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

Voya Financial, Inc. (NYSE:VOYA) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Investors of record on Tuesday, February 25th will be given 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 yield of 2.54%. The ex-dividend date of this dividend is Tuesday, February 25th.

Voya Financial has increased 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% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

NYSE VOYA traded up $0.16 on Friday, reaching $70.95. 846,872 shares of the company’s stock traded hands, compared to its average volume of 720,428. 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 stock has a 50 day moving average price of $72.23 and a 200-day moving average price of $74.15. Voya Financial has a fifty-two week low of $63.11 and a fifty-two 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 released its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.07. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm earned $2.07 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts predict that Voya Financial will post 7.11 EPS for the current fiscal year.

Insider Transactions at Voya Financial

In related 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on VOYA. UBS Group upgraded shares of Voya Financial to a “strong-buy” rating in a research report on Monday, November 11th. Royal Bank of Canada cut their price objective on shares of Voya Financial from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $76.00 price objective (down previously from $87.00) on shares of Voya Financial in a report on Tuesday, January 14th. Barclays cut their price objective on shares of Voya Financial from $85.00 to $81.00 and set an “overweight” rating for the company in a report on Tuesday, December 10th. Finally, Piper Sandler cut their price objective on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Voya Financial has an average rating of “Moderate Buy” and a consensus 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.