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

Shares of Voya Financial, Inc. (NYSE:VOYA) have earned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $85.00.

Several equities analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Voya Financial in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their price target on Voya Financial from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their price target on Voya Financial from $83.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Royal Bank Of Canada lifted their price objective on Voya Financial from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Finally, UBS Group lifted their price objective on Voya Financial from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th.

Hedge Funds Weigh In On Voya Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc increased its position in Voya Financial by 225.6% during the second quarter. IFP Advisors Inc now owns 433 shares of the asset manager’s stock worth $31,000 after purchasing an additional 300 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew 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 valued at $34,000 after buying an additional 288 shares during the period. EverSource Wealth Advisors LLC grew 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 valued at $39,000 after buying an additional 475 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Voya Financial in the first quarter valued at $47,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Voya Financial by 44.0% in the first quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock valued at $49,000 after acquiring an additional 223 shares during the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.

Voya Financial Stock Performance

NYSE VOYA opened at $73.75 on Tuesday. Voya Financial has a fifty-two week low of $52.43 and a fifty-two week high of $84.30. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 0.54 and a beta of 0.98. The business has a fifty day moving average of $74.87 and a 200-day moving average of $69.14. 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 (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, August 5th. The asset manager reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.31. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Voya Financial had a return on equity of 13.72% and a net margin of 6.73%.The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.18 EPS. As a group, analysts predict that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Tuesday, August 26th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, August 26th. Voya Financial’s dividend payout ratio is presently 36.00%.

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.