Voya Financial (NYSE:VOYA) Issues Quarterly Earnings Results, Misses Expectations By $0.47 EPS

Voya Financial (NYSE:VOYA) released its earnings results on Tuesday. The asset manager reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.47), FiscalAI reports. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.90 billion. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.Voya Financial’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.66 EPS.

Voya Financial Price Performance

NYSE VOYA opened at $95.99 on Wednesday. The company has a market cap of $8.70 billion, a PE ratio of 14.50, a P/E/G ratio of 0.92 and a beta of 0.89. The firm’s 50 day moving average price is $92.93 and its 200-day moving average price is $80.59. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.27 and a current ratio of 0.27. Voya Financial has a 52-week low of $64.50 and a 52-week high of $103.85.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Wednesday, August 26th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, August 26th. Voya Financial’s dividend payout ratio is presently 28.40%.

Insiders Place Their Bets

In other Voya Financial news, insider Trevor Ogle sold 3,994 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $90.00, for a total transaction of $359,460.00. Following the sale, the insider owned 2,887 shares of the company’s stock, valued at approximately $259,830. This trade represents a 58.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Voya Financial

A number of hedge funds have recently made changes to their positions in VOYA. Allworth Financial LP raised its holdings in Voya Financial by 75.5% in the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock worth $26,000 after purchasing an additional 151 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in Voya Financial in the fourth quarter worth $28,000. EverSource Wealth Advisors LLC increased its position in shares of Voya Financial by 625.0% during the second quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager’s stock worth $39,000 after purchasing an additional 475 shares in the last quarter. Fulcrum Asset Management LLP acquired a new stake in shares of Voya Financial in the 3rd quarter worth $42,000. Finally, Kestra Advisory Services LLC acquired a new position in Voya Financial during the 4th quarter valued at about $44,000. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on VOYA. Barclays raised their price target on Voya Financial from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Morgan Stanley lifted their price objective on shares of Voya Financial from $84.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. UBS Group increased their target price on shares of Voya Financial from $95.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods upped their price target on shares of Voya Financial from $92.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, TD Cowen increased their price target on Voya Financial from $112.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Voya Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.15.

About Voya Financial

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.