Voya Financial (NYSE:VOYA) Price Target Raised to $88.00

by · The Markets Daily

Voya Financial (NYSE:VOYA – Free Report) had its price objective lifted by Bank of America from $84.00 to $88.00 in a research report sent to investors on Thursday morning, Benzinga reports. Bank of America currently has a buy rating on the asset manager’s stock.

Several other analysts have also issued reports on VOYA. Morgan Stanley reduced their price objective on shares of Voya Financial from $76.00 to $75.00 and set an equal weight rating on the stock in a report on Monday, August 19th. Jefferies Financial Group increased their price objective on shares of Voya Financial from $78.00 to $80.00 and gave the stock a hold rating in a research report on Thursday, July 18th. Citigroup boosted their target price on Voya Financial from $86.00 to $91.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. Evercore ISI raised their price target on Voya Financial from $79.00 to $82.00 and gave the stock an outperform rating in a research report on Wednesday, September 11th. Finally, Wells Fargo & Company lifted their price objective on Voya Financial from $87.00 to $90.00 and gave the company an overweight rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $85.27.

Get Our Latest Research Report on VOYA

Voya Financial Trading Up 0.9 %

Shares of VOYA stock opened at $79.84 on Thursday. Voya Financial has a fifty-two week low of $63.02 and a fifty-two week high of $80.36. The firm has a market capitalization of $7.85 billion, a P/E ratio of 10.52, a PEG ratio of 0.59 and a beta of 1.03. The stock’s fifty day moving average is $72.56 and its two-hundred day moving average is $72.19. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.30.

Voya Financial (NYSE:VOYA – Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The asset manager reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.13. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. Voya Financial’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.31 EPS. Research analysts expect that Voya Financial will post 8.31 earnings per share for the current fiscal year.

Voya Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, August 27th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, August 27th. This is a boost from Voya Financial’s previous quarterly dividend of $0.40. Voya Financial’s dividend payout ratio is 23.72%.

Institutional Trading of Voya Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Voya Financial by 1,020.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,368,185 shares of the asset manager’s stock worth $175,057,000 after purchasing an additional 2,156,773 shares in the last quarter. Boston Partners lifted its holdings in shares of Voya Financial by 83.8% in the 1st quarter. Boston Partners now owns 2,525,604 shares of the asset manager’s stock valued at $186,310,000 after buying an additional 1,151,822 shares during the period. Vanguard Group Inc. boosted its stake in shares of Voya Financial by 6.2% in the first quarter. Vanguard Group Inc. now owns 11,067,291 shares of the asset manager’s stock valued at $818,094,000 after buying an additional 644,216 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Voya Financial by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock valued at $146,234,000 after acquiring an additional 248,795 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Voya Financial during the 2nd quarter worth $13,013,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Company Profile

(Get Free Report)

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.

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