Voya Financial (NYSE:VOYA) Announces Quarterly Earnings Results

Voya Financial (NYSE:VOYA) announced its earnings results on Tuesday. The asset manager reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.33, Zacks reports. Voya Financial had a return on equity of 13.72% and a net margin of 6.73%.

Voya Financial Trading Up 0.9%

Shares of Voya Financial stock traded up $0.66 on Tuesday, reaching $73.80. The company had a trading volume of 1,021,934 shares, compared to its average volume of 876,622. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 0.53 and a beta of 0.99. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.28 and a quick ratio of 0.28. The firm’s 50-day moving average price is $74.95 and its two-hundred day moving average price is $70.72. Voya Financial has a 1 year low of $52.43 and a 1 year high of $84.30.

Voya Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Wednesday, November 26th will be issued a $0.47 dividend. This is a positive change from Voya Financial’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, November 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.5%. Voya Financial’s dividend payout ratio (DPR) is presently 36.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on VOYA shares. Wells Fargo & Company lifted their price objective on Voya Financial from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Barclays lifted their price objective on Voya Financial from $81.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on Voya Financial from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, August 19th. UBS Group lifted their price objective on Voya Financial from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Evercore ISI lifted their target price on Voya Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, August 13th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Hedge Funds Weigh In On Voya Financial

A number of institutional investors and hedge funds have recently modified their holdings of VOYA. Ameriprise Financial Inc. boosted its holdings in shares of Voya Financial by 6.8% in the 2nd 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. Lighthouse Investment Partners LLC boosted its holdings in shares of Voya Financial by 2,539.8% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 176,626 shares of the asset manager’s stock worth $12,540,000 after purchasing an additional 169,935 shares during the period. Hudson Bay Capital Management LP purchased a new position in shares of Voya Financial in the 2nd quarter worth approximately $8,883,000. Canada Pension Plan Investment Board boosted its holdings in shares of Voya Financial by 132.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 106,200 shares of the asset manager’s stock worth $7,540,000 after purchasing an additional 60,500 shares during the period. Finally, Invesco Ltd. boosted its holdings in Voya Financial by 17.3% during the 2nd quarter. Invesco Ltd. now owns 379,895 shares of the asset manager’s stock valued at $26,973,000 after acquiring an additional 55,907 shares during the period. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Company Profile

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.