Voya Financial (NYSE:VOYA) Hits New 52-Week High – Here’s Why

Voya Financial, Inc. (NYSE:VOYA)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $83.38 and last traded at $83.14, with a volume of 9735 shares. The stock had previously closed at $82.66.

Wall Street Analysts Forecast Growth

VOYA has been the topic of a number of analyst reports. Evercore ISI raised their price objective on shares of Voya Financial from $79.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Morgan Stanley decreased their price target on Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Citigroup increased their price objective on Voya Financial from $86.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Piper Sandler boosted their target price on Voya Financial from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Barclays upped their price target on Voya Financial from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

Voya Financial Stock Down 0.4 %

The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 0.57 and a beta of 1.03. The business’s fifty day moving average price is $73.95 and its 200 day moving average price is $72.45.

Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, July 30th. The asset manager reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.13. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Voya Financial, Inc. will post 8.31 EPS for the current year.

Voya Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.15%. This is a boost from Voya Financial’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, August 27th. Voya Financial’s dividend payout ratio (DPR) is presently 25.57%.

Institutional Investors Weigh In On Voya Financial

Large investors have recently modified their holdings of the stock. Hohimer Wealth Management LLC increased its stake in Voya Financial by 1.7% in the 1st quarter. Hohimer Wealth Management LLC now owns 8,452 shares of the asset manager’s stock valued at $625,000 after buying an additional 140 shares during the period. Arjuna Capital raised its holdings in Voya Financial by 0.8% during the second quarter. Arjuna Capital now owns 19,685 shares of the asset manager’s stock worth $1,401,000 after purchasing an additional 161 shares in the last quarter. UMB Bank n.a. raised its holdings in Voya Financial by 118.9% during the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after purchasing an additional 239 shares in the last quarter. Blair William & Co. IL lifted its position in Voya Financial by 5.3% in the first quarter. Blair William & Co. IL now owns 5,380 shares of the asset manager’s stock valued at $398,000 after purchasing an additional 272 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in Voya Financial by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 25,316 shares of the asset manager’s stock valued at $1,871,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors 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.