Voya Financial (NYSE:VOYA) Posts Earnings Results, Beats Expectations By $0.31 EPS

Key Points

• Voya Financial reported earnings of $2.40 per share for the quarter, exceeding the consensus estimate of $2.08 by $0.32.
• The company announced a quarterly dividend of $0.45 per share, which will be paid out on September 26th, reflecting an annualized payout of $1.80 and a 2.6% dividend yield.
• Analyst ratings suggest a mixed outlook, with price targets ranging from $70.00 to $89.00 and an average rating of "Hold" with a price target of $83.50.

Voya Financial (NYSE:VOYA - Get Free Report) released its quarterly earnings data on Tuesday. The asset manager reported $2.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.09 by $0.31, Zacks reports. Voya Financial had a return on equity of 13.72% and a net margin of 6.73%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the company posted $2.18 EPS. The firm's revenue for the quarter was down 2.6% compared to the same quarter last year.

Voya Financial Price Performance

Shares of NYSE VOYA traded up $0.46 during trading hours on Friday, reaching $71.08. 663,409 shares of the stock traded hands, compared to its average volume of 847,447. The company's 50-day simple moving average is $69.92 and its two-hundred day simple moving average is $67.65. The company has a quick ratio of 0.28, a current ratio of 0.27 and a debt-to-equity ratio of 0.44. Voya Financial has a 52-week low of $52.43 and a 52-week high of $84.30. The company has a market capitalization of $6.84 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 0.65 and a beta of 0.99.

Voya Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, August 26th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 26th. Voya Financial's dividend payout ratio (DPR) is currently 36.00%.

Analyst Ratings Changes

A number of analysts recently issued reports on VOYA shares. Keefe, Bruyette & Woods boosted their price objective on Voya Financial from $80.00 to $83.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. lifted their price target on Voya Financial from $80.00 to $89.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. UBS Group lifted their price target on Voya Financial from $87.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on Voya Financial from $76.00 to $82.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Finally, Barclays lifted their target price on shares of Voya Financial from $70.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $83.70.

Insider Buying and Selling

In other Voya Financial news, Director Yvette S. Butler sold 1,700 shares of Voya Financial stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $66.18, for a total value of $112,506.00. Following the transaction, the director directly owned 355 shares of the company's stock, valued at $23,493.90. The trade was a 82.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.99% of the stock is owned by company insiders.

Hedge Funds Weigh In On Voya Financial

A number of large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. increased its stake in Voya Financial by 44.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager's stock worth $49,000 after purchasing an additional 223 shares during the period. Empowered Funds LLC increased its stake in Voya Financial by 13.5% in the 1st quarter. Empowered Funds LLC now owns 37,836 shares of the asset manager's stock worth $2,564,000 after purchasing an additional 4,490 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Voya Financial by 1.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,144 shares of the asset manager's stock worth $25,081,000 after purchasing an additional 6,127 shares during the period. Royal Bank of Canada increased its stake in Voya Financial by 21.7% in the 1st quarter. Royal Bank of Canada now owns 84,715 shares of the asset manager's stock worth $5,741,000 after purchasing an additional 15,091 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Voya Financial by 8.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 662,058 shares of the asset manager's stock worth $44,861,000 after buying an additional 51,376 shares during the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

Voya Financial Company Profile

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.