Voya Financial (NYSE:VOYA) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Voya Financial (NYSE:VOYA) issued its quarterly earnings data on Monday. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.01, FiscalAI reports. Voya Financial had a return on equity of 12.22% and a net margin of 7.75%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the firm posted $2.45 earnings per share. The business’s revenue was down 4.8% on a year-over-year basis.

Voya Financial Stock Performance

Shares of Voya Financial stock opened at $102.72 on Wednesday. The stock has a market cap of $9.31 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 1.01 and a beta of 0.85. The business has a fifty day simple moving average of $98.63 and a 200-day simple moving average of $86.44. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.51. Voya Financial has a 12 month low of $64.50 and a 12 month high of $105.64.

Voya Financial Increases Dividend

The firm also recently announced 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 is an increase from Voya Financial’s previous quarterly dividend of $0.47. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.2%. Voya Financial’s dividend payout ratio is currently 31.70%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on Voya Financial from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Monday, October 12th. Evercore reissued an “outperform” rating and issued a $111.00 price objective on shares of Voya Financial in a research note on Friday, August 7th. Keefe, Bruyette & Woods cut Voya Financial from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $110.00 to $108.00 in a research note on Friday, October 9th. Morgan Stanley boosted their target price on Voya Financial from $92.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. Finally, Atlantic Securities set a $79.00 target price on Voya Financial in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Voya Financial currently has an average rating of “Moderate Buy” and an average target price of $103.69.

Insider Transactions at Voya Financial

In other Voya Financial news, insider Trevor Ogle sold 2,093 shares of Voya Financial 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.57% of the company’s stock.

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.