Voya Financial, Inc. (NYSE:VOYA) Receives $94.27 Average Price Target from Analysts

Shares of Voya Financial, Inc. (NYSE:VOYA) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $97.6923.

Several equities analysts have recently issued reports on VOYA shares. Jefferies Financial Group upped their price target on Voya Financial from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Weiss Ratings upgraded Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 5th. Atlantic Securities set a $79.00 target price on shares of Voya Financial in a research note on Wednesday. TD Cowen lifted their price target on shares of Voya Financial from $100.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, Barclays boosted their price target on shares of Voya Financial from $98.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th.

Voya Financial Trading Up 0.3%

VOYA opened at $98.56 on Thursday. Voya Financial has a 1-year low of $64.50 and a 1-year high of $99.50. The stock has a market capitalization of $8.94 billion, a PE ratio of 14.89, a PEG ratio of 0.91 and a beta of 0.91. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $87.94 and a two-hundred day moving average price of $78.36.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.24. Voya Financial had a net margin of 8.24% and a return on equity of 13.84%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the business posted $2.00 earnings per share. Voya Financial’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Voya Financial will post 9.45 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 annualized dividend and a dividend yield of 1.9%. Voya Financial’s payout ratio is presently 28.40%.

Insider Buying and Selling at Voya Financial

In other news, insider Trevor Ogle sold 3,994 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $90.00, for a total value of $359,460.00. Following the transaction, the insider owned 2,887 shares of the company’s stock, valued at $259,830. This represents a 58.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Voya Financial

Several hedge funds have recently added to or reduced their stakes in VOYA. Allworth Financial LP raised its position in shares of Voya Financial by 75.5% during the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock worth $26,000 after purchasing an additional 151 shares during the period. Four Tree Island Advisory LLC grew its position in shares of Voya Financial by 0.5% in the 4th quarter. Four Tree Island Advisory LLC now owns 32,532 shares of the asset manager’s stock valued at $2,423,000 after purchasing an additional 174 shares during the period. Root Financial Partners LLC increased its stake in Voya Financial by 59.6% during the 1st 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. GAMMA Investing LLC raised its holdings in Voya Financial by 7.8% during the 4th quarter. GAMMA Investing LLC now owns 2,976 shares of the asset manager’s stock worth $222,000 after buying an additional 216 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in Voya Financial by 56.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 612 shares of the asset manager’s stock worth $46,000 after buying an additional 222 shares during the period. Institutional investors and hedge funds 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.