Voya Financial Inc (NYSE:VOYA) declared a quarterly dividend on Thursday, April 26th, Wall Street Journal reports. Investors of record on Tuesday, May 29th will be paid a dividend of 0.01 per share by the asset manager on Thursday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.07%. The ex-dividend date is Friday, May 25th.
Voya Financial has a payout ratio of 1.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Voya Financial to earn $5.30 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 0.8%.
Shares of Voya Financial opened at $53.45 on Thursday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.17 and a quick ratio of 0.17. The company has a market cap of $9.11 billion, a P/E ratio of 17.76, a P/E/G ratio of 0.81 and a beta of 1.53. Voya Financial has a twelve month low of $33.53 and a twelve month high of $55.27.
Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Tuesday, May 1st. The asset manager reported $0.77 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.08). Voya Financial had a negative net margin of 25.86% and a positive return on equity of 4.01%. During the same period last year, the business earned $0.51 earnings per share. equities analysts predict that Voya Financial will post 4.23 earnings per share for the current year.
In other news, insider Kevin D. Silva sold 5,480 shares of Voya Financial stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $51.70, for a total value of $283,316.00. Following the sale, the insider now directly owns 14,577 shares of the company’s stock, valued at $753,630.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles P. Nelson purchased 13,900 shares of the stock in a transaction dated Wednesday, May 2nd. The stock was purchased at an average cost of $50.25 per share, for a total transaction of $698,475.00. Following the completion of the purchase, the insider now directly owns 45,382 shares of the company’s stock, valued at $2,280,445.50. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.
Voya Financial announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 13th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Several analysts have commented on the company. SunTrust Banks raised their price objective on Voya Financial to $54.00 and gave the company a “hold” rating in a report on Thursday, February 15th. Wells Fargo & Co set a $65.00 price objective on Voya Financial and gave the company a “buy” rating in a report on Wednesday, February 14th. ValuEngine lowered Voya Financial from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. Morgan Stanley raised their price objective on Voya Financial from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, May 2nd. Finally, Credit Suisse Group assumed coverage on Voya Financial in a report on Wednesday, April 25th. They issued an “outperform” rating and a $60.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $58.50.
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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