Voya Financial, Inc. (NYSE:VOYA) Declares $0.40 Quarterly Dividend

Voya Financial, Inc. (NYSE:VOYA) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Tuesday, May 28th will be paid a dividend of 0.40 per share by the asset manager on Wednesday, June 26th. This represents a $1.60 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Tuesday, May 28th.

Voya Financial has increased its dividend by an average of 26.0% annually over the last three years and has raised its dividend every year for the last 1 years. Voya Financial has a dividend payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Voya Financial to earn $9.52 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 16.8%.

Voya Financial Trading Down 1.5 %

NYSE:VOYA traded down $1.05 during midday trading on Thursday, hitting $68.54. The stock had a trading volume of 75,682 shares, compared to its average volume of 873,944. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 0.46 and a beta of 1.06. The stock has a 50-day moving average of $69.73 and a 200 day moving average of $70.30. Voya Financial has a one year low of $63.02 and a one year high of $77.28.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, February 6th. The asset manager reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.02. The firm had revenue of $236.00 million during the quarter, compared to analysts’ expectations of $304.66 million. Voya Financial had a return on equity of 16.60% and a net margin of 8.51%. As a group, sell-side analysts forecast that Voya Financial will post 8.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Piper Sandler lifted their price objective on Voya Financial from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Evercore ISI lifted their price objective on Voya Financial from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. StockNews.com upgraded Voya Financial from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Royal Bank of Canada lowered their target price on Voya Financial from $85.00 to $83.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Finally, Morgan Stanley reduced their price target on shares of Voya Financial from $79.00 to $78.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.50.

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.