Voya Financial Boosts Authorization To Repurchase Common Stock By $500M, Bringing The Total To $609M
Portfolio Pulse from Benzinga Newsdesk
Voya Financial has increased its authorization to repurchase common stock by $500M, bringing the total to $609M.
August 04, 2023 | 10:33 am
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POSITIVE IMPACT
Voya Financial's decision to increase its stock repurchase authorization by $500M could potentially boost its stock price in the short term.
Stock repurchases often lead to a rise in the stock price as they reduce the number of shares in circulation, thereby increasing earnings per share. This move by Voya Financial signals confidence in the company's financial health and could attract investors, potentially leading to a short-term increase in the stock price.
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