Voya Financial (NYSE:VOYA) Price Target Raised to $106.00

Voya Financial (NYSE:VOYA) had its target price increased by Wells Fargo & Company from $102.00 to $106.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the asset manager’s stock.

A number of other research analysts have also recently weighed in on the stock. UBS Group lifted their price objective on shares of Voya Financial from $125.00 to $127.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Royal Bank Of Canada increased their target price on shares of Voya Financial from $107.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. TD Cowen raised their price target on shares of Voya Financial from $112.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 29th. Finally, Morgan Stanley boosted their price target on shares of Voya Financial from $92.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $104.00.

Voya Financial Price Performance

Voya Financial stock traded down $0.04 during trading on Thursday, reaching $102.18. The company had a trading volume of 1,787,667 shares, compared to its average volume of 986,350. The firm’s 50-day simple moving average is $98.70 and its 200 day simple moving average is $87.51. Voya Financial has a 1-year low of $64.50 and a 1-year high of $106.79. The firm has a market capitalization of $9.13 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 1.02 and a beta of 0.85. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.27 and a current ratio of 0.27.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Monday, November 2nd. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. Voya Financial had a net margin of 7.75% and a return on equity of 12.67%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.45 EPS. As a group, equities research analysts anticipate that Voya Financial will post 9.14 earnings per share for the current fiscal year.

Voya Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, November 24th will be paid a $0.57 dividend. This is a boost from Voya Financial’s previous quarterly dividend of $0.47. This represents a $2.28 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, November 24th. Voya Financial’s dividend payout ratio (DPR) is presently 36.66%.

Insiders Place Their Bets

In other Voya Financial news, insider Trevor Ogle sold 2,093 shares of the company’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $95.81, for a total value of $200,530.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.57% of the company’s stock.

Institutional Trading of Voya Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Danske Bank A S acquired a new position in Voya Financial during the second quarter worth approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Voya Financial in the 2nd quarter valued at about $48,000. Versant Capital Management Inc grew its stake in Voya Financial by 29.6% during the 3rd quarter. Versant Capital Management Inc now owns 696 shares of the asset manager’s stock valued at $66,000 after purchasing an additional 159 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Voya Financial during the third quarter worth approximately $70,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Voya Financial during the 2nd quarter worth $84,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Company Profile

Voya Financial, Inc. is a U.S.-based financial services company focused on workplace benefits, retirement plans and investment management. It serves employers, plan sponsors, institutions and individuals, primarily in the United States. The company provides workplace retirement savings plans and related services, along with employee benefits such as group life, disability and supplemental health coverage. Through its investment management business, Voya offers investment strategies and services to institutional and individual clients.