Voya Financial, Inc. (NYSE:VOYA) was upgraded by equities researchers at Sandler O’Neill from a “hold” rating to a “buy” rating in a report released on Monday.
Several other equities analysts have also recently issued reports on the company. BidaskClub raised Voya Financial from a “hold” rating to a “buy” rating in a report on Saturday, September 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $46.00 price objective (up previously from $44.00) on shares of Voya Financial in a report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) began coverage on Voya Financial in a report on Wednesday, October 18th. They issued a “buy” rating and a $46.00 price objective for the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $51.00 price objective on shares of Voya Financial in a report on Friday, November 10th. Finally, Wells Fargo & Company set a $50.00 price objective on Voya Financial and gave the company a “buy” rating in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $47.70.
Shares of Voya Financial (NYSE VOYA) opened at $41.29 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market capitalization of $7,317.50, a PE ratio of 14.04, a price-to-earnings-growth ratio of 0.73 and a beta of 1.62. Voya Financial has a one year low of $33.53 and a one year high of $42.96.
Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, October 31st. The asset manager reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.39). The firm had revenue of $226.50 million for the quarter, compared to analysts’ expectations of $322.92 million. Voya Financial had a negative net margin of 3.64% and a positive return on equity of 3.92%. During the same quarter in the previous year, the firm posted ($1.24) EPS. equities research analysts forecast that Voya Financial will post 3.05 earnings per share for the current year.
Voya Financial declared that its board has authorized a share repurchase program on Tuesday, October 31st that allows the company to repurchase $800.00 million in shares. This repurchase authorization allows the asset manager to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank raised its holdings in Voya Financial by 7.9% in the 2nd quarter. Toronto Dominion Bank now owns 2,728 shares of the asset manager’s stock worth $101,000 after purchasing an additional 199 shares during the period. Reliance Trust Co. of Delaware acquired a new position in Voya Financial in the 3rd quarter worth about $215,000. Paragon Capital Management Ltd acquired a new position in Voya Financial in the 2nd quarter worth about $239,000. Campbell & CO Investment Adviser LLC acquired a new position in Voya Financial in the 2nd quarter worth about $254,000. Finally, TLP Group LLC acquired a new position in Voya Financial in the 2nd quarter worth about $262,000. 96.62% of the stock is owned by institutional investors.
Voya Financial Company Profile
Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.
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