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

Voya Financial (NYSE:VOYA) released its quarterly earnings data on Tuesday. The asset manager reported $1.51 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.47), FiscalAI reports. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.

Voya Financial Trading Up 0.8%

NYSE VOYA traded up $0.84 during trading hours on Tuesday, hitting $100.91. 1,054,495 shares of the company’s stock were exchanged, compared to its average volume of 1,136,584. The business’s 50 day moving average is $92.56 and its 200-day moving average is $80.43. 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 12-month low of $64.50 and a 12-month high of $103.85. The firm has a market capitalization of $9.15 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 0.92 and a beta of 0.89.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Wednesday, August 26th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, August 26th. Voya Financial’s dividend payout ratio is presently 28.40%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Voya Financial

Several hedge funds have recently modified their holdings of the stock. Invesco Ltd. grew its holdings in Voya Financial by 20.4% in the fourth quarter. Invesco Ltd. now owns 386,214 shares of the asset manager’s stock valued at $28,769,000 after purchasing an additional 65,380 shares during the period. Corient Private Wealth LLC raised its stake in Voya Financial by 123.3% during the fourth quarter. Corient Private Wealth LLC now owns 64,056 shares of the asset manager’s stock worth $4,772,000 after purchasing an additional 35,367 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Voya Financial by 82.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,603 shares of the asset manager’s stock worth $864,000 after purchasing an additional 5,242 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of Voya Financial in the 4th quarter valued at $423,000. Finally, NewEdge Advisors LLC grew its stake in shares of Voya Financial by 2.5% during the 4th quarter. NewEdge Advisors LLC now owns 10,093 shares of the asset manager’s stock valued at $752,000 after buying an additional 244 shares during the period. 96.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on VOYA shares. Raymond James Financial upgraded shares of Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 target price for the company in a report on Monday, June 8th. TD Cowen increased their price target on shares of Voya Financial from $112.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Bank of America dropped their price objective on shares of Voya Financial from $72.00 to $70.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. Royal Bank Of Canada lifted their price objective on Voya Financial from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, UBS Group upped their target price on Voya Financial from $95.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, July 10th. One equities 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 given a Sell rating to the company. Based on data from MarketBeat, Voya Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.15.

Voya Financial Company Profile

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.