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Voya (VOYA) Moves 5.9% Higher: Will This Strength Last?
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Voya Financial (VOYA - Free Report) shares soared 5.9% in the last trading session to close at $74.94. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.6% gain over the past four weeks.
Voya will buy OneAmerica Financial’s full-service retirement plan business. The acquisition adds strategically attractive scale to Voya’s full-service retirement business within Wealth Solutions. Once acquired, the acquisition will broaden Voya’s set of capabilities that complement its existing product suite as well as offer new opportunities to expand Voya’s distribution footprint and deepen its existing advisor relationships.
The Wealth Solutions segment is steadily witnessing significant growth on the back of continued strength in underlying business results, higher surplus income, lower credited interest, improved investment income, weaker fee-based margin, a favorable change in deferred acquisition costs and value of business acquired and lower administrative expenses. In Wealth Solutions, full-service recurring deposits should continue to gain from growth in the corporate markets.
Voya is set to gain from its core businesses that are higher-growth, higher-return and capital-light businesses and boasting a solid presence.
This retirement, investment and insurance company is expected to post quarterly earnings of $2.18 per share in its upcoming report, which represents a year-over-year change of +5.3%. Revenues are expected to be $329.07 million, up 17.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Voya, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on VOYA going forward to see if this recent jump can turn into more strength down the road.
Voya belongs to the Zacks Insurance - Life Insurance industry. Another stock from the same industry, F&G Annuities & Life, Inc. (FG - Free Report) , closed the last trading session 1.6% lower at $39.58. Over the past month, FG has returned 2.2%.
F&G Annuities & Life, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.19. Compared to the company's year-ago EPS, this represents a change of +24%. F&G Annuities & Life, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Voya (VOYA) Moves 5.9% Higher: Will This Strength Last?
Voya Financial (VOYA - Free Report) shares soared 5.9% in the last trading session to close at $74.94. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.6% gain over the past four weeks.
Voya will buy OneAmerica Financial’s full-service retirement plan business. The acquisition adds strategically attractive scale to Voya’s full-service retirement business within Wealth Solutions. Once acquired, the acquisition will broaden Voya’s set of capabilities that complement its existing product suite as well as offer new opportunities to expand Voya’s distribution footprint and deepen its existing advisor relationships.
The Wealth Solutions segment is steadily witnessing significant growth on the back of continued strength in underlying business results, higher surplus income, lower credited interest, improved investment income, weaker fee-based margin, a favorable change in deferred acquisition costs and value of business acquired and lower administrative expenses. In Wealth Solutions, full-service recurring deposits should continue to gain from growth in the corporate markets.
Voya is set to gain from its core businesses that are higher-growth, higher-return and capital-light businesses and boasting a solid presence.
This retirement, investment and insurance company is expected to post quarterly earnings of $2.18 per share in its upcoming report, which represents a year-over-year change of +5.3%. Revenues are expected to be $329.07 million, up 17.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Voya, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on VOYA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Voya belongs to the Zacks Insurance - Life Insurance industry. Another stock from the same industry, F&G Annuities & Life, Inc. (FG - Free Report) , closed the last trading session 1.6% lower at $39.58. Over the past month, FG has returned 2.2%.
F&G Annuities & Life, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.19. Compared to the company's year-ago EPS, this represents a change of +24%. F&G Annuities & Life, Inc. currently boasts a Zacks Rank of #3 (Hold).