On Tuesday, Voya Financial Inc (NYSE:VOYA)’s shares inclined 0.93% to $45.76.
Voya Financial Inc (VOYA) declared that the company has raised its 2018 Ongoing Business1 Adjusted Operating Return on Equity (Adjusted ROE) target to 13.5% to 14.5%, up from the formerly declared range of 13% to 14%. Senior administration will talk about further details about Voya’s strategy and plans at the company’s 2015 investor day meeting starting at 1 p.m. ET.
New Share Repurchase Authorization
Voya Financial also declared recently that the board of directors has raised the amount of common stock authorized for repurchase under the company’s share repurchase program by an additional $750 million.
In April and May 2015, the company utilized $72 million under its previous share repurchase authorization to repurchase about 1.6 million of its shares. The aggregate amount presently accessible under the company’s share repurchase authorization is now about $808 million2.
Voya Financial, Inc. operates as a retirement, investment, and insurance company in the United States. The company has five segments: Retirement, Annuities, Investment Administration, Individual Life, and Employee Benefits. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services in corporate, education, healthcare, and government markets; and rollover individual retirement accounts and other retail financial products, in addition to financial advisory services to individual customers.
Nordstrom, Inc. (NYSE:JWN)’s shares gained 0.42% to $73.56.
Nordstrom, Inc. (JWN) declared a contract under which TD will acquire Nordstrom’s existing U.S. Visa and private label consumer credit card portfolio, which presently totals about $2.2 billion in receivables. In addition, the two companies have reached a separate long-term agreement under which TD will become the exclusive U.S. issuer of Nordstrom-branded Visa and private label consumer credit cards to Nordstrom customers.
This transaction enables Nordstrom to retain all aspects of customer-facing activities, aligning with Nordstrom’s strategy of enhancing the customer experience while allowing for improvement in capital efficiency.
Nordstrom, Inc., a fashion specialty retailer, offers apparel, shoes, cosmetics, and accessories for men, women, and children in the United States and Canada. It operates through two segments, Retail and Credit. The Retail segment offers a selection of brand name and private label merchandise through various channels, counting Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; and other retail channels, counting Trunk Club showrooms and TrunkClub.com, Jeffrey boutiques, and clearance store that operates under the name Last Chance.
At the end of Tuesday’s trade, AFLAC Incorporated (NYSE:AFL)‘s shares surged 0.26% to $62.26.
A.M. Best has affirmed the financial strength rating of A+ (Superior) and issuer credit ratings (ICR) of “aa-” of American Family Life Assurance Company of Columbus (Omaha, NE), American Family Life Assurance Company of Columbus (Japan Branch), American Family Life Assurance Company of New York (New York, NY) and Continental American Insurance Company (Continental American) (Columbia, SC). These companies represent the life/health insurance auxiliaries of Aflac Incorporated (Aflac) (Columbus, GA) [NYSE: AFL]. Conpresently, A.M. Best has affirmed the ICR of “a-” and all existing debt ratings of Aflac. The outlook for all ratings is stable. (See below for a detailed listing of debt ratings.)
The ratings recognize Aflac’s strong risk-adjusted capitalization, diverse sources of earnings and cash flows and its recognized position as a leading provider of individual guaranteed-renewable health and accident insurance both in Japan and the United States. In addition, the ratings reflect A.M. Best’s favorable view of the company’s execution of its long-term investment allocation strategy. Partially offsetting these strengths are the challenges Aflac has practiced more recently in growing sales in its Japan and U.S. markets and the impact of currency volatility on merged results.
Aflac continues to maintain strong risk-adjusted capital at its operating auxiliaries supported by comprising earnings and good liquidity throughout the organization. Additionally, the company is fairly active in the capital markets, with its most recent note issuance ($1 billion in March 2015) used to refinance high-coupon debt. Aflac’s debt-to-capital ratio is in line with peers at about 25% and interest coverage is strong at over 15 times.
Aflac Incorporated, through its partner, American Family Life Assurance Company of Columbus, provides supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers various voluntary supplemental insurance products, counting cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan.
Sprouts Farmers Market Inc (NASDAQ:SFM), ended its Tuesday’s trading session with -1.54% loss, and closed at $29.99.
Sprouts Farmers Market Inc (SFM) declared that Doug Sanders, president and chief executive officer, will present at the Deutsche Bank Global Consumer Conference being held in Paris. The presentation will start at 4:00 pm CEST (10:00 am ET) on Tuesday, June 9, 2015.
Sprouts Farmers Market, Inc. operates as a specialty retailer of fresh, natural, and organic food in the United States. The company’s stores offer fresh produce, bulk foods, vitamins and supplements, grocery products, meat and seafood products, deli and bakery products, dairy and dairy alternatives, frozen foods, beer and wine, natural health and body care products, and natural household products.
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