Voya Financial Inc. (VOYA) Coverage Initiated by Analysts at Credit Suisse Group AG
Credit Suisse Group AG initiated coverage on shares of Voya Financial Inc. (NYSE:VOYA) in a research note published on Friday morning. The firm issued an outperform rating and a $39.00 price objective on the stock.
A number of other research firms have also issued reports on VOYA. Deutsche Bank AG reduced their target price on shares of Voya Financial from $41.00 to $37.00 and set a buy rating on the stock in a report on Thursday, July 14th. Goldman Sachs Group Inc. lowered shares of Voya Financial from a buy rating to a neutral rating and reduced their target price for the stock from $39.00 to $29.00 in a report on Friday, July 15th. JPMorgan Chase & Co. reissued a hold rating and issued a $38.00 price objective on shares of Voya Financial in a research report on Wednesday, July 6th. Zacks Investment Research raised shares of Voya Financial from a sell rating to a hold rating in a research report on Saturday, August 6th. Finally, TheStreet raised shares of Voya Financial from a hold rating to a buy rating in a research report on Wednesday, October 5th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $38.75.
Voya Financial (NYSE:VOYA) traded up 0.36% on Friday, reaching $30.85. 424,128 shares of the company were exchanged. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 22.90 and a beta of 1.55. Voya Financial has a 52 week low of $22.75 and a 52 week high of $42.45. The stock has a 50-day moving average price of $28.94 and a 200 day moving average price of $29.06.
Voya Financial (NYSE:VOYA) last released its earnings results on Wednesday, August 3rd. The company reported $0.79 earnings per share (EPS) for the quarter, hitting 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 firm posted $0.78 EPS. Analysts forecast that Voya Financial will post $3.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.01 per share. The ex-dividend date was Monday, August 29th. This represents a $0.04 annualized dividend and a yield of 0.13%. Voya Financial’s dividend payout ratio (DPR) is currently 2.86%.
Several large investors have recently modified their holdings of VOYA. Aperio Group LLC increased its stake 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 worth $4,247,000 after buying an additional 65,011 shares during the period. Nisa Investment Advisors L.L.C. purchased a new stake in shares of Voya Financial during the first quarter worth approximately $1,191,000. Ngam Advisors L.P. increased its stake in shares of Voya Financial by 27.2% in the first quarter. Ngam Advisors L.P. now owns 41,122 shares of the company’s stock worth $1,224,000 after buying an additional 8,784 shares during the period. Prudential Financial Inc. increased its stake in shares of Voya Financial by 113.7% in the first quarter. Prudential Financial Inc. now owns 567,790 shares of the company’s stock worth $16,903,000 after buying an additional 302,100 shares during the period. Finally, Investec Asset Management LTD increased its stake in shares of Voya Financial by 4.4% in the first quarter. Investec Asset Management LTD now owns 5,347,422 shares of the company’s stock worth $159,193,000 after buying an additional 224,661 shares during the period. Institutional investors and hedge funds own 96.83% of the company’s stock.
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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