Analysts Set Voya Financial, Inc. (NYSE:VOYA) Target Price at $86.00

Shares of Voya Financial, Inc. (NYSE:VOYA) have earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $86.00.

A number of analysts have issued reports on VOYA shares. Piper Sandler raised their price target on Voya Financial from $88.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of Voya Financial from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Royal Bank of Canada upped their price target on shares of Voya Financial from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. cut Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 target price on the stock. in a report on Thursday, October 3rd. Finally, Bank of America increased their target price on shares of Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th.

Voya Financial Price Performance

VOYA stock opened at $81.68 on Friday. The stock’s 50 day moving average price is $79.93 and its 200 day moving average price is $74.43. The firm has a market cap of $7.86 billion, a P/E ratio of 13.01, a PEG ratio of 0.57 and a beta of 1.03. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.31 and a current ratio of 0.31. Voya Financial has a 1 year low of $63.11 and a 1 year high of $84.30.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.07. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 EPS. On average, sell-side analysts expect that Voya Financial will post 8.2 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, November 26th. This represents a $1.80 annualized dividend and a dividend yield of 2.20%. Voya Financial’s dividend payout ratio is presently 28.66%.

Insider Transactions at Voya Financial

In other news, insider Tony D. Oh sold 715 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total transaction of $58,594.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Institutional Trading of Voya Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Coldstream Capital Management Inc. grew its position in shares of Voya Financial by 8.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,591 shares of the asset manager’s stock worth $285,000 after acquiring an additional 270 shares in the last quarter. Barclays PLC boosted its holdings in shares of Voya Financial by 48.2% during the third quarter. Barclays PLC now owns 48,890 shares of the asset manager’s stock valued at $3,872,000 after acquiring an additional 15,902 shares during the period. LRI Investments LLC boosted its stake in Voya Financial by 780.5% during the 3rd quarter. LRI Investments LLC now owns 1,039 shares of the asset manager’s stock valued at $85,000 after purchasing an additional 921 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Voya Financial by 2.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 39,625 shares of the asset manager’s stock worth $3,139,000 after buying an additional 990 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new position in shares of Voya Financial during the third quarter valued at $344,000. 96.10% of the stock is owned by institutional investors.

Voya Financial Company Profile

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.