Voya Financial, Inc. (NYSE:VOYA) Plans Quarterly Dividend of $0.40

Voya Financial, Inc. (NYSE:VOYA) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Tuesday, May 28th will be paid a dividend of 0.40 per share by the asset manager on Wednesday, June 26th. This represents a $1.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, May 28th.

Voya Financial has raised its dividend by an average of 26.0% annually over the last three years and has raised its dividend every year for the last 1 years. Voya Financial has a dividend payout ratio of 16.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Voya Financial to earn $9.52 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 16.8%.

Voya Financial Stock Performance

Shares of NYSE VOYA opened at $69.58 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.55. The stock has a 50 day simple moving average of $69.73 and a 200-day simple moving average of $70.30. The company has a market cap of $7.05 billion, a PE ratio of 12.81, a P/E/G ratio of 0.46 and a beta of 1.06. Voya Financial has a 12-month low of $63.02 and a 12-month high of $77.28.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Tuesday, February 6th. The asset manager reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.02. The business had revenue of $236.00 million during the quarter, compared to the consensus estimate of $304.66 million. Voya Financial had a return on equity of 16.60% and a net margin of 8.51%. On average, equities research analysts forecast that Voya Financial will post 8.42 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada dropped their target price on Voya Financial from $85.00 to $83.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. StockNews.com raised Voya Financial from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Evercore ISI boosted their target price on Voya Financial from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Piper Sandler boosted their target price on Voya Financial from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Morgan Stanley dropped their target price on Voya Financial from $79.00 to $78.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Voya Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.50.

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.