Wall Street analysts predict that Voya Financial, Inc. (NYSE:VOYA) will report $318.84 million in sales for the current fiscal quarter, Zacks reports. Twelve analysts have provided estimates for Voya Financial’s earnings, with the highest sales estimate coming in at $334.90 million and the lowest estimate coming in at $301.20 million. Voya Financial posted sales of $327.50 million during the same quarter last year, which would indicate a negative year over year growth rate of 2.6%. The business is expected to announce its next quarterly earnings results after the market closes on Tuesday, August 1st.
On average, analysts expect that Voya Financial will report full-year sales of $318.84 million for the current fiscal year, with estimates ranging from $1.22 billion to $1.34 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.35 billion per share, with estimates ranging from $1.29 billion to $1.45 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Voya Financial.
Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Wednesday, May 3rd. The asset manager reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.07. Voya Financial had a negative net margin of 7.64% and a positive return on equity of 3.78%. The business had revenue of $303.20 million during the quarter, compared to analyst estimates of $293.84 million. During the same period in the prior year, the business earned $0.55 EPS.
VOYA has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and set a $50.00 price target on shares of Voya Financial in a research note on Monday, April 10th. J P Morgan Chase & Co dropped their price target on Voya Financial from $39.00 to $38.00 and set an “underweight” rating on the stock in a research note on Monday, April 3rd. Citigroup Inc. set a $51.00 price target on Voya Financial and gave the stock a “buy” rating in a research note on Monday, May 8th. BidaskClub lowered Voya Financial from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, ValuEngine upgraded Voya Financial from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $45.89.
Voya Financial (VOYA) traded down 0.47% during mid-day trading on Friday, hitting $38.26. 1,036,918 shares of the stock were exchanged. The stock has a 50 day moving average of $36.85 and a 200-day moving average of $38.19. Voya Financial has a 52-week low of $24.86 and a 52-week high of $42.96. The stock’s market cap is $7.11 billion.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 29th. Investors of record on Wednesday, May 31st were given a $0.01 dividend. The ex-dividend date was Friday, May 26th. This represents a $0.04 dividend on an annualized basis and a yield of 0.10%. Voya Financial’s dividend payout ratio is currently -1.02%.
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In related news, insider Alain M. Karaoglan sold 28,899 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $37.50, for a total value of $1,083,712.50. Following the sale, the insider now owns 6,637 shares in the company, valued at $248,887.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Rodney O. Martin, Jr. bought 8,475 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average price of $35.29 per share, for a total transaction of $299,082.75. Following the transaction, the chairman now owns 114,221 shares of the company’s stock, valued at $4,030,859.09. The disclosure for this purchase can be found here. 0.24% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mckinley Capital Management LLC Delaware bought a new position in shares of Voya Financial during the first quarter worth about $119,000. Advisory Services Network LLC bought a new position in shares of Voya Financial during the first quarter worth about $152,000. Coconut Grove Bank increased its position in shares of Voya Financial by 86.0% in the first quarter. Coconut Grove Bank now owns 4,240 shares of the asset manager’s stock worth $161,000 after buying an additional 1,960 shares during the last quarter. US Bancorp DE increased its position in shares of Voya Financial by 135.7% in the first quarter. US Bancorp DE now owns 4,625 shares of the asset manager’s stock worth $176,000 after buying an additional 2,663 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Voya Financial during the fourth quarter worth about $235,000.
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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