Voya Financial, Inc. (NYSE:VOYA – Get Free Report) has earned an average rating of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $102.1538.
A number of research firms recently weighed in on VOYA. Weiss Ratings upgraded shares of Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 5th. Wells Fargo & Company raised their price target on Voya Financial from $89.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods increased their price objective on Voya Financial from $92.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. TD Cowen raised their target price on Voya Financial from $112.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Finally, Raymond James Financial raised Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 target price for the company in a report on Monday, June 8th.
View Our Latest Report on VOYA
Voya Financial Price Performance
Voya Financial (NYSE:VOYA – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.47). The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.90 billion. Voya Financial had a net margin of 7.45% and a return on equity of 12.31%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $1.66 EPS. Equities analysts forecast that Voya Financial will post 9.37 EPS for the current year.
Voya Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Wednesday, August 26th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $1.88 annualized dividend and a yield of 1.9%. Voya Financial’s payout ratio is currently 28.40%.
Insiders Place Their Bets
In other Voya Financial news, insider Trevor Ogle sold 3,994 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $90.00, for a total value of $359,460.00. Following the sale, the insider directly owned 2,887 shares in the company, valued at $259,830. This represents a 58.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.57% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its stake in Voya Financial by 21.7% in the first quarter. Royal Bank of Canada now owns 84,715 shares of the asset manager’s stock worth $5,741,000 after buying an additional 15,091 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Voya Financial by 8.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 662,058 shares of the asset manager’s stock valued at $44,861,000 after purchasing an additional 51,376 shares during the last quarter. Empowered Funds LLC lifted its stake in Voya Financial by 13.5% in the first quarter. Empowered Funds LLC now owns 37,836 shares of the asset manager’s stock worth $2,564,000 after purchasing an additional 4,490 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Voya Financial by 1.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,144 shares of the asset manager’s stock worth $25,081,000 after buying an additional 6,127 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Voya Financial by 44.0% in the first quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock worth $49,000 after buying an additional 223 shares during the period. Hedge funds and other institutional investors own 96.10% of the company’s stock.
About Voya Financial
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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