Voya Financial, Inc. (NYSE:VOYA) Given Average Recommendation of “Moderate Buy” by Analysts

Voya Financial, Inc. (NYSE:VOYA) has received an average recommendation of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $83.44.

Several brokerages have issued reports on VOYA. Evercore ISI increased their price objective on shares of Voya Financial from $79.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Wells Fargo & Company boosted their price target on shares of Voya Financial from $91.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Morgan Stanley dropped their target price on shares of Voya Financial from $79.00 to $78.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Finally, Piper Sandler upped their target price on Voya Financial from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, April 5th.

Insider Activity

In other news, Director Yvette S. Butler sold 2,165 shares of Voya Financial stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $73.78, for a total transaction of $159,733.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Voya Financial

Several institutional investors have recently made changes to their positions in VOYA. Price T Rowe Associates Inc. MD lifted its holdings in shares of Voya Financial by 1,020.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,368,185 shares of the asset manager’s stock valued at $175,057,000 after buying an additional 2,156,773 shares during the last quarter. Boston Partners raised its stake 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 acquiring an additional 1,151,822 shares in the last quarter. Norges Bank bought a new position in shares of Voya Financial in the 4th quarter valued at approximately $80,749,000. Vanguard Group Inc. raised its stake in shares of Voya Financial by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,465,556 shares of the asset manager’s stock valued at $695,436,000 after acquiring an additional 752,851 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Voya Financial by 405.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 314,293 shares of the asset manager’s stock valued at $20,885,000 after acquiring an additional 252,087 shares in the last quarter. 96.10% of the stock is currently owned by institutional investors and hedge funds.

Voya Financial Trading Down 0.1 %

Shares of VOYA stock opened at $72.85 on Wednesday. The firm has a market cap of $7.34 billion, a P/E ratio of 10.35, a PEG ratio of 0.51 and a beta of 1.07. Voya Financial has a 1-year low of $63.02 and a 1-year high of $77.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.30 and a quick ratio of 0.30. The firm’s 50-day simple moving average is $72.20 and its 200-day simple moving average is $71.52.

Voya Financial (NYSE:VOYA) last posted its earnings results on Tuesday, April 30th. The asset manager reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.30. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.80 billion. Voya Financial had a net margin of 10.48% and a return on equity of 16.74%. The company’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.69 EPS. As a group, equities analysts forecast that Voya Financial will post 8.53 EPS for the current year.

Voya Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, May 24th. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. Voya Financial’s payout ratio is presently 22.73%.

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.