Voya Financial, Inc. (NYSE:VOYA) Receives $85.08 Average Target Price from Analysts

Shares of Voya Financial, Inc. (NYSE:VOYA) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $84.91.

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Voya Financial from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Tuesday. Royal Bank of Canada dropped their price objective on shares of Voya Financial from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Bank of America reaffirmed a “neutral” rating and set a $83.00 target price (down previously from $91.00) on shares of Voya Financial in a report on Wednesday, December 11th. UBS Group raised shares of Voya Financial to a “strong-buy” rating in a report on Monday, November 11th. Finally, Evercore ISI reduced their price objective on Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a report on Tuesday, December 10th.

Voya Financial Stock Performance

Shares of VOYA stock opened at $68.35 on Friday. The company has a fifty day moving average price of $75.82 and a two-hundred day moving average price of $74.39. Voya Financial has a one year low of $63.11 and a one year high of $84.30. The stock has a market cap of $6.58 billion, a P/E ratio of 10.88, a P/E/G ratio of 0.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.31 and a quick ratio of 0.31.

Voya Financial (NYSE:VOYA) last issued its earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.07. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.86 billion. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. Voya Financial’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the business posted $2.07 EPS. As a group, equities analysts predict that Voya Financial will post 8.09 EPS for the current year.

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Tuesday, November 26th were issued a $0.45 dividend. The ex-dividend date was Tuesday, November 26th. This represents a $1.80 annualized dividend and a yield of 2.63%. Voya Financial’s dividend payout ratio is presently 28.66%.

Insider Activity

In other Voya Financial news, insider Tony D. Oh sold 715 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total transaction of $58,594.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Voya Financial

A number of institutional investors have recently modified their holdings of VOYA. Victory Capital Management Inc. raised its stake in Voya Financial by 2.3% during the second quarter. Victory Capital Management Inc. now owns 282,034 shares of the asset manager’s stock worth $20,067,000 after acquiring an additional 6,296 shares in the last quarter. Caprock Group LLC acquired a new position in Voya Financial during the 2nd quarter worth approximately $397,000. Oak Thistle LLC bought a new position in Voya Financial in the 2nd quarter valued at approximately $289,000. Royal London Asset Management Ltd. boosted its position in Voya Financial by 1.3% in the second quarter. Royal London Asset Management Ltd. now owns 58,259 shares of the asset manager’s stock valued at $4,145,000 after buying an additional 760 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Voya Financial by 4.3% during the second quarter. American Century Companies Inc. now owns 42,206 shares of the asset manager’s stock worth $3,003,000 after buying an additional 1,750 shares during the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.

About Voya Financial

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.