Voya Financial’s (VOYA) “Buy (B-)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their buy (b-) rating on shares of Voya Financial (NYSE:VOYA) in a report released on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently commented on VOYA. Barclays upped their price objective on shares of Voya Financial from $81.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Voya Financial from $80.00 to $89.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. UBS Group upped their target price on shares of Voya Financial from $87.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Wells Fargo & Company upped their target price on shares of Voya Financial from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Evercore ISI upped their target price on shares of Voya Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 13th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.00.

Voya Financial Price Performance

VOYA opened at $72.66 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.44. Voya Financial has a 12 month low of $52.43 and a 12 month high of $84.30. The company has a fifty day simple moving average of $74.76 and a 200 day simple moving average of $69.10. The stock has a market cap of $7.01 billion, a P/E ratio of 14.53, a P/E/G ratio of 0.55 and a beta of 0.98.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, August 5th. The asset manager reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.31. Voya Financial had a net margin of 6.73% and a return on equity of 13.72%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the company earned $2.18 EPS. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. On average, research analysts expect that Voya Financial will post 8.39 EPS for the current year.

Voya Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Tuesday, August 26th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, August 26th. Voya Financial’s dividend payout ratio is currently 36.00%.

Hedge Funds Weigh In On Voya Financial

Large investors have recently modified their holdings of the business. IFP Advisors Inc boosted its stake in shares of Voya Financial by 225.6% during the 2nd quarter. IFP Advisors Inc now owns 433 shares of the asset manager’s stock worth $31,000 after buying an additional 300 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Voya Financial by 149.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 481 shares of the asset manager’s stock worth $34,000 after buying an additional 288 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Voya Financial by 625.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager’s stock worth $39,000 after buying an additional 475 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Voya Financial during the 1st quarter worth about $47,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Voya Financial by 44.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock worth $49,000 after buying an additional 223 shares during 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.