Voya Financial, Inc. (NYSE:VOYA) announced a quarterly dividend on Thursday, October 28th, Zacks reports. Stockholders of record on Monday, November 29th will be given a dividend of 0.20 per share by the asset manager on Wednesday, December 29th. This represents a $0.80 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, November 26th. This is a positive change from Voya Financial’s previous quarterly dividend of $0.17.
Voya Financial has increased its dividend by 1,400.0% over the last three years and has increased its dividend annually for the last 1 consecutive years. Voya Financial has a dividend payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Voya Financial to earn $6.65 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 12.0%.
Voya Financial stock opened at $66.11 on Wednesday. The firm has a 50-day moving average price of $65.82 and a 200-day moving average price of $64.82. The firm has a market capitalization of $7.34 billion, a PE ratio of 4.25 and a beta of 1.48. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. Voya Financial has a 12-month low of $54.46 and a 12-month high of $70.98.
Separately, Credit Suisse Group raised their price target on shares of Voya Financial from $78.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 19th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $72.90.
In other Voya Financial news, insider Nancy Ferrara sold 14,320 shares of the firm’s stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $70.00, for a total transaction of $1,002,400.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Rodney O. Martin, Jr. sold 19,364 shares of the firm’s stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $70.00, for a total transaction of $1,355,480.00. The disclosure for this sale can be found here. Company insiders own 1.47% of the company’s stock.
A hedge fund recently raised its stake in Voya Financial stock. Morgan Stanley grew its position in Voya Financial, Inc. (NYSE:VOYA) by 21.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,063,891 shares of the asset manager’s stock after buying an additional 187,441 shares during the period. Morgan Stanley owned 0.94% of Voya Financial worth $65,430,000 at the end of the most recent quarter.
About Voya Financial
Voya Financial, Inc is a retirement, investment, and insurance company, which engages in the provision of financial services. It operates through the following segments: Retirement, Investment Management, and Employee Benefits. The Retirement segment offers tax-deferred, employer-sponsored retirement savings plans and administrative services.
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