Voya Financial, Inc. (NYSE:VOYA) Declares $0.47 Quarterly Dividend

Key Points

• Voya declared a quarterly dividend of $0.47 per share, payable June 26 to shareholders of record on May 26, implying a $1.88 annual dividend and a yield of about 2.3%.
• The dividend appears well-covered: Voya has raised its payout for six consecutive years, has a low payout ratio (~19.2%), and analysts project earnings that would lower the future payout ratio to about 16.4%.
• Most recently the company reported quarterly EPS of $1.94 versus $2.11 expected (a miss) while revenue rose 5% year-over-year to $2.01 billion; the stock trades at a P/E of ~12.9 with institutional ownership around 96%.

Voya Financial, Inc. (NYSE:VOYA - Get Free Report) announced a quarterly dividend on Tuesday, April 28th. Investors of record on Tuesday, May 26th will be given a dividend of 0.47 per share by the asset manager on Friday, June 26th. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, May 26th.

Voya Financial has raised its dividend by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 6 years. Voya Financial has a payout ratio of 19.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Voya Financial to earn $11.43 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 16.4%.

Voya Financial Stock Performance

Shares of NYSE VOYA opened at $81.27 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 0.55 and a beta of 0.86. The stock's fifty day moving average price is $70.42 and its two-hundred day moving average price is $72.64. Voya Financial has a one year low of $57.74 and a one year high of $83.25.

Voya Financial (NYSE:VOYA - Get Free Report) last announced its earnings results on Tuesday, February 3rd. The asset manager reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.11 by ($0.17). Voya Financial had a net margin of 7.99% and a return on equity of 13.96%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the previous year, the firm posted $1.40 EPS. The company's revenue was up 5.0% compared to the same quarter last year. On average, equities analysts forecast that Voya Financial will post 9.74 EPS for the current year.

Institutional Trading of Voya Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Verdad Advisers LP acquired a new position in Voya Financial during the fourth quarter worth about $148,980,000. Norges Bank acquired a new stake in Voya Financial in the fourth quarter valued at approximately $83,106,000. Bank of New York Mellon Corp grew its stake in shares of Voya Financial by 17.7% during the third quarter. Bank of New York Mellon Corp now owns 6,516,879 shares of the asset manager's stock worth $487,463,000 after buying an additional 977,870 shares during the last quarter. Millennium Management LLC grew its stake in shares of Voya Financial by 135.7% during the third quarter. Millennium Management LLC now owns 1,084,747 shares of the asset manager's stock worth $81,139,000 after buying an additional 624,436 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Voya Financial by 63.0% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,431,835 shares of the asset manager's stock worth $107,101,000 after buying an additional 553,675 shares in the last quarter. 96.10% of the stock is currently owned by institutional investors.

About Voya Financial

Voya Financial, Inc NYSE: VOYA is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya's operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya's core business activities span three key segments: Retirement, Investment Management and Employee Benefits.

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