Voya Financial (NYSE:VOYA) Posts Quarterly Earnings Results, Beats Expectations By $0.30 EPS

Voya Financial (NYSE:VOYA - Get Free Report) issued its earnings results on Tuesday. The asset manager reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.30, Briefing.com reports. Voya Financial had a net margin of 8.51% and a return on equity of 16.60%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm posted $1.69 EPS. The business's revenue for the quarter was up 11.8% compared to the same quarter last year.

Voya Financial Stock Performance

Voya Financial stock traded up $2.39 during midday trading on Wednesday, reaching $70.55. 1,630,326 shares of the stock traded hands, compared to its average volume of 901,147. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average price of $69.69 and a two-hundred day moving average price of $70.38. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 0.47 and a beta of 1.06. Voya Financial has a fifty-two week low of $63.02 and a fifty-two week high of $77.00.

Voya Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Tuesday, May 28th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Friday, May 24th. Voya Financial's dividend payout ratio (DPR) is presently 29.47%.

Analyst Upgrades and Downgrades

VOYA has been the topic of a number of research reports. Royal Bank of Canada cut their target price on shares of Voya Financial from $85.00 to $83.00 and set an "outperform" rating on the stock in a research note on Thursday, February 8th. Piper Sandler lifted their price target on shares of Voya Financial from $78.00 to $86.00 and gave the stock an "overweight" rating in a research note on Friday, April 5th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $82.00 price target on shares of Voya Financial in a research note on Monday, January 8th. Evercore ISI lifted their price target on shares of Voya Financial from $79.00 to $80.00 and gave the stock an "outperform" rating in a research note on Thursday, April 11th. Finally, Morgan Stanley dropped their price target on shares of Voya Financial from $79.00 to $78.00 and set an "overweight" rating on the stock in a research note on Friday, March 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.