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

Voya Financial (NYSE:VOYA) announced its quarterly earnings data on Monday. The asset manager reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.07, Briefing.com reports. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.86 billion. Voya Financial had a return on equity of 15.50% and a net margin of 8.81%. Voya Financial’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.07 earnings per share.

Voya Financial Stock Up 10.6 %

Shares of NYSE VOYA opened at $82.93 on Thursday. The business has a 50-day moving average of $77.71 and a 200-day moving average of $73.53. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 13.21, a PEG 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 12 month low of $63.11 and a 12 month high of $83.93.

Voya Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, November 26th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $1.80 annualized dividend and a dividend yield of 2.17%. Voya Financial’s payout ratio is currently 28.66%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Raymond James downgraded Voya Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. lowered shares of Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 target price for the company. in a research report on Thursday, October 3rd. Barclays boosted their price target on shares of Voya Financial from $84.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Citigroup lifted their price objective on shares of Voya Financial from $86.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group increased their target price on Voya Financial from $78.00 to $80.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus 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.