Brokerages predict that Voya Financial Inc (NYSE:VOYA) will post earnings of $0.85 per share for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for Voya Financial’s earnings, with the highest EPS estimate coming in at $0.90 and the lowest estimate coming in at $0.79. Voya Financial posted earnings per share of $0.81 during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.9%. The business is expected to issue its next earnings report after the market closes on Tuesday, May 1st.
On average, analysts expect that Voya Financial will report full-year earnings of $4.22 per share for the current year, with EPS estimates ranging from $3.81 to $4.35. For the next fiscal year, analysts anticipate that the firm will post earnings of $5.25 per share, with EPS estimates ranging from $4.87 to $5.95. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow Voya Financial.
Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, February 13th. The asset manager reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.17. Voya Financial had a positive return on equity of 3.90% and a negative net margin of 31.38%. The company had revenue of $2.19 billion during the quarter.
VOYA has been the subject of a number of recent research reports. Deutsche Bank raised their price target on Voya Financial from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank of Canada reaffirmed a “buy” rating and set a $55.00 price target on shares of Voya Financial in a research note on Friday, December 22nd. Evercore ISI raised Voya Financial from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $47.00 to $60.00 in a research note on Thursday, December 21st. Bank of America initiated coverage on Voya Financial in a research note on Monday, March 26th. They set a “buy” rating and a $60.00 price target for the company. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $55.00 price target on shares of Voya Financial in a research note on Thursday, December 21st. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $57.75.
VOYA opened at $52.99 on Tuesday. Voya Financial has a fifty-two week low of $33.53 and a fifty-two week high of $54.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.18 and a quick ratio of 0.18. The stock has a market cap of $9,042.23, a PE ratio of 18.38, a PEG ratio of 0.79 and a beta of 1.53.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date was Tuesday, February 27th. Voya Financial’s dividend payout ratio is 1.33%.
Voya Financial declared that its Board of Directors has approved a share buyback plan on Tuesday, February 13th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
In other Voya Financial news, insider Kevin D. Silva sold 895 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $50.77, for a total value of $45,439.15. Following the sale, the insider now owns 9,299 shares of the company’s stock, valued at approximately $472,110.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin D. Silva sold 5,480 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $51.70, for a total value of $283,316.00. Following the completion of the sale, the insider now directly owns 14,577 shares in the company, valued at approximately $753,630.90. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Voya Financial by 1.8% in the 4th quarter. BlackRock Inc. now owns 10,571,994 shares of the asset manager’s stock valued at $522,996,000 after buying an additional 187,198 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Voya Financial by 2.2% in the 4th quarter. Acadian Asset Management LLC now owns 4,884,575 shares of the asset manager’s stock valued at $241,642,000 after buying an additional 105,752 shares during the last quarter. Millennium Management LLC grew its holdings in Voya Financial by 9.9% in the 4th quarter. Millennium Management LLC now owns 2,761,180 shares of the asset manager’s stock valued at $136,596,000 after buying an additional 248,160 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in Voya Financial by 470.8% in the 4th quarter. TIAA CREF Investment Management LLC now owns 2,000,123 shares of the asset manager’s stock valued at $98,946,000 after buying an additional 1,649,729 shares during the last quarter. Finally, Clearbridge LLC grew its holdings in Voya Financial by 27.2% in the 4th quarter. Clearbridge LLC now owns 1,289,706 shares of the asset manager’s stock valued at $63,802,000 after buying an additional 275,465 shares during the last quarter.
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Voya Financial Company Profile
Voya Financial, Inc operates as a retirement, investment, and insurance company in the United States. It operates through Retirement, Investment Management, Individual Life, and Employee Benefits segments. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual account rollover plans and other retail financial products, as well as financial planning and advisory services.
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