Voya Financial (NYSE:VOYA) Issues Quarterly Earnings Results

Voya Financial (NYSE:VOYA) posted its quarterly earnings results on Tuesday. The asset manager reported $1.94 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.17), FiscalAI reports. Voya Financial had a net margin of 7.55% and a return on equity of 13.89%. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter last year, the firm earned $1.40 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year.

Voya Financial Stock Down 2.6%

NYSE VOYA opened at $75.41 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.42. Voya Financial has a fifty-two week low of $52.43 and a fifty-two week high of $79.99. The business has a 50 day moving average price of $74.75 and a two-hundred day moving average price of $73.90. The stock has a market cap of $7.18 billion, a PE ratio of 12.96, a P/E/G ratio of 0.48 and a beta of 0.89.

Voya Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Wednesday, February 25th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, February 25th. Voya Financial’s dividend payout ratio is currently 32.30%.

Analysts Set New Price Targets

VOYA has been the topic of a number of research analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of Voya Financial in a report on Thursday, January 22nd. Royal Bank Of Canada reduced their target price on Voya Financial from $87.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Barclays upgraded Voya Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $83.00 to $93.00 in a research note on Thursday, January 8th. Wall Street Zen lowered Voya Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Keefe, Bruyette & Woods decreased their target price on Voya Financial from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Voya Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.33.

Institutional Investors Weigh In On Voya Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in Voya Financial by 135.7% during the third quarter. Millennium Management LLC now owns 1,084,747 shares of the asset manager’s stock valued at $81,139,000 after buying an additional 624,436 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Voya Financial by 63.0% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,431,835 shares of the asset manager’s stock valued at $107,101,000 after acquiring an additional 553,675 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Voya Financial by 11.6% in the third quarter. Wellington Management Group LLP now owns 4,262,031 shares of the asset manager’s stock worth $318,800,000 after purchasing an additional 444,059 shares during the period. Ameriprise Financial Inc. boosted its holdings in Voya Financial by 6.8% in the second quarter. Ameriprise Financial Inc. now owns 3,418,536 shares of the asset manager’s stock worth $242,716,000 after purchasing an additional 219,130 shares during the period. Finally, Lighthouse Investment Partners LLC increased its stake in Voya Financial by 2,539.8% during the second quarter. Lighthouse Investment Partners LLC now owns 176,626 shares of the asset manager’s stock valued at $12,540,000 after purchasing an additional 169,935 shares during the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Company Profile

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.