Voya Financial, Inc. (NYSE:VOYA) Announces Quarterly Dividend of $0.57

Voya Financial, Inc. (NYSE:VOYA) announced a quarterly dividend on Thursday, October 29th. Investors of record on Tuesday, November 24th will be paid a dividend of $0.57 per share by the asset manager on Tuesday, December 29th. This represents a $2.28 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, November 24th. This is a 21.3% increase from Voya Financial’s previous quarterly dividend of $0.47.

Voya Financial has raised its dividend by an average of 0.2% annually over the last three years and has increased its dividend every year for the last 6 years. Voya Financial has a payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Voya Financial to earn $11.34 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 16.6%.

Voya Financial Stock Performance

Shares of Voya Financial stock opened at $98.42 on Friday. Voya Financial has a 52 week low of $64.50 and a 52 week high of $105.64. The firm has a fifty day moving average of $98.51 and a two-hundred day moving average of $86.10. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 0.98 and a beta of 0.90.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, August 4th. The asset manager reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.47). Voya Financial had a return on equity of 12.31% and a net margin of 7.45%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the business earned $1.66 EPS. The firm’s revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts predict that Voya Financial will post 9.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada raised their price target on Voya Financial from $107.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. UBS Group increased their target price on 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. TD Cowen lifted their price target on shares of Voya Financial from $112.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Jefferies Financial Group lifted their price target on shares of Voya Financial from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.69.

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.