Voya Financial (NYSE:VOYA) Posts Earnings Results, Beats Estimates By $0.24 EPS
by Jessica Moore · The Cerbat GemVoya Financial (NYSE:VOYA – Get Free Report) announced its earnings results on Tuesday. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.24, FiscalAI reports. Voya Financial had a return on equity of 13.96% and a net margin of 7.99%.The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.98 billion.
Voya Financial Price Performance
NYSE VOYA traded up $1.00 during mid-day trading on Tuesday, hitting $83.02. The stock had a trading volume of 1,951,334 shares, compared to its average volume of 1,124,766. The firm’s 50 day moving average is $70.69 and its 200 day moving average is $72.74. Voya Financial has a twelve month low of $59.90 and a twelve month high of $83.80. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.56 and a beta of 0.94.
Voya Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Tuesday, May 26th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, May 26th. Voya Financial’s dividend payout ratio is currently 29.89%.
Analysts Set New Price Targets
VOYA has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Voya Financial from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, April 10th. Bank of America decreased their target price on Voya Financial from $72.00 to $70.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods decreased their target price on Voya Financial from $82.00 to $81.00 and set an “outperform” rating on the stock in a research report on Friday, April 10th. Weiss Ratings upgraded Voya Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Finally, Royal Bank Of Canada increased their target price on Voya Financial from $85.00 to $87.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Voya Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.30.
Get Our Latest Stock Analysis on Voya Financial
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Voya Financial by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 4,492,908 shares of the asset manager’s stock valued at $334,677,000 after purchasing an additional 230,877 shares during the last quarter. Boston Partners raised its stake in Voya Financial by 1.8% in the 4th quarter. Boston Partners now owns 3,557,281 shares of the asset manager’s stock valued at $265,363,000 after purchasing an additional 61,962 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Voya Financial by 6.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,418,536 shares of the asset manager’s stock valued at $242,716,000 after purchasing an additional 219,130 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Voya Financial by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,450,741 shares of the asset manager’s stock valued at $182,558,000 after purchasing an additional 18,939 shares during the last quarter. Finally, Verdad Advisers LP acquired a new stake in shares of Voya Financial in the 4th quarter worth $148,980,000. 96.10% of the stock is owned by institutional investors and hedge funds.
About Voya Financial
Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.
Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.