Principal adds portfolio manager to Global Asset Allocation team; Wagner Law Group adds partner who specializes in multiemployer plans; Voya purchases HSA TPA; and more.
Operator
Good morning and welcome to the Voya Financial First Quarter 2021 Earnings Conference Call. [Operator Instructions]
I would now like to turn the conference over to Michael Katz, Executive Vice President, Finance, Strategy and Investor Relations. Please go ahead.
Mike Kartz
Executive Vice President, Chief Strategy, Planning and Investor Relations Officer
Thank you and good morning. Welcome to Voya Financial s first quarter 2021 earnings conference call. We appreciate all of you who have joined us for this call. As a reminder, materials for today s call are available on our website at investors.voya.com or via the webcast.
Turning to Slide 2. Some of the comments made during this conference call may contain forward-looking statements within the meaning of federal securities law. This includes potential impacts related to COVID-19. I refer you to this slide for more information.
Voya: Q1 Earnings Snapshot
FacebookTwitterEmail
NEW YORK (AP) Voya Financial Inc. (VOYA) on Monday reported first-quarter net income of $1.1 billion, after reporting a loss in the same period a year earlier.
The New York-based company said it had profit of $8.29 per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, came to $1.03 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.
Voya shares have risen 17% since the beginning of the year. In the final minutes of trading on Monday, shares hit $68.53, a rise of 53% in the last 12 months.
Voya encourages Congress to pass new legislation to ensure all Americans have necessary resources for successful retirement
Voya data finds majority of American workers agree the government should. | May 5, 2021
Lockheed eyes future with DC plan revamping
Improved investment lineup, plan design and simplicity to help in war for talent
Paul Colonna urged a ‘less is more approach’ in streamlining Lockheed’s DC investment lineup.
Although Lockheed Martin Corp. s defined contribution plans are blessed with a strong participation rate and healthy participant investing, executives wanted improvements in the investment lineup and plan design to create simplicity, encourage retirees to keep their retirement assets in the company plans and make the company more attractive to prospective employees. We are in a war for talent, said Paul M. Colonna, president and CIO of the Lockheed Martin Investment Management Co., Bethesda, Md., which handles investments for the company s seven DC plans with $50.2 billion in assets. We must do our part for retention and recruitment.