Voya Financial (NYSE:VOYA) Hits New 1-Year High – Here’s What Happened

Voya Financial, Inc. (NYSE:VOYA)’s share price hit a new 52-week high on Tuesday . The company traded as high as $92.86 and last traded at $92.8690, with a volume of 116518 shares. The stock had previously closed at $92.36.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on VOYA shares. JPMorgan Chase & Co. reduced their price objective on Voya Financial from $89.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, May 26th. Barclays increased their target price on Voya Financial from $89.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Morgan Stanley boosted their price target on shares of Voya Financial from $84.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. TD Cowen assumed coverage on shares of Voya Financial in a research report on Monday, April 20th. They set a “buy” rating and a $100.00 price target for the company. Finally, Royal Bank Of Canada increased their price objective on shares of Voya Financial from $87.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.73.

Voya Financial Stock Performance

The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 0.82 and a beta of 0.92. The company has a 50-day moving average price of $82.08 and a 200-day moving average price of $75.87. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.48.

Voya Financial (NYSE:VOYA) last posted its earnings results on Tuesday, May 5th. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $2.02 by $0.24. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.The firm’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the firm earned $2.00 EPS. As a group, equities research analysts forecast that Voya Financial, Inc. will post 9.6 earnings per share for the current year.

Voya Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, May 26th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, May 26th. Voya Financial’s dividend payout ratio (DPR) is 28.40%.

Insider Buying and Selling at Voya Financial

In related news, insider Trevor Ogle sold 3,994 shares of Voya Financial stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $90.00, for a total transaction of $359,460.00. Following the sale, the insider directly owned 2,887 shares in the company, valued at $259,830. The trade was a 58.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Voya Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP raised its position in shares of Voya Financial by 75.5% during the 3rd quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock worth $26,000 after buying an additional 151 shares in the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Voya Financial in the fourth quarter valued at approximately $28,000. V Square Quantitative Management LLC acquired a new position in shares of Voya Financial during the fourth quarter valued at approximately $33,000. Systematic Financial Management LP acquired a new position in shares of Voya Financial during the fourth quarter valued at approximately $37,000. Finally, Root Financial Partners LLC raised its holdings in Voya Financial by 59.6% during the first quarter. Root Financial Partners LLC now owns 573 shares of the asset manager’s stock worth $39,000 after purchasing an additional 214 shares in the last quarter. Institutional investors own 96.10% of the company’s stock.

About Voya Financial

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.