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

Voya Financial, Inc. (NYSE:VOYA) declared a quarterly dividend on Thursday, October 31st,NASDAQ Dividends reports. Stockholders of record on Tuesday, November 26th will be paid a dividend of 0.45 per share by the asset manager on Thursday, December 26th. This represents a $1.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, November 26th.

Voya Financial has increased its dividend payment by an average of 26.0% per year over the last three years. Voya Financial has a payout ratio of 18.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Voya Financial to earn $9.91 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 18.2%.

Voya Financial Stock Up 1.2 %

Shares of VOYA stock opened at $81.68 on Monday. Voya Financial has a twelve month low of $63.11 and a twelve month high of $84.30. The stock has a market cap of $7.86 billion, a P/E ratio of 13.01, a P/E/G ratio of 0.57 and a beta of 1.03. The stock has a 50 day moving average of $80.06 and a 200 day moving average of $74.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54.

Voya Financial (NYSE:VOYA) last posted its earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.07. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the firm earned $2.07 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts expect that Voya Financial will post 8.4 EPS for the current year.

Insider Buying and Selling

In related news, insider Tony D. Oh sold 715 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

VOYA has been the topic of several recent analyst reports. Bank of America increased their target price on shares of Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada increased their price target on Voya Financial from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Evercore ISI boosted their price objective on Voya Financial from $79.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Barclays lifted their target price on shares of Voya Financial from $84.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Raymond James lowered shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, September 13th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Voya Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

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.