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

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 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, February 25th.

Voya Financial has raised its dividend payment 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 research 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 Trading Up 0.2 %

Shares of NYSE VOYA traded up $0.16 during trading hours on Friday, reaching $70.95. The stock had a trading volume of 846,872 shares, compared to its average volume of 720,429. Voya Financial has a 52-week low of $63.11 and a 52-week high of $84.30. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 0.50 and a beta of 1.05. The business’s fifty day moving average price is $72.23 and its two-hundred day moving average price is $74.15. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.07. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.86 billion. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.07 EPS. Analysts expect that Voya Financial will post 7.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VOYA shares. Keefe, Bruyette & Woods lowered their price target on shares of Voya Financial from $92.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Piper Sandler lowered their target price on Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. UBS Group upgraded Voya Financial to a “strong-buy” rating in a report on Monday, November 11th. Barclays decreased their price objective on Voya Financial from $85.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $76.00 target price (down from $87.00) on shares of Voya Financial in a report on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.73.

Insider Activity at Voya Financial

In other Voya Financial news, insider Tony D. Oh sold 715 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total transaction of $58,594.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.37% of the stock is currently owned by insiders.

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.