Voya Financial, Inc. (NYSE:VOYA) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Voya Financial, Inc. (NYSE:VOYA) have earned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $83.50.

Several brokerages have recently weighed in on VOYA. Jefferies Financial Group upped their price target on Voya Financial from $78.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley lowered Voya Financial from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $79.00 to $76.00 in a report on Thursday, August 1st. Citigroup boosted their price objective on Voya Financial from $86.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Bank of America boosted their price objective on Voya Financial from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Wells Fargo & Company cut their price objective on Voya Financial from $91.00 to $87.00 and set an “overweight” rating for the company in a report on Monday.

Voya Financial Trading Down 1.4 %

Shares of VOYA opened at $64.77 on Thursday. The business’s 50-day moving average price is $71.38 and its 200-day moving average price is $71.03. Voya Financial has a twelve month low of $63.02 and a twelve month high of $76.75. The stock has a market cap of $6.37 billion, a PE ratio of 9.20, a P/E/G ratio of 0.46 and a beta of 1.05. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.51.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Tuesday, July 30th. The asset manager reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.13. Voya Financial had a return on equity of 16.11% and a net margin of 10.87%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the business posted $2.31 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Voya Financial will post 8.48 EPS for the current fiscal year.

Voya Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, August 27th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Tuesday, August 27th. This is an increase from Voya Financial’s previous quarterly dividend of $0.40. Voya Financial’s dividend payout ratio is currently 22.73%.

Insider Activity at Voya Financial

In related news, Director Yvette S. Butler sold 2,165 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $73.78, for a total transaction of $159,733.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Voya Financial

Institutional investors have recently added to or reduced their stakes in the company. SYSTM Wealth Solutions LLC raised its holdings in Voya Financial by 56.2% in the first quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock worth $31,000 after purchasing an additional 149 shares in the last quarter. FinTrust Capital Advisors LLC bought a new position in Voya Financial in the first quarter worth $43,000. Venturi Wealth Management LLC raised its holdings in Voya Financial by 213.2% in the first quarter. Venturi Wealth Management LLC now owns 595 shares of the asset manager’s stock worth $44,000 after purchasing an additional 405 shares in the last quarter. GAMMA Investing LLC bought a new position in Voya Financial in the fourth quarter worth $49,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Voya Financial by 6,850.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock worth $62,000 after purchasing an additional 822 shares in the last quarter. Institutional investors own 96.10% of the company’s stock.

Voya Financial Company Profile

Voya Financial, Inc engages in the provision of workplace benefits and savings products in the United States and internationally. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees.