We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Voya Financial in Talks with Insurance Groups to Sell Business
Read MoreHide Full Article
Voya Financial, Inc. (VOYA - Free Report) is considering selling its business to other insurance groups.
In connection with the divestiture, Voya has discussed with the companies, which are interested in its purchase. The companies include insurer American International Group Inc., asset manager Principal Financial Group Inc. and life insurance and retirement plan provider Prudential Financial Incorporation.
This divestiture could value the U.S. retirement and insurance plan provider at $10 billion or more, which is above its current market capitalization of $8 billion.
Voya sold its annuity business to a consortium led by private equity group Apollo, two years back. In December, it divested another $2.5 billion block of life insurance business to Resolution. This, in turn, makes Voya more attractive to an acquirer, who focuses on capital-light markets, in which it specializes. Currently, the company is focused on selling its remaining business lines, which include retirement, investment management and employee benefits plan.
This Zacks Rank #3 (Hold) stock has outperformed its industry in the past year. Shares of the company have gained 47.6% compared with the industry’s growth of 26.7%.
American Equity Investment Life Holding Co. provides life insurance products and services in the United States. The company surpassed the Zacks Consensus Estimate in the trailing four quarters, the beat being 47.63%, on average.
Sun Life Financial is a financial services company. It provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company outpaced earnings estimates in two of the last four reported quarters, the beat being 2.13%, on average.
Brighthouse Financial offers annuity and life insurance products in the United States. The company topped earnings estimates in two of the last four reported quarters, the beat being 0.70%, on average.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Shutterstock
Voya Financial in Talks with Insurance Groups to Sell Business
Voya Financial, Inc. (VOYA - Free Report) is considering selling its business to other insurance groups.
In connection with the divestiture, Voya has discussed with the companies, which are interested in its purchase. The companies include insurer American International Group Inc., asset manager Principal Financial Group Inc. and life insurance and retirement plan provider Prudential Financial Incorporation.
This divestiture could value the U.S. retirement and insurance plan provider at $10 billion or more, which is above its current market capitalization of $8 billion.
Voya sold its annuity business to a consortium led by private equity group Apollo, two years back. In December, it divested another $2.5 billion block of life insurance business to Resolution. This, in turn, makes Voya more attractive to an acquirer, who focuses on capital-light markets, in which it specializes. Currently, the company is focused on selling its remaining business lines, which include retirement, investment management and employee benefits plan.
This Zacks Rank #3 (Hold) stock has outperformed its industry in the past year. Shares of the company have gained 47.6% compared with the industry’s growth of 26.7%.
Stocks to Consider
Some better-ranked stocks from the same space are American Equity Investment Life Holding Co. (AEL - Free Report) , Sun Life Financial Inc. (SLF - Free Report) and Brighthouse Financial Inc. (BHF - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
American Equity Investment Life Holding Co. provides life insurance products and services in the United States. The company surpassed the Zacks Consensus Estimate in the trailing four quarters, the beat being 47.63%, on average.
Sun Life Financial is a financial services company. It provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company outpaced earnings estimates in two of the last four reported quarters, the beat being 2.13%, on average.
Brighthouse Financial offers annuity and life insurance products in the United States. The company topped earnings estimates in two of the last four reported quarters, the beat being 0.70%, on average.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>