Voya Financial, Inc. (NYSE:VOYA) Announces $0.40 Quarterly Dividend

Voya Financial, Inc. (NYSE:VOYA) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Tuesday, May 28th will be given a dividend of 0.40 per share by the asset manager on Wednesday, June 26th. This represents a $1.60 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Tuesday, May 28th.

Voya Financial has raised its dividend payment by an average of 26.0% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Voya Financial has a dividend payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Voya Financial to earn $9.52 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 16.8%.

Voya Financial Stock Down 1.3 %

NYSE:VOYA traded down $0.88 on Thursday, hitting $68.71. 26,518 shares of the company’s stock were exchanged, compared to its average volume of 873,592. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a 50-day moving average price of $69.73 and a 200-day moving average price of $70.30. The company has a market cap of $6.96 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 0.46 and a beta of 1.06. Voya Financial has a 52 week low of $63.02 and a 52 week high of $77.28.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Tuesday, February 6th. The asset manager reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. Voya Financial had a net margin of 8.51% and a return on equity of 16.60%. The business had revenue of $236.00 million for the quarter, compared to analyst estimates of $304.66 million. As a group, analysts expect that Voya Financial will post 8.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VOYA. The Goldman Sachs Group reissued a “neutral” rating and set a $82.00 price objective on shares of Voya Financial in a research report on Monday, January 8th. Evercore ISI upped their target price on shares of Voya Financial from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. StockNews.com upgraded shares of Voya Financial from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Royal Bank of Canada lowered their target price on shares of Voya Financial from $85.00 to $83.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Finally, Morgan Stanley lowered their target price on shares of Voya Financial from $79.00 to $78.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Voya Financial currently has a consensus rating of “Moderate Buy” and an average target price of $82.50.

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.