Voya Financial (NYSE:VOYA) Hits New 1-Year High – Here’s Why

Voya Financial, Inc. (NYSE:VOYAGet Free Report)’s share price reached a new 52-week high on Wednesday . The company traded as high as $93.43 and last traded at $93.3840, with a volume of 178690 shares traded. The stock had previously closed at $90.53.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America lowered their price target on Voya Financial from $72.00 to $70.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Wells Fargo & Company boosted their price objective on Voya Financial from $80.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Weiss Ratings upgraded Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 5th. Raymond James Financial raised Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 target price on the stock in a report on Monday, June 8th. Finally, UBS Group lifted their price target on Voya Financial from $87.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.64.

Read Our Latest Stock Analysis on Voya Financial

Voya Financial Trading Up 1.7%

The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $8.55 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.84 and a beta of 0.91. The business’s fifty day simple moving average is $84.99 and its two-hundred day simple moving average is $76.98.

Voya Financial (NYSE:VOYAGet Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.24. Voya Financial had a net margin of 8.24% and a return on equity of 13.84%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the firm posted $2.00 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. As a group, analysts forecast that Voya Financial, Inc. will post 9.6 earnings per share for the current year.

Voya Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, May 26th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, May 26th. Voya Financial’s payout ratio is currently 28.40%.

Insider Buying and Selling

In other Voya Financial news, insider Trevor Ogle sold 3,994 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $90.00, for a total value of $359,460.00. Following the completion of the sale, the insider owned 2,887 shares in the company, valued at approximately $259,830. This trade represents a 58.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is currently owned by company insiders.

Institutional Trading of Voya Financial

A number of institutional investors and hedge funds have recently modified their holdings of VOYA. Allworth Financial LP lifted its stake in shares of Voya Financial by 75.5% in the 3rd quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 151 shares during the period. Four Tree Island Advisory LLC grew its stake in Voya Financial by 0.5% during the fourth quarter. Four Tree Island Advisory LLC now owns 32,532 shares of the asset manager’s stock worth $2,423,000 after purchasing an additional 174 shares during the period. Root Financial Partners LLC grew its stake in Voya Financial by 59.6% during the first quarter. Root Financial Partners LLC now owns 573 shares of the asset manager’s stock worth $39,000 after purchasing an additional 214 shares during the period. GAMMA Investing LLC increased its holdings in Voya Financial by 7.8% in the fourth quarter. GAMMA Investing LLC now owns 2,976 shares of the asset manager’s stock worth $222,000 after purchasing an additional 216 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Voya Financial by 56.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 612 shares of the asset manager’s stock worth $46,000 after purchasing an additional 222 shares in the last quarter. 96.10% of the stock is currently owned by institutional investors.

Voya Financial Company Profile

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Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.

Further Reading

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