Voya Financial, Inc. (NYSE:VOYA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Voya Financial, Inc. (NYSE:VOYA) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $83.44.

VOYA has been the subject of several recent research reports. Evercore ISI boosted their price objective on Voya Financial from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Morgan Stanley decreased their price objective on Voya Financial from $79.00 to $78.00 and set an “overweight” rating for the company in a report on Friday, March 1st. Wells Fargo & Company boosted their price objective on Voya Financial from $91.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Finally, Piper Sandler boosted their price objective on Voya Financial from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, April 5th.

Voya Financial Stock Performance

Voya Financial stock opened at $72.25 on Wednesday. Voya Financial has a 12-month low of $63.02 and a 12-month high of $77.00. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $71.98 and its two-hundred day moving average price is $71.50. The stock has a market cap of $7.28 billion, a PE ratio of 10.26, a P/E/G ratio of 0.50 and a beta of 1.07.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Tuesday, April 30th. The asset manager reported $1.88 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 16.74% and a net margin of 10.48%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.69 earnings per share. As a group, analysts expect that Voya Financial will post 8.53 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Tuesday, May 28th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.60 annualized dividend and a yield of 2.21%. Voya Financial’s payout ratio is 22.73%.

Insiders Place Their Bets

In other Voya Financial news, Director Yvette S. Butler sold 2,165 shares of Voya Financial stock in a transaction on Friday, May 24th. The stock was sold at an average price of $73.78, for a total transaction of $159,733.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.37% of the company’s stock.

Institutional Trading of Voya Financial

Several large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in Voya Financial by 1,020.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,368,185 shares of the asset manager’s stock valued at $175,057,000 after purchasing an additional 2,156,773 shares during the period. Boston Partners boosted its stake in shares of Voya Financial by 83.8% in the first quarter. Boston Partners now owns 2,525,604 shares of the asset manager’s stock worth $186,310,000 after acquiring an additional 1,151,822 shares during the period. Norges Bank bought a new position in shares of Voya Financial in the fourth quarter worth about $80,749,000. Vanguard Group Inc. boosted its stake in shares of Voya Financial by 7.8% in the third quarter. Vanguard Group Inc. now owns 10,465,556 shares of the asset manager’s stock worth $695,436,000 after acquiring an additional 752,851 shares during the period. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Voya Financial by 405.2% in the third quarter. Qube Research & Technologies Ltd now owns 314,293 shares of the asset manager’s stock worth $20,885,000 after acquiring an additional 252,087 shares during the period. Institutional investors own 96.10% of the company’s stock.

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.