Voya Financial (NYSE:VOYA) Given New $79.00 Price Target at Jefferies Financial Group

Voya Financial (NYSE:VOYA) had its target price raised by Jefferies Financial Group from $76.00 to $79.00 in a report released on Friday morning, Benzinga reports. They currently have a hold rating on the asset manager’s stock.

VOYA has been the subject of several other research reports. Wells Fargo & Company boosted their price target on shares of Voya Financial from $91.00 to $92.00 and gave the stock an overweight rating in a report on Friday, May 10th. Morgan Stanley reduced their price objective on shares of Voya Financial from $79.00 to $78.00 and set an overweight rating for the company in a research report on Friday, March 1st. Piper Sandler boosted their price objective on shares of Voya Financial from $78.00 to $86.00 and gave the stock an overweight rating in a research report on Friday, April 5th. Finally, Evercore ISI boosted their price objective on shares of Voya Financial from $79.00 to $80.00 and gave the stock an outperform rating in a research report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Voya Financial has a consensus rating of Moderate Buy and an average target price of $83.89.

Voya Financial Trading Down 0.2 %

Shares of VOYA stock opened at $71.15 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market capitalization of $7.16 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 0.50 and a beta of 1.07. The company has a 50 day moving average price of $72.66 and a 200 day moving average price of $71.53. Voya Financial has a fifty-two week low of $63.02 and a fifty-two week high of $77.00.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, April 30th. The asset manager reported $1.88 EPS for the quarter, topping the consensus estimate of $1.58 by $0.30. Voya Financial had a net margin of 10.48% and a return on equity of 16.74%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business posted $1.69 EPS. The firm’s revenue was up 11.8% on a year-over-year basis. Equities research analysts predict that Voya Financial will post 8.53 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Tuesday, May 28th were given a $0.40 dividend. The ex-dividend date was Friday, May 24th. This represents a $1.60 annualized dividend and a yield of 2.25%. Voya Financial’s dividend payout ratio (DPR) is 22.73%.

Insider Activity at Voya Financial

In related news, Director Yvette S. Butler sold 2,165 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $73.78, for a total value of $159,733.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Voya Financial

A number of large investors have recently bought and sold shares of the company. Boston Partners raised its position in Voya Financial by 83.8% during the 1st quarter. Boston Partners now owns 2,525,604 shares of the asset manager’s stock worth $186,310,000 after buying an additional 1,151,822 shares during the last quarter. PGGM Investments raised its position in Voya Financial by 1.9% during the 1st quarter. PGGM Investments now owns 39,593 shares of the asset manager’s stock worth $2,927,000 after buying an additional 753 shares during the last quarter. Algebris UK Ltd purchased a new position in Voya Financial during the 1st quarter worth $10,362,000. iA Global Asset Management Inc. raised its position in Voya Financial by 11.0% during the 1st quarter. iA Global Asset Management Inc. now owns 14,701 shares of the asset manager’s stock worth $1,087,000 after buying an additional 1,457 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in Voya Financial during the 1st quarter worth $515,000. Hedge funds and other 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.