Voya Financial (NYSE:VOYA) Issues Quarterly Earnings Results

Voya Financial (NYSE:VOYA) posted its quarterly earnings data on Monday. The asset manager reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.07, Briefing.com reports. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Voya Financial had a return on equity of 15.50% and a net margin of 8.81%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.07 EPS.

Voya Financial Price Performance

Shares of VOYA stock opened at $82.93 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.30. Voya Financial has a fifty-two week low of $63.11 and a fifty-two week high of $83.93. The firm has a market cap of $8.15 billion, a P/E ratio of 13.21, a P/E/G ratio of 0.55 and a beta of 1.03. The business’s 50 day moving average price is $77.71 and its 200-day moving average price is $73.53.

Voya Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Tuesday, November 26th. Voya Financial’s payout ratio is 28.66%.

Wall Street Analysts Forecast Growth

VOYA has been the subject of several research reports. Morgan Stanley cut 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. Jefferies Financial Group upped their price objective on shares of Voya Financial from $78.00 to $80.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Citigroup lifted their target price on shares of Voya Financial from $86.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler upped their price target on shares of Voya Financial from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada lifted their price objective on Voya Financial from $83.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.27.

About Voya Financial

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.