Voya Financial (NYSE:VOYA) Posts Earnings Results, Beats Estimates By $0.07 EPS

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

Voya Financial Trading Down 5.1 %

Shares of VOYA opened at $74.98 on Wednesday. The company’s fifty day simple moving average is $77.43 and its 200-day simple moving average is $73.46. The company has a market cap of $7.37 billion, a P/E ratio of 11.94, a P/E/G ratio of 0.55 and a beta of 1.03. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. Voya Financial has a twelve month low of $63.11 and a twelve month high of $83.93.

Voya Financial Announces Dividend

The company also recently disclosed 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 2.40%. The ex-dividend date of this dividend is Tuesday, November 26th. Voya Financial’s dividend payout ratio (DPR) is 28.66%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. cut Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price objective on the stock. in a research note on Thursday, October 3rd. Bank of America raised their price target on Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Piper Sandler increased their price objective on Voya Financial from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada lifted their target price on shares of Voya Financial from $83.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Finally, Citigroup increased their price target on shares of Voya Financial from $86.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.27.

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.