Voya Financial, Inc. (NYSE:VOYA) posted its earnings results on Tuesday. The asset manager reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.39), Bloomberg Earnings reports. Voya Financial had a negative net margin of 3.64% and a positive return on equity of 3.96%. The business had revenue of $226.50 million during the quarter, compared to analyst estimates of $322.92 million. During the same period in the previous year, the firm posted ($1.24) earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.04 annualized dividend and a dividend yield of 0.10%. Voya Financial’s dividend payout ratio is currently -2.23%.
Voya Financial declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 31st that authorizes the company to buyback $800.00 million in shares. This buyback authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.
VOYA has been the subject of a number of research analyst reports. BidaskClub cut Voya Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Voya Financial in a research report on Tuesday, August 1st. ValuEngine raised Voya Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $46.00 price objective on shares of Voya Financial in a research report on Wednesday, September 6th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on Voya Financial in a research report on Wednesday, October 18th. They set a “buy” rating and a $46.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Voya Financial presently has an average rating of “Buy” and an average price target of $47.20.
About Voya Financial
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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