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. Shareholders 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 yield of 2.25%. The ex-dividend date of this dividend is Tuesday, November 26th.

Voya Financial has increased its dividend by an average of 26.0% per year over the last three years. Voya Financial has a dividend payout ratio of 18.3% indicating that its dividend is sufficiently covered by earnings. Research 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 NYSE:VOYA traded down $0.33 during mid-day trading on Friday, reaching $79.97. 696,344 shares of the company were exchanged, compared to its average volume of 810,091. Voya Financial has a 1 year low of $63.11 and a 1 year high of $83.93. 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’s 50-day simple moving average is $76.88 and its 200 day simple moving average is $73.17. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 0.56 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, July 30th. The asset manager reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.13. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.87 billion. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.31 earnings per share. Equities research analysts forecast that Voya Financial will post 8.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VOYA. Raymond James downgraded shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. cut shares of Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price objective for the company. in a research report on Thursday, October 3rd. Wells Fargo & Company increased their target price on Voya Financial from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Barclays lifted their price target on Voya Financial from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Evercore ISI increased their price objective on Voya Financial from $79.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.