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Here's Why You Should Hold on to Voya Financial (VOYA) Now

Zacks Equity Research

Voya Financial Incorporation VOYA is well-poised for growth backed by solid market presence and prudent capital deployment.

Estimates for Voya Financial have been revised upward over the past seven days, reflecting analysts’ confidence in the stock. The Zacks Consensus Estimate for 2020 earnings per share has moved up 0.2% in the said time frame. The company also beat estimates in two of the trailing four quarters by 0.86%, on average.

Shares of Voya Financial have gained 45.3% year to date, outperforming the industry’s rally of 25.9%.

Voya Financial’s core businesses segments Retirement, Investment Management and Employee Benefits are driving the company’s bottom line. These businesses fetch higher return and boast a solid market presence.

The company is committed to its objective of achieving improving EPS on the back of organic growth, cost savings and capital management. For 2019, the company expects normalized EPS growth to be around 10%.

Banking on operational excellence, the company deploys capital effectively to enhance shareholder value. Recently in August 2019, the company hiked dividend by 1400%. These endeavors make the stock an attractive pick for yield-seeking investors.

This Zacks Rank #3 (Hold) life insurer remains focused on reducing expenses. The company anticipates achieving run rate cost savings of at least $250 million by 2020 end.

The Zacks Consensus Estimate for 2019 is pegged at $4.97, indicating an improvement of 23% from the year-ago reported figure. The expected long-term earnings growth rate is pegged at 19.6% which betters the industry average of 11.4%. The stock also carries a favorable Value Score of B.

Stocks to Consider

Some better-ranked stocks from the same space are Donegal Group Incorporation DGICA, American Equity Investment Life Holding Company AEL and Primerica Incorporation PRI. While Donegal Group Incorporation and American Equity Investment sport a Zacks Rank #1 (Strong Buy), Primerica carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Donegal Group Incorporation provides personal and commercial lines of property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. The company beat estimates in the trailing four quarters by 248.34%, on average.

American Equity Investment Life Holding Company provides life insurance products and services in the United States. The company beat estimates in the trailing four quarters by 47.63%, on average.

Primerica Incorporation provides financial products to middle income households in the United States and Canada.  The company beat estimates in the trailing four quarters by 4.10%, on average.

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Primerica, Inc. (PRI) : Free Stock Analysis Report
 
Voya Financial, Inc. (VOYA) : Free Stock Analysis Report
 
American Equity Investment Life Holding Company (AEL) : Free Stock Analysis Report
 
Donegal Group, Inc. (DGICA) : Free Stock Analysis Report
 
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