Voya Financial (NYSE:VOYA) Posts Quarterly Earnings Results, Misses Expectations By $0.47 EPS

Voya Financial (NYSE:VOYA) released its earnings results on Tuesday. The asset manager reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.47), FiscalAI reports. Voya Financial had a net margin of 7.45% and a return on equity of 12.17%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the business posted $1.66 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis.

Voya Financial Trading Up 0.6%

Shares of Voya Financial stock traded up $0.63 during trading hours on Thursday, hitting $100.74. The company’s stock had a trading volume of 594,376 shares, compared to its average volume of 1,139,691. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.27 and a current ratio of 0.27. Voya Financial has a twelve month low of $64.50 and a twelve month high of $103.85. The firm has a fifty day moving average of $93.31 and a 200-day moving average of $80.75. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 0.93 and a beta of 0.89.

Voya Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Wednesday, August 26th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, August 26th. Voya Financial’s dividend payout ratio is presently 28.40%.

Insiders Place Their Bets

In other Voya Financial news, insider Trevor Ogle sold 3,994 shares of the stock in a transaction 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 transaction, the insider owned 2,887 shares of the company’s stock, valued at $259,830. This represents a 58.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On Voya Financial

Several institutional investors have recently bought and sold shares of the business. Allworth Financial LP raised its stake in shares of Voya Financial by 75.5% during the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 151 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in Voya Financial in the 4th quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its holdings in shares of Voya Financial by 625.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager’s stock worth $39,000 after acquiring an additional 475 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in Voya Financial during the 3rd quarter valued at $42,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Voya Financial during the fourth quarter worth approximately $44,000. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays upped their target price on Voya Financial from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Morgan Stanley increased their target price on Voya Financial from $84.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Keefe, Bruyette & Woods boosted their price objective on Voya Financial from $92.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Atlantic Securities set a $79.00 target price on Voya Financial in a report on Wednesday, July 15th. Finally, Wells Fargo & Company boosted their price target on Voya Financial from $89.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Voya Financial has an average rating of “Moderate Buy” and a consensus price target of $100.15.

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.