Analysts Set Voya Financial, Inc. (NYSE:VOYA) PT at $87.80

Voya Financial, Inc. (NYSE:VOYA) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $88.40.

Several research analysts have recently weighed in on VOYA shares. Barclays upped their price target on shares of Voya Financial from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. TD Cowen assumed coverage on Voya Financial in a research note on Monday, April 20th. They issued a “buy” rating and a $100.00 target price on the stock. UBS Group increased their target price on Voya Financial from $87.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada increased their target price on Voya Financial from $87.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings raised Voya Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 4th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in Voya Financial by 17.7% in the third quarter. Bank of New York Mellon Corp now owns 6,516,879 shares of the asset manager’s stock valued at $487,463,000 after acquiring an additional 977,870 shares during the last quarter. Wellington Management Group LLP increased its stake in Voya Financial by 5.4% in the fourth quarter. Wellington Management Group LLP now owns 4,492,908 shares of the asset manager’s stock valued at $334,677,000 after acquiring an additional 230,877 shares during the last quarter. Pzena Investment Management LLC increased its stake in Voya Financial by 1.3% in the first quarter. Pzena Investment Management LLC now owns 3,673,118 shares of the asset manager’s stock valued at $250,947,000 after acquiring an additional 46,906 shares during the last quarter. Boston Partners increased its stake in Voya Financial by 1.8% in the fourth quarter. Boston Partners now owns 3,557,281 shares of the asset manager’s stock valued at $265,363,000 after acquiring an additional 61,962 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Voya Financial by 6.8% in the second quarter. Ameriprise Financial Inc. now owns 3,418,536 shares of the asset manager’s stock valued at $242,716,000 after acquiring an additional 219,130 shares during the last quarter. Institutional investors own 96.10% of the company’s stock.

Voya Financial Trading Down 0.0%

Voya Financial stock opened at $82.37 on Wednesday. The stock has a market cap of $7.47 billion, a P/E ratio of 12.44, a PEG ratio of 0.74 and a beta of 0.94. Voya Financial has a fifty-two week low of $64.50 and a fifty-two week high of $84.00. The firm’s fifty day moving average price is $74.13 and its 200-day moving average price is $73.51. 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 released its quarterly earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.24. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Voya Financial had a net margin of 8.24% and a return on equity of 13.84%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 earnings per share. Equities research analysts forecast that Voya Financial will post 9.61 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Tuesday, May 26th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, May 26th. Voya Financial’s dividend payout ratio is currently 28.40%.

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.