Voya Financial Inc. (VOYA) Rating Lowered to Outperform at Royal Bank Of Canada
Voya Financial Inc. (NYSE:VOYA) was downgraded by research analysts at Royal Bank Of Canada from a “top pick” rating to an “outperform” rating in a note issued to investors on Wednesday. They currently have a $37.00 price target on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 3.41% from the stock’s current price.
Several other equities research analysts also recently commented on the stock. Credit Suisse Group AG initiated coverage on shares of Voya Financial in a report on Friday, October 7th. They set an “outperform” rating and a $39.00 price objective on the stock. Wells Fargo & Co. initiated coverage on shares of Voya Financial in a report on Thursday, September 22nd. They set a “market perform” rating on the stock. TheStreet raised shares of Voya Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 5th. BTIG Research reaffirmed a “buy” rating and set a $50.00 price objective on shares of Voya Financial in a report on Wednesday, October 26th. Finally, Goldman Sachs Group Inc. downgraded shares of Voya Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $39.00 to $29.00 in a report on Friday, July 15th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $37.42.
Voya Financial (NYSE:VOYA) opened at 35.78 on Wednesday. Voya Financial has a 12-month low of $22.75 and a 12-month high of $41.98. The firm has a 50-day moving average of $30.32 and a 200 day moving average of $29.09. The company’s market capitalization is $6.96 billion.
Voya Financial (NYSE:VOYA) last posted its earnings results on Wednesday, November 2nd. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.29. Voya Financial had a negative net margin of 0.02% and a positive return on equity of 3.37%. The firm earned $160.40 million during the quarter, compared to analyst estimates of $306.80 million. During the same quarter in the prior year, the business posted $0.18 EPS. Analysts expect that Voya Financial will post $2.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Monday, November 28th. Voya Financial’s payout ratio is currently -400.00%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. boosted its position in shares of Voya Financial by 8.0% in the second quarter. Pacer Advisors Inc. now owns 4,127 shares of the company’s stock worth $102,000 after buying an additional 306 shares during the last quarter. M&T Bank Corp boosted its position in shares of Voya Financial by 3.8% in the second quarter. M&T Bank Corp now owns 11,026 shares of the company’s stock worth $273,000 after buying an additional 406 shares during the last quarter. Brown Advisory Securities LLC boosted its position in shares of Voya Financial by 8.4% in the third quarter. Brown Advisory Securities LLC now owns 10,300 shares of the company’s stock worth $298,000 after buying an additional 800 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Voya Financial by 3.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 27,900 shares of the company’s stock worth $691,000 after buying an additional 900 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Voya Financial by 5.3% in the second quarter. Barclays PLC now owns 20,002 shares of the company’s stock worth $495,000 after buying an additional 1,003 shares during the last quarter. Institutional investors and hedge funds own 96.69% 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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