Voya Financial (NYSE:VOYA) Releases Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Voya Financial (NYSE:VOYA) issued its quarterly earnings results on Tuesday. The asset manager reported $2.45 EPS for the quarter, topping the consensus estimate of $2.22 by $0.23, Zacks reports. Voya Financial had a net margin of 6.73% and a return on equity of 13.72%. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter last year, the company posted $2.12 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year.

Voya Financial Price Performance

Shares of NYSE:VOYA opened at $73.80 on Wednesday. The firm’s 50 day moving average is $74.91 and its two-hundred day moving average is $70.84. Voya Financial has a 52 week low of $52.43 and a 52 week high of $84.30. The firm has a market capitalization of $7.12 billion, a P/E ratio of 14.76, a PEG ratio of 0.52 and a beta of 0.99. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.44.

Voya Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Wednesday, November 26th will be paid a $0.47 dividend. The ex-dividend date is Wednesday, November 26th. This is an increase from Voya Financial’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a dividend yield of 2.5%. Voya Financial’s dividend payout ratio (DPR) is 36.00%.

Wall Street Analyst Weigh In

VOYA has been the topic of several research analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Voya Financial from $83.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Barclays increased their price objective on shares of Voya Financial from $81.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Voya Financial from $80.00 to $89.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Evercore ISI increased their price objective on shares of Voya Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 13th. Finally, UBS Group increased their price objective on shares of Voya Financial from $87.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Voya Financial has an average rating of “Moderate Buy” and an average price target of $85.00.

Institutional Investors Weigh In On Voya Financial

Large investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Voya Financial by 21.7% in the 1st quarter. Royal Bank of Canada now owns 84,715 shares of the asset manager’s stock worth $5,741,000 after purchasing an additional 15,091 shares during the period. Goldman Sachs Group Inc. boosted its stake in Voya Financial by 8.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 662,058 shares of the asset manager’s stock worth $44,861,000 after purchasing an additional 51,376 shares during the period. Empowered Funds LLC boosted its stake in Voya Financial by 13.5% in the 1st quarter. Empowered Funds LLC now owns 37,836 shares of the asset manager’s stock worth $2,564,000 after purchasing an additional 4,490 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Voya Financial by 1.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,144 shares of the asset manager’s stock worth $25,081,000 after purchasing an additional 6,127 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Voya Financial by 44.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock valued at $49,000 after buying an additional 223 shares during the period. Institutional investors and hedge funds own 96.10% of the company’s stock.

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.