Voya Financial, Inc. (NYSE:VOYA) to Issue $0.45 Quarterly Dividend

Voya Financial, Inc. (NYSE:VOYA - Get Free Report) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Tuesday, February 25th will be given a dividend of 0.45 per share by the asset manager on Thursday, March 27th. This represents a $1.80 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Tuesday, February 25th.

Voya Financial has raised its dividend payment by an average of 34.7% per year over the last three years. Voya Financial has a payout ratio of 16.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Voya Financial to earn $9.01 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 20.0%.

Voya Financial Price Performance

Voya Financial stock traded down $0.64 during mid-day trading on Tuesday, hitting $68.28. 1,444,155 shares of the company were exchanged, compared to its average volume of 750,934. The company has a market capitalization of $6.57 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 0.49 and a beta of 1.05. The business has a fifty day moving average of $71.46 and a 200 day moving average of $74.11. Voya Financial has a 1-year low of $63.11 and a 1-year high of $84.30. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.54.

Voya Financial (NYSE:VOYA - Get Free Report) last posted its earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.15 by ($0.65). Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. As a group, sell-side analysts expect that Voya Financial will post 7.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VOYA shares. Royal Bank of Canada lowered their price target on shares of Voya Financial from $90.00 to $85.00 and set an "outperform" rating for the company in a research report on Monday. Evercore ISI lowered their target price on shares of Voya Financial from $94.00 to $89.00 and set an "outperform" rating for the company in a report on Tuesday, December 10th. Piper Sandler cut their price target on Voya Financial from $91.00 to $84.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods decreased their price objective on Voya Financial from $92.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. Finally, Barclays cut their target price on Voya Financial from $85.00 to $81.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.27.

Insider Buying and Selling at Voya Financial

In other news, insider Tony D. Oh sold 715 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total value of $58,594.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.37% of the company's stock.

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.