Voya Financial (NYSE:VOYA) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Voya Financial beat earnings expectations, reporting quarterly EPS of $2.60 versus the $2.59 consensus estimate. Revenue totaled $1.94 billion, slightly below the expected $1.96 billion.
• Shares rose 1.4% to $99.41 during Monday trading, while the company reported a 7.45% net margin and 12.31% return on equity.
• Voya increased its quarterly dividend to $0.57 per share from $0.47, implying an annualized dividend of $2.28 and a 2.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $103.69.

Voya Financial (NYSE:VOYA - Get Free Report) released its earnings results on Monday. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01, FiscalAI reports. Voya Financial had a net margin of 7.45% and a return on equity of 12.31%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion.

Voya Financial Trading Up 1.4%

Shares of VOYA traded up $1.36 during trading hours on Monday, reaching $99.41. 1,257,300 shares of the company traded hands, compared to its average volume of 1,101,003. The stock's fifty day moving average price is $98.52 and its 200 day moving average price is $86.20. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 0.99 and a beta of 0.90. Voya Financial has a 12-month low of $64.50 and a 12-month high of $105.64.

Voya Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Tuesday, November 24th will be paid a dividend of $0.57 per share. This is an increase from Voya Financial's previous quarterly dividend of $0.47. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, November 24th. Voya Financial's payout ratio is presently 38.45%.

Insider Buying and Selling

In related news, insider Trevor Ogle sold 2,093 shares of Voya Financial stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $95.81, for a total transaction of $200,530.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

VOYA has been the subject of several research analyst reports. Jefferies Financial Group raised their target price on shares of Voya Financial from $80.00 to $85.00 and gave the company a "hold" rating in a research note on Friday, July 10th. Morgan Stanley upped their price objective on Voya Financial from $92.00 to $105.00 and gave the company an "overweight" rating in a research report on Monday, August 24th. Keefe, Bruyette & Woods cut shares of Voya Financial from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $110.00 to $108.00 in a research note on Friday, October 9th. UBS Group upped their price target on shares of Voya Financial from $125.00 to $127.00 and gave the company a "buy" rating in a report on Tuesday, October 6th. Finally, TD Cowen increased their price objective on shares of Voya Financial from $112.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $103.69.

About Voya Financial

Voya Financial, Inc is a U.S.-based financial services company that helps individuals, employers and institutions plan for retirement, manage investments and address employee benefit needs. Its businesses are organized primarily around Retirement, Employee Benefits and Investment Management.

Voya's retirement business provides workplace retirement plans, including defined contribution and defined benefit solutions, as well as individual retirement products and advisory services. Its employee benefits operations offer products such as health, life, disability and supplemental insurance, along with benefits administration and related services for employers and their workers.

Through its investment management business, Voya provides institutional and individual investors with asset-management and advisory capabilities across a range of investment strategies.

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