Voya Financial, Inc. (NYSE:VOYA) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Voya Financial, Inc. (NYSE:VOYA) have been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $83.45.

Several equities research analysts have recently commented on the company. Raymond James downgraded Voya Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, September 13th. Bank of America upped their price objective on shares of Voya Financial from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $83.00 target price on shares of Voya Financial in a research report on Wednesday, August 7th. Wells Fargo & Company reduced their price target on shares of Voya Financial from $91.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Finally, Citigroup lifted their price objective on shares of Voya Financial from $86.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd.

Voya Financial Price Performance

Shares of NYSE VOYA opened at $78.65 on Friday. Voya Financial has a twelve month low of $63.02 and a twelve month high of $79.69. 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 50-day moving average of $71.02 and a two-hundred day moving average of $71.56. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 0.57 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, July 30th. The asset manager reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.13. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $2.31 earnings per share. As a group, analysts expect that Voya Financial will post 8.45 earnings per share for the current fiscal year.

Voya Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, August 27th were given a dividend of $0.45 per share. This is a boost from Voya Financial’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, August 27th. This represents a $1.80 dividend on an annualized basis and a yield of 2.29%. Voya Financial’s dividend payout ratio (DPR) is presently 25.57%.

Institutional Investors Weigh In On Voya Financial

Large investors have recently made changes to their positions in the company. SYSTM Wealth Solutions LLC boosted its stake in shares of 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 acquiring an additional 149 shares in the last quarter. FinTrust Capital Advisors LLC bought a new stake in Voya Financial during the first quarter worth approximately $43,000. Allspring Global Investments Holdings LLC grew its holdings in Voya Financial by 6,850.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 822 shares during the last quarter. Quarry LP bought a new position in shares of Voya Financial in the second quarter valued at approximately $61,000. Finally, Mather Group LLC. acquired a new stake in shares of Voya Financial in the first quarter worth $85,000. 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.