Voya Financial (VOYA) Trading Up 6.6% on Strong Earnings

Voya Financial Inc (NYSE:VOYA) shares were up 6.6% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $51.51 and last traded at $51.19. Approximately 4,080,981 shares changed hands during mid-day trading, an increase of 67% from the average daily volume of 2,441,903 shares. The stock had previously closed at $48.02.

The asset manager reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.17. Voya Financial had a negative net margin of 3.64% and a positive return on equity of 3.92%. The firm had revenue of $2.19 billion during the quarter.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, February 28th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, February 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.08%. Voya Financial’s dividend payout ratio (DPR) is presently -2.23%.

Several research analysts recently weighed in on VOYA shares. Sandler O’Neill upgraded shares of Voya Financial from a “hold” rating to a “buy” rating in a research report on Monday, November 13th. Royal Bank of Canada restated a “buy” rating and set a $55.00 price target on shares of Voya Financial in a research report on Friday, December 22nd. Evercore ISI upgraded shares of Voya Financial from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $47.00 to $60.00 in a research report on Thursday, December 21st. Keefe, Bruyette & Woods restated a “buy” rating and set a $55.00 price target on shares of Voya Financial in a research report on Thursday, December 21st. Finally, Goldman Sachs Group started coverage on shares of Voya Financial in a research report on Wednesday, October 18th. They set a “buy” rating and a $46.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $52.82.

A number of hedge funds and other institutional investors have recently made changes to their positions in VOYA. Lomas Capital Management LLC purchased a new stake in Voya Financial during the 4th quarter valued at about $24,717,000. Amundi Pioneer Asset Management Inc. purchased a new stake in Voya Financial during the 4th quarter valued at about $20,560,000. Alyeska Investment Group L.P. grew its stake in Voya Financial by 956.5% during the 3rd quarter. Alyeska Investment Group L.P. now owns 369,607 shares of the asset manager’s stock valued at $14,744,000 after acquiring an additional 334,624 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Voya Financial by 56.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 910,216 shares of the asset manager’s stock valued at $45,030,000 after acquiring an additional 327,578 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Voya Financial by 5.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,435,846 shares of the asset manager’s stock valued at $256,727,000 after acquiring an additional 323,678 shares in the last quarter. 96.18% of the stock is owned by institutional investors.

The firm has a market cap of $8,640.43, a P/E ratio of -26.83, a PEG ratio of 0.61 and a beta of 1.61. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.44.

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Voya Financial Company Profile

Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.

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