Voya Financial, Inc. (NYSE:VOYA) Receives $83.45 Average Price Target from Analysts

Shares of Voya Financial, Inc. (NYSE:VOYA) have earned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $83.45.

VOYA has been the subject of several research reports. Raymond James downgraded shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, September 13th. Bank of America boosted their target price on shares of Voya Financial from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Barclays initiated coverage on shares of Voya Financial in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $84.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $83.00 price objective on shares of Voya Financial in a report on Wednesday, August 7th. Finally, Piper Sandler restated an “overweight” rating and issued a $84.00 target price on shares of Voya Financial in a report on Monday, September 23rd.

Institutional Investors Weigh In On Voya Financial

Several institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC lifted its stake in Voya Financial by 74.6% in the 4th quarter. Hsbc Holdings PLC now owns 165,902 shares of the asset manager’s stock worth $12,104,000 after purchasing an additional 70,877 shares in the last quarter. Stifel Financial Corp increased its stake in Voya Financial by 7.5% in the 4th quarter. Stifel Financial Corp now owns 63,950 shares of the asset manager’s stock worth $4,666,000 after acquiring an additional 4,450 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Voya Financial by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 44,817 shares of the asset manager’s stock valued at $3,270,000 after acquiring an additional 426 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Voya Financial in the 4th quarter valued at about $293,000. Finally, Crestline Management LP purchased a new position in shares of Voya Financial during the fourth quarter worth about $1,554,000. 96.10% of the stock is owned by hedge funds and other institutional investors.

Voya Financial Stock Down 0.2 %

Shares of NYSE VOYA opened at $78.49 on Friday. Voya Financial has a 12-month low of $63.02 and a 12-month high of $79.69. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.51. The firm has a market cap of $7.72 billion, a PE ratio of 11.15, a P/E/G ratio of 0.57 and a beta of 1.03. The company’s fifty day simple moving average is $71.15 and its 200 day simple moving average is $71.65.

Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, July 30th. The asset manager reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.13. Voya Financial had a return on equity of 16.11% and a net margin of 10.87%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company posted $2.31 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Voya Financial will post 8.45 earnings per share for the current fiscal year.

Voya Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, August 27th were paid a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This is a positive change from Voya Financial’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.29%. Voya Financial’s payout ratio is presently 25.57%.

About Voya Financial

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.