Voya Financial (NYSE:VOYA) Issues Quarterly Earnings Results

Voya Financial (NYSE:VOYA) issued its quarterly earnings results on Tuesday. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.47), FiscalAI reports. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.90 billion. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.

Voya Financial Stock Performance

NYSE:VOYA traded up $0.84 during trading hours on Tuesday, reaching $100.91. The company had a trading volume of 1,054,504 shares, compared to its average volume of 1,136,584. The firm has a market cap of $9.15 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 0.92 and a beta of 0.89. Voya Financial has a 1-year low of $64.50 and a 1-year high of $103.85. The business’s 50 day moving average price is $92.56 and its 200-day moving average price is $80.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.27 and a quick ratio of 0.27.

Voya Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Wednesday, August 26th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $1.88 dividend on an annualized basis and a yield of 1.9%. Voya Financial’s payout ratio is presently 28.40%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. TD Cowen lifted their target price on Voya Financial from $112.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Raymond James Financial raised Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 price target for the company in a research report on Monday, June 8th. Weiss Ratings upgraded shares of Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 5th. Royal Bank Of Canada raised their price objective on Voya Financial from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Voya Financial from $88.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.15.

Insider Transactions at Voya Financial

In other Voya Financial news, insider Trevor Ogle sold 3,994 shares of Voya Financial stock in a transaction on Monday, June 8th. The shares were sold at an average price of $90.00, for a total value of $359,460.00. Following the completion of the transaction, the insider owned 2,887 shares of the company’s stock, valued at approximately $259,830. The trade was a 58.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP grew its position in shares of Voya Financial by 75.5% in the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 151 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in Voya Financial during the 4th quarter worth $28,000. EverSource Wealth Advisors LLC lifted its stake in shares of Voya Financial by 625.0% in the second quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager’s stock worth $39,000 after buying an additional 475 shares in the last quarter. Fulcrum Asset Management LLP purchased a new stake in Voya Financial during the 3rd quarter valued at about $42,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Voya Financial during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

About Voya Financial

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.