Voya Financial Inc. (NYSE:VOYA) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Voya Financial Inc. (NYSE:VOYA) have earned a consensus rating of “Buy” from the fourteen brokerages that are covering the firm. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $37.60.
A number of research firms have commented on VOYA. Deutsche Bank AG reduced their price objective on shares of Voya Financial from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, July 7th. Citigroup Inc. reduced their price objective on shares of Voya Financial from $34.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, July 7th. Evercore ISI began coverage on shares of Voya Financial in a research note on Wednesday, July 6th. They set a “hold” rating and a $31.00 price objective on the stock. Zacks Investment Research downgraded shares of Voya Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and set a $38.00 price objective on shares of Voya Financial in a research note on Wednesday, July 6th.
Shares of Voya Financial (NYSE:VOYA) traded down 0.60% on Wednesday, hitting $28.24. 546,676 shares of the stock were exchanged. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 20.97 and a beta of 1.55. The firm’s 50 day moving average price is $28.62 and its 200 day moving average price is $29.13. Voya Financial has a one year low of $22.75 and a one year high of $42.45.
Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.79 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.79. Voya Financial had a net margin of 2.88% and a return on equity of 3.44%. During the same quarter last year, the business posted $0.78 earnings per share. Equities analysts anticipate that Voya Financial will post $3.03 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, August 29th. This represents a $0.04 annualized dividend and a yield of 0.14%. Voya Financial’s payout ratio is 2.86%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Voya Financial during the fourth quarter valued at approximately $61,768,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Voya Financial by 5.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 68,792 shares of the company’s stock valued at $2,048,000 after buying an additional 3,487 shares during the last quarter. PGGM Investments boosted its position in Voya Financial by 2.5% in the first quarter. PGGM Investments now owns 150,998 shares of the company’s stock valued at $4,495,000 after buying an additional 3,661 shares during the last quarter. Aperio Group LLC boosted its position in shares of Voya Financial by 83.7% in the first quarter. Aperio Group LLC now owns 142,653 shares of the company’s stock valued at $4,247,000 after buying an additional 65,011 shares in the last quarter. Finally, Nisa Investment Advisors L.L.C. acquired a new position in shares of Voya Financial during the first quarter valued at about $1,191,000. 96.83% of the stock is currently owned by hedge funds and other institutional investors.
About Voya Financial
Voya Financial, Inc is a holding company. The Company is a retirement, investment and insurance company, which provides retirement services, annuities, investment management services, mutual funds, life insurance, group insurance and supplemental health products. It provides its principal products and services in two ongoing businesses: Retirement and Investment Solutions, and Insurance Solutions.
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