Voya Financial, Inc. (NYSE:VOYA) Receives $86.00 Average Price Target from Analysts

Voya Financial, Inc. (NYSE:VOYA) has received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $86.00.

A number of equities analysts have recently weighed in on VOYA shares. Morgan Stanley reduced their price target on shares of Voya Financial from $76.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Citigroup lifted their target price on Voya Financial from $86.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Bank of America increased their price target on Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. cut Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price objective on the stock. in a report on Thursday, October 3rd. Finally, Piper Sandler increased their target price on Voya Financial from $88.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th.

Voya Financial Stock Down 0.1 %

Shares of Voya Financial stock opened at $81.33 on Friday. The business has a fifty day simple moving average of $79.54 and a 200 day simple moving average of $74.28. The stock has a market cap of $7.83 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 0.58 and a beta of 1.03. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.54. Voya Financial has a 12 month low of $63.11 and a 12 month high of $84.30.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.07. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the business posted $2.07 EPS. Voya Financial’s revenue was up 7.3% on a year-over-year basis. Research analysts predict that Voya Financial will post 8.2 EPS for the current year.

Voya Financial Dividend Announcement

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

Insider Activity at Voya Financial

In other news, insider Tony D. Oh sold 715 shares of the company’s stock in a transaction that occurred 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 SEC, which is accessible through this link. 1.37% of the stock is owned by insiders.

Institutional Trading of Voya Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arjuna Capital increased its stake in shares of Voya Financial by 0.8% during the 2nd quarter. Arjuna Capital now owns 19,685 shares of the asset manager’s stock worth $1,401,000 after purchasing an additional 161 shares during the last quarter. US Bancorp DE increased its position in Voya Financial by 5.8% during the third quarter. US Bancorp DE now owns 3,655 shares of the asset manager’s stock worth $290,000 after buying an additional 202 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in Voya Financial by 6.8% in the third quarter. First Trust Direct Indexing L.P. now owns 3,291 shares of the asset manager’s stock valued at $261,000 after buying an additional 210 shares during the period. UMB Bank n.a. lifted its position in shares of 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 buying an additional 239 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Voya Financial by 2.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 11,426 shares of the asset manager’s stock worth $905,000 after acquiring an additional 245 shares during the last quarter. 96.10% of the stock is owned by institutional investors.

Voya Financial Company Profile

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.