Voya Financial, Inc. Plans Quarterly Dividend of $0.45 (NYSE:VOYA)

Key Points

• Voya Financial, Inc. announced a quarterly dividend of $0.45 per share, which will be paid to stockholders on September 26th, representing an annualized dividend yield of 2.6%.
• The company's earnings report showed a profit of $2.15 per share, exceeding expectations, with a projected earnings forecast of $10.28 per share for the next year, maintaining a low payout ratio of 18.4%.
• Analysts have recently upgraded Voya Financial's stock target prices, with forecasted ranges between $75.00 to $89.00, indicating a generally positive outlook for the company's stock performance.

Voya Financial, Inc. (NYSE:VOYA - Get Free Report) announced a quarterly dividend on Thursday, July 31st, RTT News reports. Shareholders of record on Tuesday, August 26th will be given a dividend of 0.45 per share by the asset manager on Friday, September 26th. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, August 26th.

Voya Financial has a dividend payout ratio of 18.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Voya Financial to earn $10.28 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 17.5%.

Voya Financial Trading Down 0.2%

NYSE VOYA traded down $0.16 during trading on Monday, hitting $67.15. 44,075 shares of the company's stock traded hands, compared to its average volume of 934,481. The stock has a fifty day moving average of $69.55 and a two-hundred day moving average of $67.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.28 and a quick ratio of 0.28. Voya Financial has a 12-month low of $52.43 and a 12-month high of $84.30. The firm has a market cap of $6.46 billion, a P/E ratio of 12.67, a PEG ratio of 0.62 and a beta of 0.99.

Voya Financial (NYSE:VOYA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.56. Voya Financial had a net margin of 7.18% and a return on equity of 14.05%. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business posted $1.77 earnings per share. The company's revenue was down 4.0% on a year-over-year basis. As a group, sell-side analysts expect that Voya Financial will post 8.39 EPS for the current year.

Wall Street Analyst Weigh In

VOYA has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Voya Financial from $80.00 to $83.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. increased their target price on shares of Voya Financial from $80.00 to $89.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. UBS Group dropped their target price on shares of Voya Financial from $89.00 to $88.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Barclays increased their target price on shares of Voya Financial from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Finally, Morgan Stanley set a $89.00 target price on shares of Voya Financial and gave the stock an "overweight" rating in a report on Monday, July 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $83.50.

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.