Voya Financial (NYSE:VOYA) Price Target Raised to $86.00

by · The Cerbat Gem

Voya Financial (NYSE:VOYA – Free Report) had its target price raised by Morgan Stanley from $70.00 to $86.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the asset manager’s stock.

VOYA has been the subject of several other reports. UBS Group reduced their target price on Voya Financial from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. cut their price objective on Voya Financial from $81.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Royal Bank of Canada decreased their price objective on shares of Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Keefe, Bruyette & Woods raised their target price on shares of Voya Financial from $80.00 to $83.00 and gave the company an “outperform” rating in a research note on Tuesday, May 13th. Finally, Bank of America reiterated an “underperform” rating and set a $71.00 target price (down from $79.00) on shares of Voya Financial in a research report on Friday, March 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $82.00.

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Voya Financial Price Performance

Shares of NYSE:VOYA opened at $66.98 on Monday. The company has a 50 day moving average of $63.02 and a 200 day moving average of $69.64. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59. The stock has a market cap of $6.44 billion, a P/E ratio of 10.94, a P/E/G ratio of 0.48 and a beta of 0.95. Voya Financial has a 12 month low of $52.43 and a 12 month high of $84.30.

Voya Financial (NYSE:VOYA – Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The asset manager reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.56. The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.94 billion. Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.77 EPS. As a group, sell-side analysts forecast that Voya Financial will post 8.39 EPS for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Tuesday, May 27th. Voya Financial’s dividend payout ratio (DPR) is presently 33.96%.

Institutional Trading of Voya Financial

Several hedge funds have recently added to or reduced their stakes in VOYA. Kelly Financial Group LLC purchased a new position in shares of Voya Financial in the first quarter worth about $270,680,000. Impax Asset Management Group plc grew its holdings in shares of Voya Financial by 277.8% in the fourth quarter. Impax Asset Management Group plc now owns 2,898,785 shares of the asset manager’s stock worth $199,062,000 after purchasing an additional 2,131,578 shares during the last quarter. Norges Bank purchased a new position in shares of Voya Financial in the fourth quarter worth $96,508,000. Price T Rowe Associates Inc. MD raised its holdings in Voya Financial by 23.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,679,580 shares of the asset manager’s stock valued at $384,849,000 after buying an additional 1,095,190 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in Voya Financial during the 4th quarter valued at $67,214,000. 96.10% of the stock is owned by institutional investors.

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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