Brokerages expect that Voya Financial Inc (NYSE:VOYA) will announce sales of $262.66 million for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for Voya Financial’s earnings. The lowest sales estimate is $243.99 million and the highest is $282.83 million. Voya Financial reported sales of $303.20 million in the same quarter last year, which indicates a negative year over year growth rate of 13.4%. The business is expected to announce its next earnings results after the market closes on Tuesday, May 1st.
According to Zacks, analysts expect that Voya Financial will report full-year sales of $1.18 billion for the current financial year, with estimates ranging from $1.11 billion to $1.26 billion. For the next financial year, analysts expect that the firm will report sales of $1.25 billion per share, with estimates ranging from $1.15 billion to $1.32 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Voya Financial.
Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Tuesday, February 13th. The asset manager reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.17. Voya Financial had a positive return on equity of 3.90% and a negative net margin of 31.38%. The business had revenue of $2.19 billion for the quarter.
Several equities analysts have recently commented on the company. Deutsche Bank boosted their price objective on Voya Financial from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley lowered their price objective on Voya Financial from $61.00 to $59.00 and set an “overweight” rating on the stock in a research report on Thursday, April 5th. Bank of America assumed coverage on Voya Financial in a research report on Monday, March 26th. They issued a “buy” rating and a $60.00 price objective on the stock. UBS assumed coverage on Voya Financial in a research report on Friday, March 2nd. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, Wells Fargo set a $63.00 price objective on Voya Financial and gave the company a “buy” rating in a research report on Thursday, March 1st. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $57.75.
In other Voya Financial news, insider Kevin D. Silva sold 895 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $50.77, for a total transaction of $45,439.15. Following the sale, the insider now directly owns 9,299 shares in the company, valued at $472,110.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin D. Silva sold 5,480 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $51.70, for a total value of $283,316.00. Following the sale, the insider now owns 14,577 shares in the company, valued at $753,630.90. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of VOYA. TIAA CREF Investment Management LLC raised its position in Voya Financial by 470.8% during the fourth quarter. TIAA CREF Investment Management LLC now owns 2,000,123 shares of the asset manager’s stock valued at $98,946,000 after purchasing an additional 1,649,729 shares during the period. Teachers Advisors LLC raised its position in Voya Financial by 214.6% during the fourth quarter. Teachers Advisors LLC now owns 781,195 shares of the asset manager’s stock valued at $38,646,000 after purchasing an additional 532,904 shares during the period. Lomas Capital Management LLC purchased a new stake in Voya Financial during the fourth quarter valued at approximately $24,717,000. Prana Capital Management LP purchased a new stake in Voya Financial during the fourth quarter valued at approximately $24,064,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in Voya Financial during the fourth quarter valued at approximately $20,560,000.
Shares of Voya Financial stock opened at $52.57 on Thursday. Voya Financial has a 52 week low of $33.53 and a 52 week high of $54.87. The stock has a market capitalization of $8,944.19, a PE ratio of 17.47, a price-to-earnings-growth ratio of 0.78 and a beta of 1.53. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.45.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Investors of record on Wednesday, February 28th were given a $0.01 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.08%. Voya Financial’s dividend payout ratio is currently 1.33%.
Voya Financial announced that its board has approved a share repurchase program on Tuesday, February 13th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Voya Financial Company Profile
Voya Financial, Inc operates as a retirement, investment, and insurance company in the United States. It operates through Retirement, Investment Management, Individual Life, and Employee Benefits segments. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual account rollover plans and other retail financial products, as well as financial planning and advisory services.
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