnings of $2.27 per share, which beat the Zacks Consensus Estimate by 3.6%. The bottom line, however, decreased 1.7% year over year. Adjusted operating revenues amounted to $324 million, down 6.6% year over year. The top line missed the Zacks Consensus Estimate by 0.4%.</p>
<p>Net investment income declined 5% year over year to $518 million. Premiums totaled $790 million, up 16.7% from the year-ago quarter. As of Jun 30, 2024, VOYA&#39;s assets under management, assets under administration and advisement totaled $861.3 billion.</p>
<p><strong>Reinsurance Group of America, Incorporated </strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rga#NYSE">RGA</a>) reported second-quarter 2024 adjusted operating earnings of $5.48 per share, which beat the Zacks Consensus Estimate by 10.9%. The bottom line increased 24.5% from the year-ago quarter. RGA&#39;s operating revenues of $5.1 billion improved 20.3% year over year, driven by higher net premiums, investment income, net of related expenses and other revenues. It beat the consensus estimate by 4.7%.</p>
<p>Net premiums of $3.9 billion jumped 17.5% year over year. RGA deployed $307 million for in-force transactions. Investment income and net of related expenses increased 26.3% from the prior-year quarter to $1.1 billion. The average investment yield increased 23 basis points to 4.65%, primarily due to higher new money rates.</p>
<p><strong>Lincoln National Corporation</strong>&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lnc#NYSE">LNC</a>) second-quarter 2024 adjusted earnings of $1.84 per share beat the Zacks Consensus Estimate by 3.4%. However, the bottom line declined 8.9% year over year. Adjusted operating revenues of $4.5 billion dropped 4.3% year over year in the quarter under review. The top line lagged the consensus mark by 2.7%.</p>
<p>Fee income declined 1.9% year over year to $1.3 billion, which missed the Zacks Consensus Estimate by 2.1%. Insurance premiums of $1.6 billion rose 0.8% year over year. The metric beat the consensus mark by 0.7%. LNC&#39;s net investment income of $1.3 billion declined 11.7% year over year and missed the consensus mark by 1.7%. Meanwhile, other revenues fell 5.9% year over year.</p>
<p><a href="https://www.zacks.com/stock/news/2321448/sun-life-slf-q2-earnings-beat-revenues-miss-estimates?cid=CS-BENZ-FT-analyst_blog|earnings_article-2321448">To read this article on Zacks.com click here.</a></p>


<p>Wells Fargo  analyst Elyse Greenspan   maintains Voya Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOYA#NYSE">VOYA</a>) with a Overweight and lowers the price target from $91 to $87.</p>


