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

Voya Financial, Inc. (NYSE:VOYA) has earned an average recommendation of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $83.33.

VOYA has been the subject of several analyst reports. The Goldman Sachs Group reissued a “neutral” rating and set a $82.00 price target on shares of Voya Financial in a research report on Monday, January 8th. Evercore ISI increased their price objective on Voya Financial from $79.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Morgan Stanley decreased their target price on Voya Financial from $79.00 to $78.00 and set an “overweight” rating for the company in a research report on Friday, March 1st. Wells Fargo & Company upped their target price on shares of Voya Financial from $85.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Royal Bank of Canada dropped their price target on shares of Voya Financial from $85.00 to $83.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th.

Voya Financial Trading Up 0.9 %

Voya Financial stock opened at $70.75 on Tuesday. Voya Financial has a 12 month low of $63.02 and a 12 month high of $77.00. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 10.05, a price-to-earnings-growth ratio of 0.52 and a beta of 1.06. The business’s fifty day simple moving average is $69.80 and its two-hundred day simple moving average is $70.40. 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 announced its quarterly earnings results on Tuesday, April 30th. The asset manager reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.30. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Voya Financial had a net margin of 10.48% and a return on equity of 16.74%. Voya Financial’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.69 EPS. As a group, equities analysts predict that Voya Financial will post 8.43 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Tuesday, May 28th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.60 annualized dividend and a yield of 2.26%. Voya Financial’s payout ratio is presently 22.73%.

Institutional Investors Weigh In On Voya Financial

A number of hedge funds have recently modified their holdings of VOYA. Vanguard Group Inc. grew its holdings in Voya Financial by 7.8% during the third quarter. Vanguard Group Inc. now owns 10,465,556 shares of the asset manager’s stock valued at $695,436,000 after purchasing an additional 752,851 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Voya Financial by 2.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 1,610,199 shares of the asset manager’s stock worth $115,621,000 after acquiring an additional 40,000 shares in the last quarter. Norges Bank purchased a new stake in Voya Financial in the 4th quarter worth approximately $80,749,000. Charles Schwab Investment Management Inc. raised its stake in Voya Financial by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 681,329 shares of the asset manager’s stock worth $49,710,000 after acquiring an additional 18,316 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its holdings in Voya Financial by 1,722.3% during the third quarter. Jupiter Asset Management Ltd. now owns 612,754 shares of the asset manager’s stock valued at $40,718,000 after purchasing an additional 579,128 shares in the last quarter. Institutional investors own 96.10% of the company’s stock.

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.