Voya Financial, Inc. (NYSE:VOYA – Get Free Report) shares crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $98.55 and traded as high as $99.65. Voya Financial shares last traded at $99.4080, with a volume of 1,257,300 shares.
Analyst Upgrades and Downgrades
VOYA has been the subject of several research reports. Weiss Ratings upgraded shares of Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 29th. TD Cowen lifted their target price on Voya Financial from $112.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. lowered their target price on Voya Financial from $109.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, October 15th. Wells Fargo & Company cut their price target on Voya Financial from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Monday, October 12th. Finally, Barclays upped their price target on Voya Financial from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.69.
Voya Financial Trading Up 1.4%
The company has a 50-day moving average price of $98.55 and a 200-day moving average price of $86.32. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 0.98 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.27 and a current ratio of 0.27.
Voya Financial (NYSE:VOYA – Get Free Report) last issued its earnings results on Monday, November 2nd. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.01. Voya Financial had a return on equity of 12.31% and a net margin of 7.45%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the company earned $2.45 EPS. The business’s quarterly revenue was down 4.8% on a year-over-year basis. As a group, research analysts forecast that Voya Financial, Inc. will post 9.17 EPS for the current fiscal year.
Voya Financial Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Tuesday, November 24th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.3%. This is a positive change from Voya Financial’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, November 24th. Voya Financial’s dividend payout ratio is currently 31.70%.
Insider Buying and Selling
In other Voya Financial news, insider Trevor Ogle sold 2,093 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $95.81, for a total transaction of $200,530.33. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by corporate insiders.
Institutional Trading of Voya Financial
Institutional investors have recently modified their holdings of the stock. Deutsche Bank AG acquired a new position in Voya Financial in the 2nd quarter valued at about $1,010,000. Quantinno Capital Management LP lifted its position in Voya Financial by 6.8% during the 1st quarter. Quantinno Capital Management LP now owns 237,550 shares of the asset manager’s stock worth $16,229,000 after acquiring an additional 15,186 shares during the period. BlackRock Inc. acquired a new stake in Voya Financial during the 2nd quarter worth approximately $850,187,000. Tidal Investments LLC lifted its position in Voya Financial by 172.7% during the 2nd quarter. Tidal Investments LLC now owns 21,487 shares of the asset manager’s stock worth $1,945,000 after acquiring an additional 13,608 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Voya Financial during the 2nd quarter worth approximately $2,045,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.
About Voya Financial
Voya Financial, Inc is a U.S.-based financial services company that helps individuals, employers and institutions plan for retirement, manage investments and address employee benefit needs. Its businesses are organized primarily around Retirement, Employee Benefits and Investment Management.
Voya’s retirement business provides workplace retirement plans, including defined contribution and defined benefit solutions, as well as individual retirement products and advisory services. Its employee benefits operations offer products such as health, life, disability and supplemental insurance, along with benefits administration and related services for employers and their workers.
Through its investment management business, Voya provides institutional and individual investors with asset-management and advisory capabilities across a range of investment strategies.
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