Keefe, Bruyette & Woods Reaffirms Buy Rating for Voya Financial, Inc. (VOYA)
Keefe, Bruyette & Woods reissued their buy rating on shares of Voya Financial, Inc. (NYSE:VOYA) in a research note released on Friday morning. The brokerage currently has a $51.00 price objective on the asset manager’s stock.
VOYA has been the topic of a number of other research reports. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Voya Financial in a research report on Wednesday, October 18th. They set a buy rating and a $46.00 price target on the stock. Royal Bank Of Canada reiterated a buy rating and set a $50.00 price objective on shares of Voya Financial in a report on Thursday, November 2nd. ValuEngine lowered shares of Voya Financial from a strong-buy rating to a buy rating in a report on Monday, August 7th. Wells Fargo & Company reiterated a buy rating on shares of Voya Financial in a report on Tuesday, August 1st. Finally, BidaskClub lowered shares of Voya Financial from a buy rating to a hold rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. Voya Financial has a consensus rating of Buy and a consensus price target of $47.70.
Shares of Voya Financial (VOYA) opened at $41.04 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.44. The company has a market cap of $7,317.50, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 0.73 and a beta of 1.62. Voya Financial has a 1 year low of $33.53 and a 1 year high of $42.96.
Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, October 31st. The asset manager reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.39). The firm had revenue of $226.50 million for the quarter, compared to the consensus estimate of $322.92 million. Voya Financial had a negative net margin of 3.64% and a positive return on equity of 3.92%. During the same period last year, the company posted ($1.24) EPS. equities research analysts expect that Voya Financial will post 3.05 EPS for the current fiscal year.
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Voya Financial announced that its board has authorized a share buyback program on Tuesday, October 31st that allows the company to repurchase $800.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, November 30th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.10%. Voya Financial’s dividend payout ratio is presently -2.23%.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Voya Financial by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 15,350,277 shares of the asset manager’s stock worth $566,271,000 after acquiring an additional 125,764 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Voya Financial by 1.7% in the 2nd quarter. Franklin Resources Inc. now owns 13,647,536 shares of the asset manager’s stock worth $503,475,000 after acquiring an additional 233,423 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Voya Financial by 2.5% in the 2nd quarter. BlackRock Inc. now owns 10,921,195 shares of the asset manager’s stock worth $402,882,000 after acquiring an additional 269,982 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Voya Financial by 5.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,435,846 shares of the asset manager’s stock worth $256,727,000 after acquiring an additional 323,678 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Voya Financial by 28.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,655,104 shares of the asset manager’s stock worth $208,617,000 after acquiring an additional 1,236,885 shares during the last quarter. Institutional investors own 96.62% of the company’s stock.
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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