Voya Financial, Inc. (NYSE:VOYA) to Issue $0.45 Quarterly Dividend

Voya Financial, Inc. (NYSE:VOYA) announced a quarterly dividend on Thursday, October 31st, NASDAQ reports. Stockholders 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 annualized dividend and a dividend 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 payout ratio of 18.3% indicating that its dividend is sufficiently covered by earnings. 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 %

Shares of Voya Financial stock traded down $0.33 during trading on Friday, hitting $79.97. 696,344 shares of the company were exchanged, compared to its average volume of 810,091. The firm’s fifty day moving average price is $76.88 and its 200 day moving average price 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. The firm has a market capitalization of $7.86 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 0.56 and a beta of 1.03. Voya Financial has a 1-year low of $63.11 and a 1-year high of $83.93.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on VOYA shares. Evercore ISI increased their target price on shares of Voya Financial from $79.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Bank of America raised their target price on Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Raymond James lowered shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, September 13th. Wells Fargo & Company lifted their price target on shares of Voya Financial from $87.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Piper Sandler upped their target price 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. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.