Voya Financial, Inc. (NYSE:VOYA) to Issue Quarterly Dividend of $0.45

Voya Financial, Inc. (NYSE:VOYA) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Stockholders of record on Tuesday, February 25th will be paid a dividend of 0.45 per share by the asset manager on Thursday, March 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Tuesday, February 25th.

Voya Financial has increased its dividend payment by an average of 34.7% per year over the last three years. Voya Financial has a payout ratio of 16.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Voya Financial to earn $9.01 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 20.0%.

Voya Financial Price Performance

Shares of Voya Financial stock traded up $0.16 during trading on Friday, reaching $70.95. 846,872 shares of the stock traded hands, compared to its average volume of 720,428. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 0.50 and a beta of 1.05. The business has a fifty day simple moving average of $72.23 and a two-hundred day simple moving average of $74.15. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.31 and a quick ratio of 0.31. Voya Financial has a 52-week low of $63.11 and a 52-week high of $84.30.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.07. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.86 billion. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 earnings per share. Sell-side analysts expect that Voya Financial will post 7.11 EPS for the current year.

Insider Transactions at Voya Financial

In related news, insider Tony D. Oh sold 715 shares of Voya Financial stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total transaction of $58,594.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VOYA. UBS Group raised shares of Voya Financial to a “strong-buy” rating in a report on Monday, November 11th. 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. Evercore ISI lowered their price target on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a report on Tuesday, December 10th. Barclays lowered their price target on shares of Voya Financial from $85.00 to $81.00 and set an “overweight” rating for the company in a report on Tuesday, December 10th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $76.00 price objective (down previously from $87.00) on shares of Voya Financial in a research note on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.73.

About Voya Financial

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.