Analysts Set Voya Financial, Inc. (NYSE:VOYA) Price Target at $83.55

Shares of Voya Financial, Inc. (NYSE:VOYA) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $83.55.

Several analysts have weighed in on the company. Morgan Stanley upgraded Voya Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $76.00 to $87.00 in a research report on Friday, February 28th. Piper Sandler lowered their price target on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Keefe, Bruyette & Woods cut their price target on shares of Voya Financial from $90.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Evercore ISI lowered their price objective on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a research note on Tuesday, December 10th. Finally, Bank of America reiterated a “neutral” rating and set a $83.00 target price (down from $91.00) on shares of Voya Financial in a report on Wednesday, December 11th.

Voya Financial Price Performance

Shares of NYSE:VOYA opened at $69.79 on Friday. The company’s fifty day moving average is $70.49 and its 200 day moving average is $74.51. The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 0.59. Voya Financial has a 52 week low of $64.10 and a 52 week high of $84.30. The stock has a market cap of $6.67 billion, a PE ratio of 11.40, a PEG ratio of 0.48 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last released its earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. Research analysts anticipate that Voya Financial will post 8.39 earnings per share for the current year.

Voya Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, February 25th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.58%. Voya Financial’s dividend payout ratio (DPR) is 29.41%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VOYA. Quest Partners LLC bought a new position in Voya Financial in the third quarter worth $322,000. Advisors Asset Management Inc. grew its position in shares of Voya Financial by 52.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 11,580 shares of the asset manager’s stock worth $917,000 after buying an additional 3,970 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Voya Financial by 1.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager’s stock worth $212,152,000 after acquiring an additional 38,438 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in Voya Financial by 15.2% during the 3rd quarter. Kingsview Wealth Management LLC now owns 28,609 shares of the asset manager’s stock valued at $2,266,000 after acquiring an additional 3,782 shares during the period. Finally, Algert Global LLC boosted its stake in Voya Financial by 5.5% during the third quarter. Algert Global LLC now owns 42,473 shares of the asset manager’s stock worth $3,365,000 after acquiring an additional 2,230 shares in the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.

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.