Voya Financial (NYSE:VOYA) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Voya Financial (NYSE:VOYA) in a research report report published on Friday morning, Benzinga reports. They currently have a $85.00 price objective on the asset manager’s stock.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company lowered their target price on shares of Voya Financial from $91.00 to $85.00 and set an overweight rating on the stock in a research note on Tuesday, October 17th. Morgan Stanley decreased their price target on shares of Voya Financial from $85.00 to $84.00 and set an overweight rating on the stock in a research report on Wednesday, November 1st. Jefferies Financial Group reduced their price target on Voya Financial from $80.00 to $75.00 and set a hold rating for the company in a research report on Thursday, September 14th. Piper Sandler dropped their target price on shares of Voya Financial from $84.00 to $83.00 and set an overweight rating for the company in a report on Thursday, August 3rd. Finally, Citigroup increased their price objective on shares of Voya Financial from $85.00 to $86.00 and gave the company a buy rating in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $82.75.

Voya Financial Trading Up 0.1 %

NYSE:VOYA opened at $70.83 on Friday. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 0.70 and a beta of 1.13. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average price is $67.74 and its 200-day moving average price is $70.04. Voya Financial has a 52 week low of $58.83 and a 52 week high of $78.11.

Voya Financial (NYSE:VOYA) last posted its earnings results on Tuesday, October 31st. The asset manager reported $2.07 EPS for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.02). Voya Financial had a return on equity of 16.91% and a net margin of 10.81%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $336.28 million. During the same period in the previous year, the business posted $2.30 EPS. On average, equities research analysts forecast that Voya Financial will post 8.21 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Monday, November 27th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, November 24th. Voya Financial’s dividend payout ratio is 26.23%.

Insider Activity

In related news, insider Tony D. Oh sold 714 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $68.02, for a total value of $48,566.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.44% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Atlas Capital Advisors LLC raised its holdings in Voya Financial by 48.4% in the fourth quarter. Atlas Capital Advisors LLC now owns 417 shares of the asset manager’s stock worth $26,000 after purchasing an additional 136 shares in the last quarter. Clearstead Advisors LLC bought a new position in shares of Voya Financial during the 3rd quarter worth approximately $33,000. EverSource Wealth Advisors LLC lifted its position in Voya Financial by 115.5% during the first quarter. EverSource Wealth Advisors LLC now owns 474 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 254 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in Voya Financial in the first quarter valued at approximately $35,000. Finally, Brown Brothers Harriman & Co. purchased a new position in Voya Financial in the first quarter worth $36,000. 96.10% of the stock is owned by institutional investors.

Voya Financial Company Profile

Voya Financial, Inc operates as a retirement, investment, and employee benefits company in the United States. Its Wealth Solutions segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and services, as well as financial planning and advisory services.