Voya Financial (NYSE:VOYA) Releases Earnings Results, Beats Estimates By $0.01 EPS

Voya Financial (NYSE:VOYA) released its earnings results on Monday. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01, FiscalAI reports. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. Voya Financial had a net margin of 7.45% and a return on equity of 12.31%. Voya Financial’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.45 EPS.

Voya Financial Stock Performance

VOYA opened at $99.41 on Tuesday. Voya Financial has a 1-year low of $64.50 and a 1-year high of $105.64. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 0.98 and a beta of 0.90. The company’s fifty day moving average price is $98.55 and its two-hundred day moving average price is $86.32. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51.

Voya Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, November 24th will be issued a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 24th. This is a positive change from Voya Financial’s previous quarterly dividend of $0.47. This represents a $2.28 annualized dividend and a yield of 2.3%. Voya Financial’s dividend payout ratio is currently 31.70%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on VOYA shares. JPMorgan Chase & Co. decreased their price target on shares of Voya Financial from $109.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, October 15th. Barclays increased their price objective on shares of Voya Financial from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Wells Fargo & Company reduced their target price on Voya Financial from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Monday, October 12th. Evercore restated an “outperform” rating and issued a $111.00 target price on shares of Voya Financial in a research note on Friday, August 7th. Finally, Keefe, Bruyette & Woods lowered Voya Financial from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $110.00 to $108.00 in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.69.

Insider Activity

In other news, insider Trevor Ogle sold 2,093 shares of Voya Financial stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $95.81, for a total transaction of $200,530.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by corporate insiders.

Voya Financial Company Profile

Voya Financial, Inc is a U.S.-based financial services company that helps individuals, employers and institutions plan for retirement, manage investments and address employee benefit needs. Its businesses are organized primarily around Retirement, Employee Benefits and Investment Management.

Voya’s retirement business provides workplace retirement plans, including defined contribution and defined benefit solutions, as well as individual retirement products and advisory services. Its employee benefits operations offer products such as health, life, disability and supplemental insurance, along with benefits administration and related services for employers and their workers.

Through its investment management business, Voya provides institutional and individual investors with asset-management and advisory capabilities across a range of investment strategies.