Voya Financial (VOYA) to Repurchase $500.00 million in Stock

Voya Financial (NYSE:VOYA) declared that its board has authorized a stock repurchase program, which allows the company to buyback $500.00 million in shares on Tuesday, February 13th, EventVestor reports. This buyback authorization allows the asset manager to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Several equities analysts recently weighed in on the company. SunTrust Banks boosted their price objective on Voya Financial from $4.45 to $54.00 and gave the stock a “hold” rating in a research report on Thursday. Wells Fargo & Co set a $65.00 price objective on Voya Financial and gave the stock a “buy” rating in a research report on Wednesday. ValuEngine upgraded Voya Financial from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BTIG Research restated a “buy” rating and set a $59.00 price target on shares of Voya Financial in a research note on Tuesday, January 2nd. Finally, Deutsche Bank started coverage on Voya Financial in a research note on Tuesday, January 2nd. They set a “buy” rating and a $59.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $52.92.

Voya Financial (NYSE VOYA) traded down $0.42 during mid-day trading on Thursday, hitting $50.77. The stock had a trading volume of 627,848 shares, compared to its average volume of 2,370,605. Voya Financial has a 52 week low of $33.53 and a 52 week high of $54.87. The company has a market cap of $8,631.45, a price-to-earnings ratio of -3.07, a P/E/G ratio of 0.61 and a beta of 1.61. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.14 and a current ratio of 0.14.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, February 13th. The asset manager reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.17. Voya Financial had a positive return on equity of 3.68% and a negative net margin of 31.38%. The company had revenue of $2.19 billion for the quarter. research analysts expect that Voya Financial will post 4.31 earnings per share for the current fiscal year.

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 paid a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.08%. Voya Financial’s dividend payout ratio is currently -0.24%.

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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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