Voya Financial, Inc. (NYSE:VOYA) Receives $83.55 Average Target Price from Brokerages

Voya Financial, Inc. (NYSE:VOYA) has received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $83.55.

A number of equities analysts have recently weighed in on VOYA shares. Morgan Stanley upgraded Voya Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $76.00 to $87.00 in a research note on Friday, February 28th. Bank of America restated a “neutral” rating and issued a $83.00 target price (down previously from $91.00) on shares of Voya Financial in a research note on Wednesday, December 11th. Evercore ISI lowered their price target on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a report on Tuesday, December 10th. Wells Fargo & Company lifted their price target on shares of Voya Financial from $76.00 to $79.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Finally, Barclays cut shares of Voya Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th.

Voya Financial Price Performance

Shares of NYSE VOYA opened at $67.77 on Friday. Voya Financial has a twelve month low of $64.10 and a twelve month high of $84.30. The stock’s 50 day moving average price is $70.43 and its 200-day moving average price is $74.53. The company has a market capitalization of $6.47 billion, a PE ratio of 11.07, a PEG ratio of 0.48 and a beta of 1.03. The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 0.59.

Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.65). Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. On average, equities analysts anticipate that Voya Financial will post 8.39 EPS for the current year.

Voya Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, February 25th. This represents a $1.80 dividend on an annualized basis and a yield of 2.66%. Voya Financial’s payout ratio is 29.41%.

Institutional Investors Weigh In On Voya Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quest Partners LLC bought a new position in shares of Voya Financial in the third quarter worth $322,000. Advisors Asset Management Inc. increased its holdings in shares of Voya Financial by 52.2% in the third quarter. Advisors Asset Management Inc. now owns 11,580 shares of the asset manager’s stock worth $917,000 after purchasing an additional 3,970 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Voya Financial by 1.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager’s stock worth $212,152,000 after purchasing an additional 38,438 shares during the period. Kingsview Wealth Management LLC increased its holdings in shares of Voya Financial by 15.2% in the third quarter. Kingsview Wealth Management LLC now owns 28,609 shares of the asset manager’s stock worth $2,266,000 after purchasing an additional 3,782 shares during the period. Finally, Algert Global LLC increased its holdings in shares of Voya Financial by 5.5% in the third quarter. Algert Global LLC now owns 42,473 shares of the asset manager’s stock worth $3,365,000 after purchasing an additional 2,230 shares during the period. Institutional investors own 96.10% of the company’s stock.

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.