Voya Financial (NYSE:VOYA) Price Target Raised to $110.00

Voya Financial (NYSE:VOYA) had its price target raised by Royal Bank Of Canada from $107.00 to $110.00 in a research note published on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the asset manager’s stock.

Several other analysts have also weighed in on VOYA. Bank of America dropped their price objective on shares of Voya Financial from $72.00 to $70.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. Jefferies Financial Group boosted their target price on Voya Financial from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, July 10th. TD Cowen increased their price target on Voya Financial from $112.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Raymond James Financial raised Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 price target for the company in a report on Monday, June 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on Voya Financial from $92.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.15.

Voya Financial Stock Down 0.1%

Shares of NYSE:VOYA opened at $101.37 on Thursday. The company’s fifty day moving average is $94.14 and its 200-day moving average is $81.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.27 and a current ratio of 0.26. Voya Financial has a 52 week low of $64.50 and a 52 week high of $103.85. The company has a market capitalization of $9.19 billion, a PE ratio of 17.10, a P/E/G ratio of 0.96 and a beta of 0.89.

Voya Financial (NYSE:VOYA) last announced its 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 firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.90 billion. Voya Financial had a return on equity of 12.31% and a net margin of 7.45%.The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.66 EPS. Equities research analysts predict that Voya Financial will post 9.37 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Wednesday, August 26th will be paid 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 payout ratio is currently 31.70%.

Insider Activity

In other news, insider Trevor Ogle sold 3,994 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $90.00, for a total transaction of $359,460.00. Following the transaction, the insider directly owned 2,887 shares in the company, valued at approximately $259,830. This represents a 58.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VOYA. BlackRock Inc. acquired a new position in Voya Financial during the 2nd quarter worth $850,187,000. Bank of New York Mellon Corp bought a new position in Voya Financial in the 2nd quarter valued at $520,280,000. Wellington Management Group LLP increased its stake in shares of Voya Financial by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 4,492,908 shares of the asset manager’s stock valued at $334,677,000 after buying an additional 230,877 shares during the period. Pzena Investment Management LLC increased its stake in shares of Voya Financial by 1.3% in the 1st quarter. Pzena Investment Management LLC now owns 3,673,118 shares of the asset manager’s stock valued at $250,947,000 after buying an additional 46,906 shares during the period. Finally, Boston Partners raised its position in shares of Voya Financial by 1.8% during the fourth quarter. Boston Partners now owns 3,557,281 shares of the asset manager’s stock worth $265,363,000 after acquiring an additional 61,962 shares during the last quarter. Institutional investors 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.