Voya Financial (NYSE:VOYA) Price Target Increased to $90.00 by Analysts at Wells Fargo & Company

Voya Financial (NYSE:VOYA) had its price target boosted by Wells Fargo & Company from $87.00 to $90.00 in a research report released on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the asset manager’s stock.

Several other research firms have also recently commented on VOYA. Morgan Stanley lowered their price target 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. Barclays upped their price target on shares of Voya Financial from $84.00 to $85.00 and gave the company an overweight rating in a report on Tuesday. Piper Sandler upped their price objective on shares of Voya Financial from $84.00 to $88.00 and gave the company an overweight rating in a research report on Wednesday, October 2nd. Evercore ISI increased their price target on shares of Voya Financial from $79.00 to $82.00 and gave the stock an outperform rating in a research report on Wednesday, September 11th. Finally, Bank of America raised their price objective on shares of Voya Financial from $80.00 to $83.00 and gave the stock a buy rating in a report on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $84.64.

Voya Financial Stock Down 0.1 %

Shares of Voya Financial stock opened at $79.13 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $72.32 and a 200 day moving average price of $72.14. Voya Financial has a fifty-two week low of $63.02 and a fifty-two week high of $80.16. The firm has a market cap of $7.78 billion, a P/E ratio of 10.43, a P/E/G ratio of 0.59 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Tuesday, July 30th. The asset manager reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.13. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.87 billion. Voya Financial had a return on equity of 16.11% and a net margin of 10.87%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.31 earnings per share. On average, sell-side analysts forecast that Voya Financial will post 8.37 earnings per share for the current fiscal year.

Voya Financial Increases Dividend

The firm 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. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $1.80 annualized dividend and a dividend yield of 2.27%. This is an increase from Voya Financial’s previous quarterly dividend of $0.40. Voya Financial’s dividend payout ratio (DPR) is presently 23.72%.

Institutional Investors Weigh In On Voya Financial

A number of large investors have recently bought and sold shares of VOYA. Gillson Capital LP purchased a new position in shares of Voya Financial in the fourth quarter worth about $11,142,000. FORA Capital LLC raised its holdings in Voya Financial by 94.1% during the 1st quarter. FORA Capital LLC now owns 28,175 shares of the asset manager’s stock valued at $2,083,000 after buying an additional 13,662 shares during the last quarter. Empowered Funds LLC raised its holdings in Voya Financial by 149.4% during the 1st quarter. Empowered Funds LLC now owns 25,399 shares of the asset manager’s stock valued at $1,877,000 after buying an additional 15,216 shares during the last quarter. Capstone Investment Advisors LLC raised its holdings in Voya Financial by 348.4% during the 1st quarter. Capstone Investment Advisors LLC now owns 17,993 shares of the asset manager’s stock valued at $1,330,000 after buying an additional 13,980 shares during the last quarter. Finally, M&G Plc raised its holdings in Voya Financial by 18.6% in the 2nd quarter. M&G Plc now owns 117,706 shares of the asset manager’s stock worth $8,357,000 after purchasing an additional 18,471 shares in the last quarter. 96.10% of the stock is currently owned by institutional investors and hedge funds.

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.