Wells Fargo & Company Reiterates “Buy” Rating for Voya Financial (VOYA)
“We believe Athene could potentially reinsure the portion of fixed annuities that could be acquired by Apollo, structured in a manner that keeps the current Bermuda tax carveout post tax reform.”,” the firm’s analyst wrote.
A number of other brokerages have also weighed in on VOYA. Sandler O’Neill raised shares of Voya Financial from a hold rating to a buy rating in a report on Monday, November 13th. Keefe, Bruyette & Woods reissued a buy rating and set a $51.00 price objective on shares of Voya Financial in a report on Friday, November 10th. Royal Bank of Canada reissued a buy rating and set a $50.00 price objective on shares of Voya Financial in a report on Thursday, November 2nd. Goldman Sachs Group assumed coverage on shares of Voya Financial in a report on Wednesday, October 18th. They set a buy rating and a $46.00 price objective on the stock. Finally, BidaskClub lowered shares of Voya Financial from a buy rating to a hold rating in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $47.70.
Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Tuesday, October 31st. The asset manager reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.39). Voya Financial had a positive return on equity of 3.92% and a negative net margin of 3.64%. The firm had revenue of $226.50 million during the quarter, compared to analysts’ expectations of $322.92 million. During the same period in the prior year, the firm posted ($1.24) earnings per share. sell-side analysts anticipate that Voya Financial will post 3 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend is Wednesday, November 29th. Voya Financial’s dividend payout ratio (DPR) is presently -2.25%.
A number of hedge funds and other institutional investors have recently bought and sold shares of VOYA. JPMorgan Chase & Co. lifted its position in Voya Financial by 28.0% during the second quarter. JPMorgan Chase & Co. now owns 5,655,104 shares of the asset manager’s stock valued at $208,617,000 after purchasing an additional 1,236,885 shares during the period. UBS Asset Management Americas Inc. lifted its position in Voya Financial by 33.2% during the second quarter. UBS Asset Management Americas Inc. now owns 3,362,721 shares of the asset manager’s stock valued at $124,051,000 after purchasing an additional 837,925 shares during the period. ALGEBRIS UK Ltd acquired a new position in Voya Financial during the second quarter valued at $23,060,000. Scout Investments Inc. acquired a new position in Voya Financial during the second quarter valued at $20,004,000. Finally, Thompson Siegel & Walmsley LLC lifted its position in Voya Financial by 62.8% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,288,314 shares of the asset manager’s stock valued at $47,526,000 after purchasing an additional 496,914 shares during the period. Institutional investors own 96.91% of the company’s stock.
About Voya Financial
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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