Voya Financial (NYSE:VOYA) Releases Earnings Results, Beats Expectations By $0.01 EPS

Voya Financial (NYSE:VOYA) issued its quarterly earnings data on Monday. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01, FiscalAI reports. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. Voya Financial had a net margin of 7.45% and a return on equity of 12.31%.

Voya Financial Price Performance

Shares of VOYA traded up $1.36 during trading hours on Monday, reaching $99.41. 1,257,300 shares of the stock traded hands, compared to its average volume of 1,101,003. The company has a market cap of $9.01 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $98.52 and its two-hundred day moving average price is $86.20. Voya Financial has a 52-week low of $64.50 and a 52-week high of $105.64.

Voya Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Tuesday, November 24th will be paid a dividend of $0.57 per share. This is a positive change from Voya Financial’s previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, November 24th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.3%. Voya Financial’s dividend payout ratio is presently 38.45%.

Analyst Upgrades and Downgrades

VOYA has been the topic of several analyst reports. Evercore reiterated an “outperform” rating and set a $111.00 target price on shares of Voya Financial in a research report on Friday, August 7th. Barclays upped their price target on Voya Financial from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Wells Fargo & Company decreased their price objective on Voya Financial from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Monday, October 12th. Royal Bank Of Canada lifted their price objective on Voya Financial from $107.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods downgraded Voya Financial from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $110.00 to $108.00 in a research note on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Voya Financial currently has an average rating of “Moderate Buy” and an average target price of $103.69.

Insider Transactions at Voya Financial

In other Voya Financial news, insider Trevor Ogle sold 2,093 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of $95.81, for a total value of $200,530.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.57% of the company’s stock.

About Voya Financial

Voya Financial, Inc is a U.S.-based financial services company that helps individuals, employers and institutions plan for retirement, manage investments and address employee benefit needs. Its businesses are organized primarily around Retirement, Employee Benefits and Investment Management.

Voya’s retirement business provides workplace retirement plans, including defined contribution and defined benefit solutions, as well as individual retirement products and advisory services. Its employee benefits operations offer products such as health, life, disability and supplemental insurance, along with benefits administration and related services for employers and their workers.

Through its investment management business, Voya provides institutional and individual investors with asset-management and advisory capabilities across a range of investment strategies.