Seeking Alpha

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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