Voya Financial (NYSE:VOYA) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of Voya Financial (NYSE:VOYA) to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

Several other analysts have also weighed in on VOYA. Royal Bank of Canada raised their price objective on shares of Voya Financial from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley reduced their price objective on Voya Financial from $76.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Raymond James cut Voya Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, September 13th. Wells Fargo & Company lifted their price target on Voya Financial from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Bank of America increased their price objective on shares of Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Voya Financial presently has an average rating of “Moderate Buy” and an average target price of $86.00.

Voya Financial Price Performance

Voya Financial stock opened at $81.35 on Monday. The business has a 50 day simple moving average of $79.09 and a 200 day simple moving average of $74.05. Voya Financial has a one year low of $63.11 and a one year high of $84.30. The company has a market capitalization of $7.83 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 0.59 and a beta of 1.03. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.31 and a quick ratio of 0.31.

Voya Financial (NYSE:VOYA) last issued its earnings results on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, beating the consensus estimate of $2.05 by $0.07. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.86 billion. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.07 EPS. On average, sell-side analysts forecast that Voya Financial will post 8.21 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Tuesday, November 26th. Voya Financial’s dividend payout ratio is presently 28.66%.

Insider Buying and Selling at Voya Financial

In related news, insider Tony D. Oh sold 715 shares of Voya Financial stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total transaction of $58,594.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Voya Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Voya Financial in the 3rd quarter valued at approximately $29,000. UMB Bank n.a. increased its stake in Voya Financial by 118.9% in the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 239 shares in the last quarter. Quarry LP acquired a new stake in Voya Financial in the second quarter worth $61,000. Allspring Global Investments Holdings LLC boosted its position in shares of 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 worth $62,000 after purchasing an additional 822 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Voya Financial by 3,640.9% in the 3rd quarter. Blue Trust Inc. now owns 823 shares of the asset manager’s stock valued at $65,000 after buying an additional 801 shares during the period. Institutional investors own 96.10% of the company’s stock.

About Voya Financial

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.