ING U.S. reiterated Market Perform at Wells after buyback

Analyst John Hall expects VOYA's stock to react favorably to the repurchase announcement as his model had not assumed any this year. He notes the company's combined estimated risk-based capital ratio was 504% at the end of 2013. At the 425% target, excess capital would be about $1.1B, with $800M available for common dividends.

He reiterates his Market Perform rating.

Previous: VOYA announces buyback along with repurchase of stock from ING

After an initial 4% pop on the announcement, the stock's ahead 0.8% on the session.

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