Voya Financial, Inc. (VOYA) to Issue Quarterly Dividend of $0.45 on December 26th

Voya Financial, Inc. (NYSE:VOYA) declared a quarterly dividend on Thursday, October 31st, NASDAQ 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 2.25%. The ex-dividend date of this dividend is Tuesday, November 26th.

Voya Financial has raised its dividend by an average of 26.0% per year over the last three years. Voya Financial has a dividend payout ratio of 18.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Voya Financial to earn $9.88 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 Down 0.4 %

Shares of NYSE VOYA opened at $79.97 on Friday. The business has a 50-day simple moving average of $76.88 and a two-hundred day simple moving average of $73.17. Voya Financial has a 52 week low of $63.11 and a 52 week high of $83.93. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.51. The company has a market cap of $7.86 billion, a P/E ratio of 10.54, a P/E/G ratio of 0.56 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, July 30th. The asset manager reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.13. Voya Financial had a return on equity of 16.11% and a net margin of 10.87%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. Voya Financial’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts anticipate that Voya Financial will post 8.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VOYA has been the topic of a number of research analyst reports. Bank of America boosted their price target on Voya Financial from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Jefferies Financial Group raised their price target on shares of Voya Financial from $78.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Wells Fargo & Company boosted their target price on Voya Financial from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. downgraded Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price target on the stock. in a research note on Thursday, October 3rd. Finally, Barclays boosted their price target on Voya Financial from $84.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently 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.