Brokerages Set Voya Financial, Inc. (NYSE:VOYA) Price Target at $100.15

Voya Financial, Inc. (NYSE:VOYA) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $100.1538.

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Voya Financial from $92.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Jefferies Financial Group increased their target price on shares of Voya Financial from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Morgan Stanley lifted their price target on shares of Voya Financial from $84.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. UBS Group boosted their price target on shares of Voya Financial from $95.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, Royal Bank Of Canada upped their price objective on shares of Voya Financial from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd.

Voya Financial Price Performance

Shares of NYSE VOYA opened at $100.21 on Monday. The stock’s 50-day simple moving average is $93.31 and its 200-day simple moving average is $80.75. The firm has a market capitalization of $9.09 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 0.93 and a beta of 0.89. Voya Financial has a fifty-two week low of $64.50 and a fifty-two week high of $103.85. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.27 and a current ratio of 0.27.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Tuesday, August 4th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.47). The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.90 billion. Voya Financial had a net margin of 7.45% and a return on equity of 12.17%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the company earned $1.66 earnings per share. As a group, equities research analysts forecast that Voya Financial will post 9.32 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Wednesday, August 26th will be given a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.9%. Voya Financial’s dividend payout ratio is 28.40%.

Key Headlines Impacting Voya Financial

Here are the key news stories impacting Voya Financial this week:

• Positive Sentiment: Voya plans to repurchase at least $100 million of stock during the third quarter, supporting per-share value and signaling management’s confidence in the company’s balance sheet and long-term outlook. Management also expects alternative-investment results to improve from the second quarter. Voya outlines at least $100M Q3 buybacks as it expects alternative investment results to improve in Q3
• Positive Sentiment: Management highlighted expense actions, fee growth and commercial momentum as areas of support. If successful, cost reductions and better alternative-investment performance could help restore margins in coming quarters. VOYA Q2 deep dive
• Neutral Sentiment: Chief Executive Officer Heather Lavallee and Chief Financial Officer Mike Katz will participate in a Canaccord Genuity conference on August 12. The event could provide additional detail on expense initiatives, margins, buybacks and the outlook for alternative investments. Voya Financial to Present at the Canaccord Genuity 46th Annual Growth Conference
• Negative Sentiment: Second-quarter adjusted earnings were $1.51 per share, below analyst estimates ranging from $1.88 to $1.98 and down from the prior-year period. Revenue of $1.88 billion also missed expectations and declined 4.3% year over year. Voya Financial misses Q2 earnings and revenue estimates
• Negative Sentiment: Weak alternative-investment returns and severance costs weighed on quarterly results, while margin pressure remains a concern. The earnings miss is likely the main reason investors remain cautious despite the planned buybacks and expected improvement in the third quarter. VOYA Q2 earnings miss on weak alternative investment results

Insider Buying and Selling

In other Voya Financial news, insider Trevor Ogle sold 3,994 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $90.00, for a total value of $359,460.00. Following the completion of the sale, the insider owned 2,887 shares in the company, valued at approximately $259,830. The trade was a 58.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is currently owned by company insiders.

Institutional Trading of Voya Financial

Large investors have recently bought and sold shares of the business. Royal Bank of Canada grew its holdings in shares of Voya Financial by 21.7% during the first quarter. Royal Bank of Canada now owns 84,715 shares of the asset manager’s stock worth $5,741,000 after buying an additional 15,091 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Voya Financial by 8.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 662,058 shares of the asset manager’s stock valued at $44,861,000 after acquiring an additional 51,376 shares during the last quarter. Empowered Funds LLC raised its stake in Voya Financial by 13.5% during the 1st quarter. Empowered Funds LLC now owns 37,836 shares of the asset manager’s stock valued at $2,564,000 after acquiring an additional 4,490 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Voya Financial by 1.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,144 shares of the asset manager’s stock worth $25,081,000 after acquiring an additional 6,127 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Voya Financial by 44.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock worth $49,000 after acquiring an additional 223 shares during the period. Institutional investors and hedge funds own 96.10% of the company’s stock.

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.