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

Voya Financial, Inc. (NYSE:VOYA) declared a quarterly dividend on Thursday, October 31st,NASDAQ Dividends reports. Shareholders of record on Tuesday, November 26th will be given a dividend of 0.45 per share by the asset manager on Thursday, December 26th. This represents a $1.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Tuesday, November 26th.

Voya Financial has raised its dividend by an average of 26.0% annually over the last three years. Voya Financial has a payout ratio of 18.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Voya Financial to earn $9.91 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 18.2%.

Voya Financial Trading Up 1.2 %

Shares of Voya Financial stock opened at $81.68 on Friday. The firm has a 50-day moving average of $80.06 and a 200-day moving average of $74.49. The stock has a market cap of $7.86 billion, a PE ratio of 13.01, a PEG ratio of 0.58 and a beta of 1.03. 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 quick ratio of 0.31 and a current ratio of 0.31.

Voya Financial (NYSE:VOYA) last announced its earnings results 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 company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. Voya Financial’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.07 earnings per share. As a group, sell-side analysts forecast that Voya Financial will post 8.4 EPS for the current year.

Insider Activity

In other Voya Financial news, insider Tony D. Oh sold 715 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 Securities & Exchange Commission, which is accessible through this link. 1.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on VOYA shares. Royal Bank of Canada upped their price objective on shares of Voya Financial from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. cut shares of Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price objective for the company. in a research report on Thursday, October 3rd. Evercore ISI upped their price objective on shares of Voya Financial from $79.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Morgan Stanley lowered their target price on Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Finally, Bank of America boosted their target price on Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Voya Financial currently has an average rating of “Moderate Buy” and an average price target of $86.00.

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.