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.