Voya Financial, Inc. (NYSE:VOYA) Receives $83.40 Average Price Target from Brokerages

Voya Financial, Inc. (NYSE:VOYA) has received an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $83.70.

A number of brokerages recently issued reports on VOYA. Barclays upped their price target on Voya Financial from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, July 7th. Royal Bank Of Canada increased their price target on shares of Voya Financial from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Evercore ISI upped their target price on Voya Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 13th. Keefe, Bruyette & Woods lifted their price objective on Voya Financial from $80.00 to $83.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley raised their target price on shares of Voya Financial from $89.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th.

Voya Financial Trading Up 2.3%

Shares of VOYA stock opened at $76.4340 on Monday. The stock has a market capitalization of $7.37 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 0.61 and a beta of 0.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.28 and a current ratio of 0.28. Voya Financial has a fifty-two week low of $52.43 and a fifty-two week high of $84.30. The company has a 50 day moving average price of $71.38 and a 200 day moving average price of $67.86.

Voya Financial (NYSE:VOYA) last released its earnings results on Tuesday, August 5th. The asset manager reported $2.40 EPS for the quarter, topping the consensus estimate of $2.09 by $0.31. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Voya Financial had a return on equity of 13.72% and a net margin of 6.73%.Voya Financial’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.18 EPS. Equities research analysts predict that Voya Financial will post 8.39 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, August 26th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.80 annualized dividend and a yield of 2.4%. Voya Financial’s payout ratio is 36.00%.

Insider Activity

In other Voya Financial news, Director Yvette S. Butler sold 1,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $66.18, for a total value of $112,506.00. Following the transaction, the director directly owned 355 shares of the company’s stock, valued at $23,493.90. This represents a 82.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VOYA. IFP Advisors Inc raised its stake in shares of Voya Financial by 225.6% during the second quarter. IFP Advisors Inc now owns 433 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 300 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Voya Financial by 149.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 481 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 288 shares in the last quarter. Quarry LP bought a new stake in shares of Voya Financial in the 4th quarter valued at approximately $37,000. EverSource Wealth Advisors LLC lifted its stake in shares of Voya Financial by 625.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 475 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Voya Financial during the first quarter worth approximately $47,000. 96.10% of the stock is currently 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.