Voya Financial (NYSE:VOYA) posted its quarterly earnings results on Tuesday, May 7th. The asset manager reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.05), Briefing.com reports. The company had revenue of $194.00 million during the quarter, compared to analysts’ expectations of $272.72 million. Voya Financial had a return on equity of 8.45% and a net margin of 5.64%. During the same period in the prior year, the firm earned $1.03 EPS.
Shares of Voya Financial stock traded down $1.43 during trading hours on Friday, reaching $50.93. 2,469,500 shares of the stock traded hands, compared to its average volume of 1,467,062. The company has a market cap of $7.57 billion, a P/E ratio of 12.61 and a beta of 1.48. Voya Financial has a one year low of $36.66 and a one year high of $55.61. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.08%. Voya Financial’s dividend payout ratio is currently 0.99%.
Several large investors have recently made changes to their positions in VOYA. Jane Street Group LLC grew its stake in shares of Voya Financial by 108.8% during the 3rd quarter. Jane Street Group LLC now owns 11,937 shares of the asset manager’s stock valued at $593,000 after acquiring an additional 146,974 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in Voya Financial by 25.8% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,715,088 shares of the asset manager’s stock worth $184,528,000 after purchasing an additional 762,178 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Voya Financial by 50.3% in the 3rd quarter. Clearbridge Investments LLC now owns 1,862,112 shares of the asset manager’s stock worth $92,491,000 after purchasing an additional 622,863 shares in the last quarter. Retirement Systems of Alabama purchased a new position in Voya Financial in the 4th quarter worth approximately $2,396,000. Finally, DNB Asset Management AS lifted its holdings in Voya Financial by 8.0% in the 4th quarter. DNB Asset Management AS now owns 17,064 shares of the asset manager’s stock worth $685,000 after purchasing an additional 1,264 shares in the last quarter.
A number of equities analysts have weighed in on the company. Royal Bank of Canada boosted their target price on Voya Financial to $60.00 and gave the stock a “positive” rating in a research report on Thursday, May 9th. TheStreet raised Voya Financial from a “c+” rating to a “b-” rating in a research report on Friday, April 5th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $66.00 target price (up previously from $59.00) on shares of Voya Financial in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Voya Financial has an average rating of “Buy” and an average price target of $58.00.
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About Voya Financial
Voya Financial, Inc operates as a retirement, investment, and employee benefits company in the United States. It operates through four segments: Retirement, Investment Management, Employee Benefits, and Individual Life. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and financial services, as well as financial planning and advisory services.
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