Voya Financial (NYSE:VOYA) Hits New 1-Year High at $77.06

Shares of Voya Financial, Inc. (NYSE:VOYA) reached a new 52-week high on Tuesday . The stock traded as high as $77.06 and last traded at $76.93, with a volume of 21595 shares changing hands. The stock had previously closed at $76.48.

Wall Street Analysts Forecast Growth

VOYA has been the topic of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $83.00 target price on shares of Voya Financial in a report on Wednesday, August 7th. Jefferies Financial Group boosted their target price on Voya Financial from $78.00 to $80.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Raymond James downgraded Voya Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, September 13th. Wells Fargo & Company reduced their target price on Voya Financial from $91.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Finally, Morgan Stanley reduced their target price on Voya Financial from $76.00 to $75.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Voya Financial has an average rating of “Moderate Buy” and a consensus target price of $83.64.

Voya Financial Stock Performance

The stock has a 50 day moving average price of $70.38 and a two-hundred day moving average price of $71.17. 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 market cap of $7.55 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 0.56 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, July 30th. The asset manager reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.13. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.87 billion. Voya Financial had a return on equity of 16.11% and a net margin of 10.87%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.31 EPS. Analysts predict that Voya Financial, Inc. will post 8.45 EPS for the current year.

Voya Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, August 27th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.34%. This is an increase from Voya Financial’s previous quarterly dividend of $0.40. Voya Financial’s dividend payout ratio is 25.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new position in Voya Financial during the second quarter worth about $319,000. Quarry LP bought a new position in Voya Financial during the second quarter worth about $61,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Voya Financial by 114.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,494 shares of the asset manager’s stock worth $604,000 after acquiring an additional 4,540 shares in the last quarter. Creative Planning raised its stake in shares of Voya Financial by 15.3% in the 2nd quarter. Creative Planning now owns 7,216 shares of the asset manager’s stock valued at $513,000 after purchasing an additional 958 shares during the period. Finally, Algert Global LLC acquired a new stake in shares of Voya Financial in the 2nd quarter valued at about $2,863,000. 96.10% of the stock is currently owned by institutional investors.

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.