Voya Financial, Inc. Declares Quarterly Dividend of $0.45 (NYSE:VOYA)

Voya Financial, Inc. (NYSE:VOYA) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Tuesday, February 25th will be paid a dividend of 0.45 per share by the asset manager on Thursday, March 27th. This represents a $1.80 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, February 25th.

Voya Financial has increased its dividend by an average of 34.7% per year over the last three years. Voya Financial has a payout ratio of 16.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Voya Financial to earn $9.01 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 20.0%.

Voya Financial Price Performance

Shares of NYSE:VOYA traded up $0.16 during trading on Friday, hitting $70.95. 846,872 shares of the company’s stock were exchanged, compared to its average volume of 720,429. The business’s 50-day simple moving average is $72.23 and its 200 day simple moving average is $74.15. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 0.50 and a beta of 1.05. Voya Financial has a 52-week low of $63.11 and a 52-week high of $84.30. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.31 and a quick ratio of 0.31.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.07. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.86 billion. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $2.07 EPS. As a group, equities analysts predict that Voya Financial will post 7.11 EPS for the current year.

Insider Buying and Selling at Voya Financial

In other Voya Financial news, insider Tony D. Oh sold 715 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total value of $58,594.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Evercore ISI reduced their price target on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a report on Tuesday, December 10th. Barclays decreased their target price on Voya Financial from $85.00 to $81.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 10th. Piper Sandler cut their price target on Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Bank of America reaffirmed a “neutral” rating and set a $83.00 price objective (down from $91.00) on shares of Voya Financial in a report on Wednesday, December 11th. Finally, UBS Group upgraded Voya Financial to a “strong-buy” rating in a research report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.73.

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.