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

Voya Financial, Inc. (NYSE:VOYA) announced a quarterly dividend on Thursday, October 31st, NASDAQ reports. Investors 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 2.25%. The ex-dividend date of this dividend is Tuesday, November 26th.

Voya Financial has increased its dividend payment by an average of 26.0% per year over the last three years. Voya Financial has a dividend payout ratio of 18.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Voya Financial to earn $9.88 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 Down 0.4 %

NYSE:VOYA traded down $0.33 on Friday, reaching $79.97. The stock had a trading volume of 696,344 shares, compared to its average volume of 810,091. Voya Financial has a 12-month low of $63.11 and a 12-month high of $83.93. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 0.56 and a beta of 1.03. The firm’s fifty day moving average is $76.88 and its two-hundred day moving average is $73.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.30 and a quick ratio of 0.30.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Tuesday, July 30th. The asset manager reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.13. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.87 billion. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 earnings per share. Equities analysts expect that Voya Financial will post 8.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Raymond James lowered Voya Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, September 13th. Piper Sandler increased their price objective on shares of Voya Financial from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley cut their price target on shares of Voya Financial from $76.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Citigroup boosted their price objective on shares of Voya Financial from $86.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. lowered Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 target price on the stock. in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Voya Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.27.

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.