Voya Financial (NYSE:VOYA) Announces Earnings Results, Beats Expectations By $0.24 EPS

Key Points

• Voya beat EPS expectations: the company reported $2.26 EPS for the quarter, beating the $2.02 consensus by $0.24, while revenue of $1.93 billion slightly missed estimates of $1.98 billion.
• Dividend announced: Voya declared a quarterly dividend of $0.47 (annualized $1.88) with an ex-dividend date of May 26 and payable on June 26, reflecting a ~2.3% yield.
• Stock and analyst view: shares rose to $83.02 (near a 52-week high of $83.80) and the stock carries a MarketBeat consensus of "Moderate Buy" with a $86.30 target and a market cap of $7.67 billion.

Voya Financial (NYSE:VOYA - Get Free Report) issued its earnings results on Tuesday. The asset manager reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.24, FiscalAI reports. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.98 billion. Voya Financial had a return on equity of 13.96% and a net margin of 7.99%.

Voya Financial Stock Performance

Voya Financial stock traded up $1.00 during mid-day trading on Tuesday, hitting $83.02. The company had a trading volume of 1,951,334 shares, compared to its average volume of 1,124,766. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.41. Voya Financial has a 12-month low of $59.90 and a 12-month high of $83.80. The company's fifty day moving average is $70.69 and its 200-day moving average is $72.74. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 0.56 and a beta of 0.94.

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Tuesday, May 26th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, May 26th. Voya Financial's dividend payout ratio is currently 29.89%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Evercore dropped their target price on Voya Financial from $90.00 to $88.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 4th. Weiss Ratings upgraded Voya Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. UBS Group upped their target price on Voya Financial from $87.00 to $95.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. TD Cowen assumed coverage on Voya Financial in a research report on Monday, April 20th. They issued a "buy" rating and a $100.00 target price on the stock. Finally, Wall Street Zen lowered Voya Financial from a "buy" rating to a "hold" rating in a research report on Saturday, January 10th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Voya Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.30.

Institutional Investors Weigh In On Voya Financial

Several hedge funds have recently bought and sold shares of VOYA. Allworth Financial LP boosted its position in Voya Financial by 75.5% in the 3rd quarter. Allworth Financial LP now owns 351 shares of the asset manager's stock worth $26,000 after purchasing an additional 151 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in shares of Voya Financial during the 4th quarter valued at approximately $28,000. EverSource Wealth Advisors LLC lifted its position in shares of Voya Financial by 625.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager's stock valued at $39,000 after buying an additional 475 shares in the last quarter. Fulcrum Asset Management LLP purchased a new position in shares of Voya Financial during the 3rd quarter valued at approximately $42,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Voya Financial during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 96.10% of the company's stock.

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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