Voya Financial (NYSE:VOYA) Posts Quarterly Earnings Results

Voya Financial (NYSE:VOYA) announced its quarterly earnings data on Tuesday. The asset manager reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.13, Zacks reports. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Voya Financial had a return on equity of 16.74% and a net margin of 10.48%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.31 EPS.

Voya Financial Trading Down 0.8 %

NYSE VOYA traded down $0.56 during trading hours on Wednesday, hitting $73.75. 720,571 shares of the company’s stock were exchanged, compared to its average volume of 828,500. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 0.53 and a beta of 1.05. The stock has a 50-day simple moving average of $72.76 and a 200 day simple moving average of $71.31. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. Voya Financial has a 1-year low of $63.02 and a 1-year high of $76.75.

Voya Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, August 27th will be paid a $0.45 dividend. This is a boost from Voya Financial’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 27th. This represents a $1.80 annualized dividend and a dividend yield of 2.44%. Voya Financial’s dividend payout ratio is presently 22.73%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VOYA. Bank of America increased their price target on shares of Voya Financial from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. lowered their price target on Voya Financial from $88.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday. Jefferies Financial Group upped their price objective on Voya Financial from $78.00 to $80.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Wells Fargo & Company boosted their target price on Voya Financial from $91.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Finally, Evercore ISI raised their price target on Voya Financial from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.20.

Insider Buying and Selling at Voya Financial

In related news, Director Yvette S. Butler sold 2,165 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $73.78, for a total transaction of $159,733.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.37% of the company’s stock.

Voya Financial Company Profile

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.