Voya Financial (NYSE:VOYA) Announces Earnings Results

Voya Financial (NYSE:VOYA) issued its quarterly earnings results on Tuesday. The asset manager reported $1.50 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.65), Zacks reports. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%.

Voya Financial Stock Performance

NYSE:VOYA traded down $0.64 during trading hours on Tuesday, reaching $68.28. The stock had a trading volume of 1,444,155 shares, compared to its average volume of 750,920. The stock has a market cap of $6.57 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 0.49 and a beta of 1.05. Voya Financial has a 12-month low of $63.11 and a 12-month high of $84.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a 50 day simple moving average of $71.74 and a 200 day simple moving average of $74.13.

Voya Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, February 25th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Tuesday, February 25th. Voya Financial’s dividend payout ratio is currently 28.66%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VOYA. Bank of America reissued a “neutral” rating and issued a $83.00 price target (down previously from $91.00) on shares of Voya Financial in a research note on Wednesday, December 11th. Piper Sandler decreased their price target on Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company reissued an “equal weight” rating and issued a $76.00 price target (down previously from $87.00) on shares of Voya Financial in a research note on Tuesday, January 14th. Royal Bank of Canada cut their target price on Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Barclays cut their target price on Voya Financial from $85.00 to $81.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Voya Financial currently has an average rating of “Moderate Buy” and a consensus price target of $83.27.

Insider Activity

In other news, insider Tony D. Oh sold 715 shares of Voya Financial stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total value of $58,594.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.37% of the stock is owned by company insiders.

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.