Voya Financial (NYSE:VOYA) Releases Earnings Results, Misses Estimates By $0.47 EPS

Key Points

• Voya Financial reported quarterly EPS of $1.51, missing analysts’ consensus estimate of $1.98 by $0.47. Revenue totaled $1.88 billion, slightly below expectations of $1.90 billion.
• The stock rose $0.84 to $100.91 in mid-day trading, near its 12-month high of $103.85. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $100.15.
• Voya declared a quarterly dividend of $0.47 per share, or $1.88 annualized, representing a 1.9% yield and a 28.4% payout ratio.

Voya Financial (NYSE:VOYA - Get Free Report) posted its earnings results on Tuesday. The asset manager reported $1.51 EPS for the quarter, missing analysts' consensus estimates of $1.98 by ($0.47), FiscalAI reports. Voya Financial had a net margin of 8.24% and a return on equity of 13.84%. The company had revenue of $1.88 billion during the quarter, compared to analysts' expectations of $1.90 billion.

Voya Financial Stock Performance

Voya Financial stock traded up $0.84 during mid-day trading on Tuesday, reaching $100.91. 1,054,495 shares of the company were exchanged, compared to its average volume of 1,136,584. The firm's 50-day simple moving average is $92.56 and its two-hundred day simple moving average is $80.43. Voya Financial has a twelve month low of $64.50 and a twelve month high of $103.85. The firm has a market cap of $9.15 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 0.92 and a beta of 0.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.27 and a current ratio of 0.27.

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Wednesday, August 26th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, August 26th. Voya Financial's dividend payout ratio (DPR) is presently 28.40%.

Insider Activity

In other Voya Financial news, insider Trevor Ogle sold 3,994 shares of the business's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $90.00, for a total value of $359,460.00. Following the transaction, the insider directly owned 2,887 shares of the company's stock, valued at approximately $259,830. The trade was a 58.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.57% of the company's stock.

Institutional Investors Weigh In On Voya Financial

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

Analyst Ratings Changes

VOYA has been the subject of several research analyst reports. Jefferies Financial Group upped their price objective on shares of Voya Financial from $80.00 to $85.00 and gave the company a "hold" rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods boosted their target price on Voya Financial from $92.00 to $109.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Barclays raised their price target on Voya Financial from $98.00 to $105.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Royal Bank Of Canada boosted their price objective on Voya Financial from $100.00 to $107.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Finally, Raymond James Financial upgraded shares of Voya Financial from a "market perform" rating to a "strong-buy" rating and set a $117.00 target price on the stock in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $100.15.

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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