Voya Financial (NYSE:VOYA) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Voya Financial (NYSE:VOYA) posted its quarterly earnings data on Monday. The asset manager reported $2.12 EPS for the quarter, topping the consensus estimate of $2.05 by $0.07, Briefing.com reports. Voya Financial had a return on equity of 15.50% and a net margin of 8.81%. The company 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 business earned $2.07 EPS. Voya Financial’s quarterly revenue was up 7.3% on a year-over-year basis.

Voya Financial Stock Performance

NYSE:VOYA traded up $7.97 during mid-day trading on Wednesday, reaching $82.93. 1,870,148 shares of the stock were exchanged, compared to its average volume of 823,097. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.51. Voya Financial has a 1 year low of $63.11 and a 1 year high of $83.93. The company has a 50 day simple moving average of $77.43 and a 200-day simple moving average of $73.46. The stock has a market capitalization of $8.15 billion, a P/E ratio of 11.94, a P/E/G ratio of 0.55 and a beta of 1.03.

Voya Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, November 26th will be given a $0.45 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.17%. Voya Financial’s dividend payout ratio (DPR) is presently 28.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Voya Financial from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Raymond James lowered Voya Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, September 13th. Jefferies Financial Group raised their price objective on shares of Voya Financial from $78.00 to $80.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Bank of America boosted their target price on shares of Voya Financial from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Morgan Stanley cut their price target on shares of Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.27.

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.