Voya Financial, Inc. (NYSE:VOYA) to Issue $0.40 Quarterly Dividend

Voya Financial, Inc. (NYSE:VOYA - Get Free Report) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders 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 2.36%. The ex-dividend date is Tuesday, May 28th.

Voya Financial has raised its dividend by an average of 26.0% per year over the last three years and has raised its dividend every year for the last 1 years. Voya Financial has a dividend payout ratio of 16.8% meaning 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

VOYA traded down $1.65 during trading on Thursday, hitting $67.94. The company's stock had a trading volume of 1,629,944 shares, compared to its average volume of 893,802. 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 twelve month low of $63.02 and a twelve month high of $77.28. The business's fifty day simple moving average is $69.76 and its 200 day simple moving average is $70.29. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 0.46 and a beta of 1.06.

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

Wall Street Analyst Weigh In

VOYA has been the topic of a number of research analyst reports. StockNews.com raised Voya Financial from a "sell" rating to a "hold" rating in a research note on Saturday, December 30th. Piper Sandler lifted their price objective on Voya Financial from $78.00 to $86.00 and gave the stock an "overweight" rating in a research report on Friday, April 5th. Evercore ISI lifted their price objective on Voya Financial from $79.00 to $80.00 and gave the stock an "outperform" rating in a research report on Thursday, April 11th. The Goldman Sachs Group reiterated a "neutral" rating and set a $82.00 price objective on shares of Voya Financial in a research report on Monday, January 8th. Finally, Wells Fargo & Company lifted their price objective on Voya Financial from $85.00 to $91.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Voya Financial has a consensus rating of "Moderate Buy" and an average target price of $82.50.

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.