Shares of Voya Financial, Inc. (NYSE:VOYA – Get Free Report) have earned an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $99.25.
Several equities analysts have recently weighed in on VOYA shares. 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 report on Tuesday, April 14th. TD Cowen lifted their price target on shares of Voya Financial from $100.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Jefferies Financial Group boosted their price objective on Voya Financial from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Friday. UBS Group boosted their target price on shares of Voya Financial from $95.00 to $125.00 and gave the stock a “buy” rating in a report on Friday. Finally, Barclays boosted their target price on Voya Financial from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th.
Check Out Our Latest Report on VOYA
Voya Financial Trading Up 1.4%
Voya Financial (NYSE:VOYA – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.24. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the company earned $2.00 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. Equities research analysts predict that Voya Financial will post 9.57 earnings per share for the current fiscal year.
Voya Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, May 26th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, May 26th. Voya Financial’s dividend payout ratio (DPR) is presently 28.40%.
Insider Buying and Selling
In related news, insider Trevor Ogle sold 3,994 shares of Voya Financial stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $90.00, for a total transaction of $359,460.00. Following the completion of the transaction, the insider directly owned 2,887 shares of the company’s stock, valued at approximately $259,830. The trade was a 58.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by insiders.
Institutional Investors Weigh In On Voya Financial
Large investors have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP grew its stake in Voya Financial by 21.1% during the 3rd quarter. Hudson Bay Capital Management LP now owns 151,462 shares of the asset manager’s stock worth $11,329,000 after buying an additional 26,346 shares during the last quarter. Cadence Bank increased its holdings in Voya Financial by 59.9% in the 3rd quarter. Cadence Bank now owns 49,299 shares of the asset manager’s stock worth $3,688,000 after buying an additional 18,462 shares during the period. Impax Asset Management Group plc raised its holdings in shares of Voya Financial by 11.4% during the fourth quarter. Impax Asset Management Group plc now owns 203,101 shares of the asset manager’s stock worth $15,129,000 after purchasing an additional 20,722 shares during the last quarter. Prana Capital Management LP purchased a new position in shares of Voya Financial during the 3rd quarter valued at about $2,454,000. Finally, Ruffer LLP purchased a new position in Voya Financial during the fourth quarter valued at approximately $3,153,000. 96.10% of the stock is owned by hedge funds and other institutional investors.
Voya Financial Company Profile
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.
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