Voya Financial, Inc. (NYSE:VOYA) Plans $0.45 Quarterly Dividend

Voya Financial, Inc. (NYSE:VOYA) declared a quarterly dividend on Thursday, January 30th, Wall Street Journal reports. Shareholders of record on Tuesday, February 25th will be given a dividend of 0.45 per share by the asset manager on Thursday, March 27th. This represents a $1.80 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Tuesday, February 25th.

Voya Financial has increased its dividend by an average of 34.7% annually over the last three years. Voya Financial has a payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Voya Financial to earn $10.28 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 17.5%.

Voya Financial Stock Performance

NYSE:VOYA opened at $71.97 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $70.10 and a two-hundred day moving average price of $74.32. Voya Financial has a twelve month low of $64.10 and a twelve month high of $84.30. The company has a market capitalization of $6.92 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 0.48 and a beta of 1.05.

Voya Financial (NYSE:VOYA) last posted its earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. As a group, research analysts expect that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on VOYA shares. Keefe, Bruyette & Woods lowered their price target on shares of Voya Financial from $90.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. UBS Group upgraded shares of Voya Financial to a “strong-buy” rating in a report on Monday, November 11th. Piper Sandler lowered their price target on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Wells Fargo & Company lifted their price target on shares of Voya Financial from $76.00 to $79.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Voya Financial from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Voya Financial presently has an average rating of “Moderate Buy” and a consensus target price of $82.55.

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.