Brokerages Set Voya Financial, Inc. (NYSE:VOYA) PT at $103.85

Shares of Voya Financial, Inc. (NYSE:VOYA) have been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $103.8462.

Several research analysts recently weighed in on VOYA shares. Royal Bank Of Canada boosted their target price on Voya Financial from $107.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Morgan Stanley increased their price target on Voya Financial from $92.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Wells Fargo & Company raised their price target on Voya Financial from $100.00 to $104.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 19th. UBS Group boosted their price target on Voya Financial from $95.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Evercore restated an “outperform” rating and set a $111.00 price objective on shares of Voya Financial in a report on Friday, August 7th.

Insider Activity

In other Voya Financial news, insider Trevor Ogle sold 3,994 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $90.00, for a total value of $359,460.00. Following the completion of the transaction, the insider owned 2,887 shares of the company’s stock, valued at approximately $259,830. This trade represents a 58.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On Voya Financial

Several hedge funds have recently made changes to their positions in the company. Allworth Financial LP raised its stake in Voya Financial by 75.5% in the 3rd quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock worth $26,000 after acquiring an additional 151 shares during the last quarter. Danske Bank A S acquired a new position in shares of Voya Financial in the second quarter valued at about $27,000. Atlas Capital Advisors Inc. acquired a new position in shares of Voya Financial in the fourth quarter valued at about $28,000. Systematic Financial Management LP purchased a new position in shares of Voya Financial in the fourth quarter worth about $37,000. Finally, Root Financial Partners LLC raised its stake in shares of Voya Financial by 59.6% in the first quarter. Root Financial Partners LLC now owns 573 shares of the asset manager’s stock worth $39,000 after purchasing an additional 214 shares during the last quarter. 96.10% of the stock is owned by institutional investors and hedge funds.

Voya Financial Price Performance

Shares of VOYA opened at $104.79 on Friday. The company has a 50 day moving average of $98.68 and a two-hundred day moving average of $84.48. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.51. Voya Financial has a twelve month low of $64.50 and a twelve month high of $105.64. The company has a market cap of $9.49 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, August 4th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.47). Voya Financial had a return on equity of 12.31% and a net margin of 7.45%.The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the company posted $1.66 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, analysts predict that Voya Financial will post 9.25 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Wednesday, August 26th will be paid a dividend of $0.47 per share. The ex-dividend date is Wednesday, August 26th. This represents a $1.88 dividend on an annualized basis and a yield of 1.8%. Voya Financial’s dividend payout ratio is presently 31.70%.

About Voya Financial

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.