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

Voya Financial, Inc. (NYSE:VOYA) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $83.45.

A number of equities research analysts have recently commented on VOYA shares. Morgan Stanley reduced their target price on shares of Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Wells Fargo & Company decreased their target price on shares of Voya Financial from $91.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group upped their price target on Voya Financial from $78.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Piper Sandler reiterated an “overweight” rating and set a $84.00 price objective on shares of Voya Financial in a research report on Monday, September 23rd. Finally, Bank of America boosted their price objective on Voya Financial from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of VOYA. SYSTM Wealth Solutions LLC raised its stake in shares of Voya Financial by 56.2% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 149 shares during the period. FinTrust Capital Advisors LLC purchased a new position in shares of Voya Financial during the first quarter worth $43,000. Allspring Global Investments Holdings LLC grew its stake in shares of Voya Financial by 6,850.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock valued at $62,000 after buying an additional 822 shares in the last quarter. Quarry LP purchased a new stake in shares of Voya Financial in the 2nd quarter valued at $61,000. Finally, Mather Group LLC. acquired a new position in Voya Financial during the 1st quarter worth about $85,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Price Performance

NYSE:VOYA opened at $78.51 on Friday. The stock has a 50 day moving average of $71.30 and a two-hundred day moving average of $71.72. Voya Financial has a 12 month low of $63.02 and a 12 month high of $79.69. The firm has a market cap of $7.91 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 0.58 and a beta of 1.03. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, July 30th. The asset manager reported $2.27 EPS for the quarter, topping the consensus estimate of $2.14 by $0.13. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Voya Financial had a return on equity of 16.11% and a net margin of 10.87%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 earnings per share. On average, analysts expect that Voya Financial will post 8.45 earnings per share for the current fiscal year.

Voya Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, August 27th were issued a $0.45 dividend. This is a positive change from Voya Financial’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.29%. The ex-dividend date was Tuesday, August 27th. Voya Financial’s payout ratio is 25.57%.

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.