Voya Financial, Inc. Declares Quarterly Dividend of $0.47 (NYSE:VOYA)

Voya Financial, Inc. (NYSE:VOYA) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Wednesday, August 26th will be given a dividend of 0.47 per share by the asset manager on Monday, September 28th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, August 26th.

Voya Financial has raised its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Voya Financial has a payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Voya Financial to earn $11.27 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 16.7%.

Voya Financial Stock Performance

Shares of VOYA opened at $100.36 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 0.91 and a beta of 0.91. Voya Financial has a 52-week low of $64.50 and a 52-week high of $103.85. The stock’s 50-day simple moving average is $91.86 and its 200 day simple moving average is $80.11.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.24. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.98 billion. Voya Financial had a net margin of 8.24% and a return on equity of 13.84%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 earnings per share. Research analysts forecast that Voya Financial will post 9.32 EPS for the current fiscal year.

Insider Transactions at Voya Financial

In related news, insider Trevor Ogle sold 3,994 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $90.00, for a total transaction of $359,460.00. Following the completion of the transaction, the insider owned 2,887 shares in the company, valued at $259,830. This represents a 58.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Voya Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its position in shares of Voya Financial by 21.7% during the first quarter. Royal Bank of Canada now owns 84,715 shares of the asset manager’s stock valued at $5,741,000 after buying an additional 15,091 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Voya Financial by 8.4% in the first quarter. Goldman Sachs Group Inc. now owns 662,058 shares of the asset manager’s stock worth $44,861,000 after buying an additional 51,376 shares during the period. Empowered Funds LLC boosted its position in Voya Financial by 13.5% during the 1st quarter. Empowered Funds LLC now owns 37,836 shares of the asset manager’s stock valued at $2,564,000 after acquiring an additional 4,490 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Voya Financial by 1.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,144 shares of the asset manager’s stock valued at $25,081,000 after acquiring an additional 6,127 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Voya Financial by 44.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock worth $49,000 after acquiring an additional 223 shares during the period. 96.10% of the stock is owned by hedge funds and other institutional investors.

About Voya Financial

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.