Voya Financial Inc (NYSE:VOYA) declared a quarterly dividend on Monday, February 5th, Wall Street Journal reports. Investors of record on Wednesday, February 28th will be given a dividend of 0.01 per share by the asset manager on Wednesday, March 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date is Tuesday, February 27th.
Voya Financial has a dividend payout ratio of 1.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Voya Financial to earn $5.33 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 0.8%.
Shares of Voya Financial (NYSE VOYA) opened at $50.52 on Thursday. Voya Financial has a 1-year low of $33.53 and a 1-year high of $54.87. The firm has a market capitalization of $9,066.43, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 0.64 and a beta of 1.61. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.14.
Voya Financial announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 13th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
Several equities research analysts have weighed in on VOYA shares. Sandler O’Neill upgraded Voya Financial from a “hold” rating to a “buy” rating in a report on Monday, November 13th. Royal Bank of Canada reiterated a “buy” rating and issued a $55.00 target price on shares of Voya Financial in a report on Friday, December 22nd. Evercore ISI upgraded Voya Financial from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $47.00 to $60.00 in a report on Thursday, December 21st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $55.00 target price on shares of Voya Financial in a report on Thursday, December 21st. Finally, BTIG Research reiterated a “buy” rating and issued a $59.00 target price on shares of Voya Financial in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $54.00.
About Voya Financial
Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.
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