Brokerages Set Voya Financial, Inc. (NYSE:VOYA) Target Price at $87.50

Voya Financial, Inc. (NYSE:VOYA) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $87.50.

Several research firms recently commented on VOYA. Royal Bank Of Canada upped their target price on Voya Financial from $85.00 to $87.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Evercore dropped their target price on Voya Financial from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Voya Financial in a research note on Monday, December 29th. Wall Street Zen lowered Voya Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Morgan Stanley dropped their target price on Voya Financial from $93.00 to $86.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd.

Voya Financial Stock Up 1.7%

Shares of NYSE:VOYA opened at $68.33 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.41. Voya Financial has a 52-week low of $52.43 and a 52-week high of $79.99. The stock’s fifty day simple moving average is $70.70 and its 200-day simple moving average is $72.72. The company has a market capitalization of $6.34 billion, a P/E ratio of 10.86, a P/E/G ratio of 0.45 and a beta of 0.86.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Tuesday, February 3rd. The asset manager reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.17). The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Voya Financial had a net margin of 7.99% and a return on equity of 13.96%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.40 earnings per share. As a group, equities research analysts forecast that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Wednesday, February 25th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.8%. The ex-dividend date was Wednesday, February 25th. Voya Financial’s dividend payout ratio is presently 29.89%.

Institutional Investors Weigh In On Voya Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its stake in Voya Financial by 124.7% during the fourth quarter. Hsbc Holdings PLC now owns 121,267 shares of the asset manager’s stock worth $9,033,000 after acquiring an additional 67,300 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in Voya Financial by 4.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 8,107 shares of the asset manager’s stock worth $604,000 after acquiring an additional 380 shares during the last quarter. Kera Capital Partners Inc. increased its stake in Voya Financial by 11.0% during the fourth quarter. Kera Capital Partners Inc. now owns 3,072 shares of the asset manager’s stock worth $236,000 after acquiring an additional 304 shares during the last quarter. MV Capital Management Inc. acquired a new stake in Voya Financial during the fourth quarter worth about $74,000. Finally, Invesco Ltd. increased its stake in Voya Financial by 20.4% during the fourth quarter. Invesco Ltd. now owns 386,214 shares of the asset manager’s stock worth $28,769,000 after acquiring an additional 65,380 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors and hedge funds.

Voya Financial Company Profile

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.