Voya Financial, Inc. (NYSE:VOYA – Get Rating) declared a quarterly dividend on Thursday, April 28th, Zacks reports. Stockholders of record on Wednesday, May 25th will be given a dividend of 0.20 per share by the asset manager on Wednesday, June 29th. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Tuesday, May 24th.
Voya Financial has increased its dividend payment by an average of 159.0% per year over the last three years and has raised its dividend every year for the last 1 years. Voya Financial has a payout ratio of 10.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Voya Financial to earn $7.56 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 10.6%.
VOYA stock opened at $63.14 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 3.87, a PEG ratio of 6.44 and a beta of 1.36. Voya Financial has a fifty-two week low of $58.97 and a fifty-two week high of $74.97. The stock has a fifty day moving average of $65.85 and a 200-day moving average of $67.17.
In related news, insider Nancy Ferrara sold 21,480 shares of the stock in a transaction dated Thursday, February 10th. The stock was sold at an average price of $72.74, for a total transaction of $1,562,455.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert L. Grubka sold 2,500 shares of the stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $68.50, for a total value of $171,250.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,345 shares of company stock worth $3,127,985. Insiders own 1.47% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Forum Financial Management LP purchased a new position in Voya Financial during the 4th quarter valued at approximately $245,000. Glenmede Trust Co. NA purchased a new position in Voya Financial during the 4th quarter valued at approximately $760,000. Metropolitan Life Insurance Co NY purchased a new position in Voya Financial during the 4th quarter valued at approximately $1,316,000. Thrivent Financial for Lutherans grew its holdings in Voya Financial by 256.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 41,280 shares of the asset manager’s stock valued at $2,738,000 after buying an additional 29,711 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Voya Financial by 2,300.3% during the 4th quarter. MetLife Investment Management LLC now owns 53,790 shares of the asset manager’s stock valued at $3,567,000 after buying an additional 51,549 shares in the last quarter.
VOYA has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Voya Financial from $74.00 to $77.00 in a report on Tuesday, January 4th. Jefferies Financial Group initiated coverage on Voya Financial in a report on Tuesday, January 25th. They issued a “hold” rating and a $75.00 price target on the stock. TheStreet cut Voya Financial from a “b” rating to a “c” rating in a report on Monday, April 4th. Wolfe Research started coverage on Voya Financial in a report on Friday, January 21st. They set a “market perform” rating and a $80.00 price objective on the stock. Finally, Evercore ISI raised Voya Financial from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $66.00 to $82.00 in a report on Wednesday, January 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $77.09.
Voya Financial Company Profile (Get Rating)
Voya Financial, Inc operates as a retirement, investment, and employee benefits company in the United States. The company's Wealth Solutions segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and services, as well as financial planning and advisory services.
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