Wells Fargo Maintains Overweight on Voya Financial, Lowers Price Target to $87

<p><strong>Manulife Financial Corporation</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mfc#NYSE">MFC</a>) delivered second-quarter 2024 core earnings of 66 cents per share, which beat the Zacks Consensus Estimate by 3.1%. The bottom line improved 6.4% year over year.</p>
<div class="chart_embed">
<p><strong>Manulife Financial Corp Price, Consensus and EPS Surprise</strong></p>
<p><img alt="Manulife Financial Corp Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/52/1723120916.png" style="height:265px; width:577px" title="" /></p>
<p>Manulife Financial Corp price-consensus-eps-surprise-chart | Manulife Financial Corp Quote</p>
<p>Core earnings of $1.3 billion (C$1.7 billion) increased 8.3% year over year. The improvement was driven by continued business growth momentum and updates to actuarial methods and assumptions in the second half of 2023, higher fee income from favorable market impacts and positive net flows, a favorable tax true-up, strong growth in Group Insurance and favorable net insurance experience.</p>
<p>New business value (NBV) in the reported quarter was $528 million (C$723 million), up 21.4% year over year.</p>
<p>New business contractual service margin of $459 million (C$628 million) rose 4.1% year over year.</p>
<p>Annualized premium equivalent (APE) sales increased 16.7% year over year to $1.4 billion (C$1.9 billion), attributable to higher sales in Asia and Canada.</p>
<p>The expense efficiency ratio increased 30 basis points (bps) to 45.4%. The increase reflects a rise of 6% and 7% in pre-tax core earnings and core expenses, respectively.</p>
<p>Wealth and asset management assets under management and administration were $682 billion (C$933.1 billion), up 10.3% year over year.<br />
Retail net outflows of $0.1 billion remained unchanged year over year, as increased demand for investment products amid equity market recovery and improved investor sentiment was offset by higher redemptions.</p>
<p>Core return on equity, measuring the company&#39;s profitability, expanded 20 bps year over year to 15.7%. The financial leverage ratio deteriorated 120 basis points to 24.6% at the end of the quarter.</p>
<p>Life Insurance Capital Adequacy Test ratio was 139% as of Jun 30, 2024, up from 136% reported in the year-ago quarter.</p>
<p>Adjusted book value per common share was $33.96, up 15% year over year.</p>
</div>
<h3>Segmental Performance</h3>
<p>Global Wealth and Asset Management division&#39;s core earnings came in at $291.6 million (C$399 million), up 22.5% year over year.</p>
<p>Asia division&#39;s core earnings totaled $472 million, up 40% year over year. NBV, APE sales and new business CSM increased 19%, 7% and 10%, respectively, year over year, reflecting higher sales volumes in Japan and Hong Kong.</p>
<p>Manulife Financial&#39;s Canada division&#39;s core earnings of $294 million (C$402 million) were up 6.1% year over year. APE sales and NBV increased 61% and 50%, respectively, driven by higher sales volumes in all business units, led by a large-case Group Insurance sale. New business CSM grew 33%, driven by margin expansion in Individual Insurance and higher sales volumes in segregated fund products.</p>
<p>The U.S. division reported core earnings of $303 million, down 11% year over year. APE sales decreased 4% year over year with a shift in product mix, while NBV grew 3%. New business CSM decreased 30% due to a change in product mix and the impact of higher interest rates.</p>
<h3>Zacks Rank</h3>
<p>Manulife Financial currently carries a Zacks Rank #4 (Sell).</p>
<h3>Performance of Other Life Insurers</h3>
<p><strong>Voya Financial, Inc. </strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/voya#NYSE">VOYA</a>) reported second-quarter 2024 adjusted operating earnings of $2.27 per share, which beat the Zacks Consensus Estimate by 3.6%. The bottom line, however, decreased 1.7% year over year. Adjusted operating revenues amounted to $324 million, down 6.6% year over year. The top line missed the Zacks Consensus Estimate by 0.4%.</p>
<p>Net investment income declined 5% year over year to $518 million. Premiums totaled $790 million, up 16.7% from the year-ago quarter. As of Jun 30, 2024, VOYA&#39;s assets under management, assets under administration and advisement totaled $861.3 billion.</p>
<p><strong>Lincoln National Corporation&#39;s</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lnc#NYSE">LNC</a>) second-quarter 2024 adjusted earnings of $1.84 per share beat the Zacks Consensus Estimate by 3.4%. However, the bottom line declined 8.9% year over year. Adjusted operating revenues of $4.5 billion dropped 4.3% year over year in the quarter under review. The top line lagged the consensus mark by 2.7%.</p>
<p>Fee income declined 1.9% year over year to $1.3 billion, which missed the Zacks Consensus Estimate by 2.1%. Insurance premiums of $1.6 billion rose 0.8% year over year. The metric beat the consensus mark by 0.7%. Net investment income of $1.3 billion dipped 11.7% year over year and missed the consensus mark by 1.7%. Meanwhile, other revenues fell 5.9% year over year.</p>
<p><strong>Reinsurance Group of America, Incorporated</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rga#NYSE">RGA</a>) reported second-quarter 2024 adjusted operating earnings of $5.48 per share, which beat the Zacks Consensus Estimate by 10.9%. The bottom line increased 24.5% from the year-ago quarter. Net foreign currency fluctuations had a favorable effect of 6 cents per share on adjusted operating income compared with the prior year. RGA&#39;s operating revenues of $5.1 billion improved 20.3% year over year, driven by higher net premiums, investment income, net of related expenses and other revenues. It beat the consensus estimate by 4.7%.</p>
<p>Net premiums of $3.9 billion jumped 17.5% year over year. Investment income and net of related expenses increased 26.3% from the prior-year quarter to $1.1 billion. The average investment yield increased 23 basis points to 4.65%, primarily due to higher new money rates. Total benefits and expenses at Reinsurance Group climbed 18.5% year over year to $4.6 billion.</p>
<p><a href="https://www.zacks.com/stock/news/2319430/manulife-mfc-q2-earnings-beat-estimates-nbv-sales-rise-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2319430">To read this article on Zacks.com click here.</a></p>


<p>RBC Capital  analyst Kenneth Lee   reiterates Voya Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOYA#NYSE">VOYA</a>) with a Outperform and maintains $83 price target.</p>


Reiteration

RBC Capital Reiterates Outperform on Voya Financial, Maintains $83 Price Target

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Shares of companies within the broader financial sector are trading lower amid overall weakness following concerns about recently issued US economic data.

