Voya Financial, Inc. Plans Quarterly Dividend of $0.40 (NYSE:VOYA)

Voya Financial, Inc. (NYSE:VOYA) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Tuesday, May 28th will be paid a dividend of 0.40 per share by the asset manager on Wednesday, June 26th. This represents a $1.60 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Tuesday, May 28th.

Voya Financial has increased its dividend payment by an average of 26.0% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Voya Financial has a dividend payout ratio of 16.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Voya Financial to earn $9.52 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 16.8%.

Voya Financial Trading Down 1.3 %

VOYA traded down $0.88 during trading on Thursday, reaching $68.71. 26,518 shares of the company’s stock were exchanged, compared to its average volume of 873,592. The company’s fifty day moving average price is $69.73 and its 200-day moving average price is $70.30. The firm has a market capitalization of $6.96 billion, a PE ratio of 12.81, a P/E/G ratio of 0.46 and a beta of 1.06. Voya Financial has a fifty-two week low of $63.02 and a fifty-two week high of $77.28. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.30 and a current ratio of 0.30.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, February 6th. The asset manager reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. Voya Financial had a net margin of 8.51% and a return on equity of 16.60%. The firm had revenue of $236.00 million during the quarter, compared to the consensus estimate of $304.66 million. As a group, equities analysts forecast that Voya Financial will post 8.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on VOYA shares. Wells Fargo & Company boosted their price objective on shares of Voya Financial from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Piper Sandler boosted their price target on shares of Voya Financial from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Morgan Stanley reduced their target price on shares of Voya Financial from $79.00 to $78.00 and set an “overweight” rating for the company in a report on Friday, March 1st. The Goldman Sachs Group restated a “neutral” rating and issued a $82.00 price objective on shares of Voya Financial in a research report on Monday, January 8th. Finally, Evercore ISI raised their price objective on Voya Financial from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Voya Financial presently has an average rating of “Moderate Buy” and an average target price of $82.50.

About Voya Financial

Voya Financial, Inc engages in the provision of workplace benefits and savings products in the United States and internationally. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees.