Voya Financial (NYSE:VOYA) Releases Earnings Results, Beats Expectations By $0.07 EPS

Voya Financial (NYSE:VOYA) announced its quarterly earnings results on Monday. The asset manager reported $2.12 EPS for the quarter, topping the consensus estimate of $2.05 by $0.07, Briefing.com reports. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.86 billion. Voya Financial had a return on equity of 15.50% and a net margin of 8.81%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.07 EPS.

Voya Financial Stock Performance

Shares of Voya Financial stock traded up $7.97 during trading on Wednesday, hitting $82.93. 1,870,148 shares of the stock were exchanged, compared to its average volume of 823,097. The stock has a market cap of $8.15 billion, a PE ratio of 11.94, a P/E/G ratio of 0.55 and a beta of 1.03. The stock’s fifty day moving average is $77.43 and its 200 day moving average is $73.46. Voya Financial has a 12 month low of $63.11 and a 12 month high of $83.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.30.

Voya Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $1.80 annualized dividend and a yield of 2.17%. Voya Financial’s dividend payout ratio (DPR) is 28.66%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Bank of America upped their target price on Voya Financial from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Barclays lifted their target price on shares of Voya Financial from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company increased their price target on shares of Voya Financial from $87.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Morgan Stanley cut their price objective on Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. cut Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 target price on the stock. in a report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Voya Financial presently has an average rating of “Moderate Buy” and an average price target of $85.27.

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.