<p>Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.</p>
<ul>
<li>Morgan Stanley analyst Nigel Dally downgraded the rating for <strong>Voya Financia</strong>l (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOYA#NYSE">VOYA</a>) from Overweight to Equal-Weight, while cutting the price target from $79 to $76. Voya Financial shares fell 2.1% to close at $72.73 on Wednesday. <a href="https://www.benzinga.com/quote/VOYA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Oppenheimer analyst Jason Helfstein downgraded the rating for <strong>Etsy </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>) from Outperform to Perform. Etsy shares gained 1% to settle at $65.14 on Wednesday. <a href="https://www.benzinga.com/quote/ETSY/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup analyst Thomas Palmer downgraded <strong>Bunge Global SA</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BG#NYSE">BG</a>) from Buy to Neutral, while cutting the price target from $125 to $114. Bunge Global shares fell 8.1% to close at $105.23 on Wednesday. <a href="https://www.benzinga.com/quote/BG/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Compass Point analyst Floris Van Dijkum downgraded the rating for <strong>Host Hotels &amp; Resorts, Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HST#NASDAQ">HST</a>) from Buy to Neutral, while lowering the price target from $25 to $18. Host Hotels shares fell 1.6% to close at $17.51 on Wednesday. <a href="https://www.benzinga.com/quote/HST/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Truist Securities analyst Ki Bin Kim downgraded <strong>Public Storage</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSA#NYSE">PSA</a>) from Buy to Hold and maintained the price target of $306. Public Storage shares fell 2.8% to settle at $295.92 on Wednesday. <a href="https://www.benzinga.com/quote/PSA/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
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<p>Morgan Stanley  analyst Nigel Dally   downgrades Voya Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOYA#NYSE">VOYA</a>) from Overweight to Equal-Weight and lowers the price target from $79 to $76.</p>


Morgan Stanley Downgrades Voya Financial to Equal-Weight, Lowers Price Target to $76

<p>JP Morgan  analyst Jimmy Bhullar   maintains Voya Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOYA#NYSE">VOYA</a>) with a Overweight and lowers the price target from $88 to $87.</p>


JP Morgan Maintains Overweight on Voya Financial, Lowers Price Target to $87

Voya Financial shares are trading lower. The company reported Q2 financial results.

<p>Voya Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOYA#NYSE">VOYA</a>) reported quarterly earnings of $2.18 per share which beat the analyst consensus estimate of $2.14 by 1.87 percent.  The company reported quarterly sales of $2.033 billion which beat the analyst consensus estimate of $1.870 billion by 8.70 percent.  This is a 8.66 percent increase over sales of $1.871 billion the same period last year.</p>


Voya Financial Q2 2024 Adj. EPS $2.18 Beats $2.14 Estimate, Sales $2.033B Beat $1.870B Estimate

<p>Payable Sept. 26 To Shareholders Of Record As Of Aug. 27</p>


Voya Financial Announces 12.5% Increase In Dividend From $0.40 To $0.45 Per Share For Q3 2024

Voya Financial appoints CFO

Voya Financial (VOYA) just unveiled an announcement. Voya Financial, Inc. has announced the upcoming retirement of their Executive Vice President a...

Voya Financial Announces CFO Transition and Regulatory Compliance

Analysts have been eager to weigh in on the Financial sector with new ratings on Voya Financial (VOYA – Research Report) and CME Group (CME – Resea...

Analysts Have Conflicting Sentiments on These Financial Companies: Voya Financial (VOYA) and CME Group (CME)

5 Relatively Secure And Cheap Dividend Stocks To Invest In -- September 2024

KBW analyst Ryan Krueger maintained a Buy rating on Voya Financial (VOYA – Research Report) today and set a price target of $82.00. The company's s...

KBW Sticks to Their Buy Rating for Voya Financial (VOYA)

Voya financial to acquire OneAmerica Financial's retirement plan business

Wells Fargo analyst Elyse Greenspan maintained a Buy rating on Voya Financial (VOYA – Research Report) today. The company's shares closed today at ...

Voya Financial (VOYA) Gets a Buy from Wells Fargo

Barclays analyst Alex Scott maintained a Buy rating on Voya Financial (VOYA – Research Report) today and set a price target of $84.00. The company'...

Barclays Remains a Buy on Voya Financial (VOYA)

Voya Financial cut to Market Perform at Raymond James

Analyst Bob Huang from Morgan Stanley maintained a Hold rating on Voya Financial (VOYA – Research Report) and increased the price target to $82.00 ...

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