Shares of Voya Financial Inc (NYSE:VOYA) traded up 6.6% on Wednesday following a stronger than expected earnings report. The stock traded as high as $51.51 and last traded at $51.19. 4,080,981 shares traded hands during trading, an increase of 67% from the average session volume of 2,441,903 shares. The stock had previously closed at $48.02.
The asset manager reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.17. The firm had revenue of $2.19 billion for the quarter. Voya Financial had a negative net margin of 3.64% and a positive return on equity of 3.92%.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date of this dividend is Tuesday, February 27th. Voya Financial’s dividend payout ratio (DPR) is presently -2.23%.
A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Co set a $65.00 price objective on shares of Voya Financial and gave the company a “buy” rating in a report on Wednesday. ValuEngine upgraded shares of Voya Financial from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. BTIG Research restated a “buy” rating and set a $59.00 target price on shares of Voya Financial in a research report on Tuesday, January 2nd. Deutsche Bank assumed coverage on shares of Voya Financial in a research report on Tuesday, January 2nd. They set a “buy” rating and a $59.00 target price for the company. Finally, Evercore ISI upgraded shares of Voya Financial to a “buy” rating and set a $60.00 target price for the company in a research report on Wednesday, December 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $52.82.
A number of hedge funds and other institutional investors have recently bought and sold shares of VOYA. Toronto Dominion Bank raised its position in shares of Voya Financial by 7.9% in the second quarter. Toronto Dominion Bank now owns 2,728 shares of the asset manager’s stock worth $101,000 after acquiring an additional 199 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Voya Financial by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 7,497 shares of the asset manager’s stock worth $276,000 after acquiring an additional 321 shares during the period. CIBC Asset Management Inc raised its position in shares of Voya Financial by 12.9% in the fourth quarter. CIBC Asset Management Inc now owns 9,028 shares of the asset manager’s stock worth $447,000 after acquiring an additional 1,028 shares during the period. Public Employees Retirement Association of Colorado raised its position in shares of Voya Financial by 0.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 255,423 shares of the asset manager’s stock worth $12,636,000 after acquiring an additional 1,147 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Voya Financial by 2.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 71,000 shares of the asset manager’s stock worth $2,844,000 after acquiring an additional 1,400 shares during the period. Institutional investors own 96.18% of the company’s stock.
The firm has a market capitalization of $8,640.43, a PE ratio of -26.83, a price-to-earnings-growth ratio of 0.61 and a beta of 1.61. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.44.
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Voya Financial Company Profile
Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.
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