Voya Financial (NYSE:VOYA) Announces Quarterly Earnings Results

Voya Financial (NYSE:VOYA) issued its earnings results on Monday. The asset manager reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01, FiscalAI reports. Voya Financial had a return on equity of 12.31% and a net margin of 7.45%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion.

Voya Financial Stock Up 1.4%

Shares of VOYA traded up $1.36 during trading hours on Monday, hitting $99.41. The company had a trading volume of 1,257,300 shares, compared to its average volume of 1,101,003. The company has a market capitalization of $9.01 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51. Voya Financial has a one year low of $64.50 and a one year high of $105.64. The company’s fifty day moving average price is $98.52 and its two-hundred day moving average price is $86.20.

Voya Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Tuesday, November 24th will be issued a $0.57 dividend. The ex-dividend date is Tuesday, November 24th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Voya Financial’s previous quarterly dividend of $0.47. Voya Financial’s dividend payout ratio (DPR) is 38.45%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on VOYA shares. JPMorgan Chase & Co. dropped their price target on Voya Financial from $109.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, October 15th. TD Cowen lifted their price objective on Voya Financial from $112.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. UBS Group upped their price objective on shares of Voya Financial from $125.00 to $127.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Weiss Ratings upgraded shares of Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 29th. Finally, Evercore reissued an “outperform” rating and set a $111.00 target price on shares of Voya Financial in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Voya Financial presently has an average rating of “Moderate Buy” and a consensus price target of $103.69.

Insider Buying and Selling at Voya Financial

In related news, insider Trevor Ogle sold 2,093 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $95.81, for a total transaction of $200,530.33. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by company insiders.

Voya Financial Company Profile

Voya Financial, Inc is a U.S.-based financial services company that helps individuals, employers and institutions plan for retirement, manage investments and address employee benefit needs. Its businesses are organized primarily around Retirement, Employee Benefits and Investment Management.

Voya’s retirement business provides workplace retirement plans, including defined contribution and defined benefit solutions, as well as individual retirement products and advisory services. Its employee benefits operations offer products such as health, life, disability and supplemental insurance, along with benefits administration and related services for employers and their workers.

Through its investment management business, Voya provides institutional and individual investors with asset-management and advisory capabilities across a range of investment strategies.