Voya Financial, Inc. (NYSE:VOYA) Receives $83.40 Consensus Target Price from Analysts

Shares of Voya Financial, Inc. (NYSE:VOYA) have been given an average rating of “Moderate Buy” by the eleven ratings firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $83.45.

VOYA has been the topic of several recent analyst reports. Bank of America boosted their target price on shares of Voya Financial from $80.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Citigroup boosted their target price on shares of Voya Financial from $86.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Jefferies Financial Group boosted their target price on shares of Voya Financial from $78.00 to $80.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Barclays initiated coverage on shares of Voya Financial in a report on Wednesday. They issued an “overweight” rating and a $84.00 target price on the stock. Finally, Wells Fargo & Company decreased their price objective on shares of Voya Financial from $91.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, August 12th.

Institutional Investors Weigh In On Voya Financial

Several large investors have recently added to or reduced their stakes in VOYA. SYSTM Wealth Solutions LLC increased its stake in Voya Financial by 56.2% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock worth $31,000 after buying an additional 149 shares during the period. FinTrust Capital Advisors LLC purchased a new stake in Voya Financial during the 1st quarter worth approximately $43,000. Venturi Wealth Management LLC increased its stake in Voya Financial by 213.2% during the 1st quarter. Venturi Wealth Management LLC now owns 595 shares of the asset manager’s stock worth $44,000 after buying an additional 405 shares during the period. Quarry LP purchased a new stake in Voya Financial during the 2nd quarter worth approximately $61,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Voya Financial by 6,850.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock worth $62,000 after buying an additional 822 shares during the period. 96.10% of the stock is owned by hedge funds and other institutional investors.

Voya Financial Stock Down 1.9 %

Shares of NYSE VOYA opened at $69.75 on Monday. Voya Financial has a 12-month low of $63.02 and a 12-month high of $76.75. The stock has a market cap of $6.86 billion, a PE ratio of 9.91, a P/E/G ratio of 0.49 and a beta of 1.03. 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 company has a 50-day moving average of $69.79 and a 200 day moving average of $70.80.

Voya Financial (NYSE:VOYA) last posted its 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. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.87 billion. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. Voya Financial’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.31 EPS. As a group, sell-side analysts predict that Voya Financial will post 8.45 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 paid a dividend of $0.45 per share. This is an increase from Voya Financial’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Tuesday, August 27th. Voya Financial’s dividend payout ratio is presently 25.57%.

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.