Voya Financial, Inc. (VOYA) to Issue Quarterly Dividend of $0.40 on June 26th

Voya Financial, Inc. (NYSE:VOYA) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Tuesday, May 28th will be paid a dividend of 0.40 per share by the asset manager on Wednesday, June 26th. This represents a $1.60 annualized dividend and a yield of 2.33%. The ex-dividend date is Tuesday, May 28th.

Voya Financial has increased its dividend by an average of 26.0% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Voya Financial has a payout ratio of 16.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Voya Financial to earn $9.52 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 16.8%.

Voya Financial Price Performance

NYSE VOYA traded down $1.05 on Thursday, hitting $68.54. 75,682 shares of the company were exchanged, compared to its average volume of 873,944. The firm has a 50 day moving average of $69.73 and a two-hundred day moving average of $70.30. The company has a market cap of $6.95 billion, a P/E ratio of 12.81, a P/E/G ratio of 0.46 and a beta of 1.06. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.55. Voya Financial has a 1-year low of $63.02 and a 1-year high of $77.28.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, February 6th. The asset manager reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.02. The business had revenue of $236.00 million for the quarter, compared to the consensus estimate of $304.66 million. Voya Financial had a net margin of 8.51% and a return on equity of 16.60%. On average, equities analysts predict that Voya Financial will post 8.42 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on VOYA shares. Morgan Stanley dropped their price objective on Voya Financial from $79.00 to $78.00 and set an “overweight” rating for the company in a report on Friday, March 1st. Royal Bank of Canada lowered their price target on Voya Financial from $85.00 to $83.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Piper Sandler upped their price target on Voya Financial from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. StockNews.com raised Voya Financial from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. Finally, Wells Fargo & Company upped their price target on Voya Financial from $85.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.50.

About Voya Financial

Voya Financial, Inc engages in the provision of workplace benefits and savings products in the United States and internationally. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees.