Voya’s Investment Management segment provides fixed-income, equity, multi-asset and alternative products and solutions to individual investors and institutional clients through its direct sales force, consultant channel, banks, broker-dealers and independent financial advisers.
The Health Solutions segment offers stop loss, group life, voluntary employee-paid and disability products through consultants, brokers, third-party administrators, enrollment firms and technology partners to mid-sized and large businesses.
Shareholders receive a 1.08% dividend. The expected dividend hike is $0.20 per share to $0.37. The $86 Wells Fargo price objective compares with a $83.64 consensus target and a closing print of $75.56 for Voya Financial stock on Monday.
Wells Fargo
This is a big money center bank benefiting from higher net interest income, and it is perhaps the best value play for 2023. Wells Fargo & Co. (NYSE: WFC) is a diversified financial services company that provides banking, investment, mortgage and consumer and commercial finance products and services in the United States and internationally.
The Consumer Banking and Lending segment at Wells Fargo offers diversified financial products and services for consumers and small businesses. Financial products and services include checking and savings accounts, and credit and debit cards, as well as home, auto, personal and small business lending services.
Its Commercial Banking segment provides financial solutions to private, family-owned and certain public companies. Its products and services include banking and credit products across various industry sectors and municipalities, secured lending and lease products and treasury management services.
The Corporate and Investment Banking segment offers a suite of capital markets, banking and financial products and services to corporate, commercial real estate, government and institutional clients. Products and services include corporate banking, investment banking, treasury management, commercial real estate lending and servicing, equity and fixed income solutions, as well as sales, trading and research capabilities services.
The Wealth and Investment Management segment provides personalized wealth management, brokerage, financial planning, lending, private banking and trust and fiduciary products and services to affluent, high net worth and ultra-high net worth clients.
Investors currently receive a 2.55% dividend. The bank’s $0.30 per share dividend is expected to rise to $0.35. Wells Fargo has a $49 price target at Morgan Stanley, but the consensus price target is just higher at $50.56. The shares were last seen on Monday trading at $46.42.
These five top stocks are rated Buy across Wall Street and their dividends are expected to increase soon. Not only is raising dividends and returning capital to investors important, but it also shows that the company is doing well and has the earnings and cash flow strength to increase the payouts.
Originally published at 24/7 Wall St.
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