Voya Financial, Inc. (NYSE:VOYA) Receives $86.50 Consensus Target Price from Brokerages

Voya Financial, Inc. (NYSE:VOYA) has been assigned a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $85.67.

VOYA has been the topic of several analyst reports. Wells Fargo & Company reduced their target price on Voya Financial from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, December 10th. JPMorgan Chase & Co. lowered shares of Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price objective on the stock. in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods lowered their target price on shares of Voya Financial from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Tuesday, December 10th. Evercore ISI cut their price target on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 10th. Finally, Piper Sandler increased their price target on Voya Financial from $88.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th.

Voya Financial Price Performance

Shares of NYSE:VOYA opened at $68.07 on Wednesday. The firm has a market cap of $6.55 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 0.54 and a beta of 1.02. Voya Financial has a 52 week low of $63.11 and a 52 week high of $84.30. The firm’s fifty day moving average is $80.21 and its 200-day moving average is $75.02. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.31 and a current ratio of 0.31.

Voya Financial (NYSE:VOYA) last announced its earnings results on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, topping the consensus estimate of $2.05 by $0.07. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.86 billion. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 EPS. Sell-side analysts predict that Voya Financial will post 8.09 earnings per share for the current year.

Voya Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Tuesday, November 26th. Voya Financial’s dividend payout ratio (DPR) is currently 28.66%.

Insider Buying and Selling at Voya Financial

In related news, insider Tony D. Oh sold 715 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total value of $58,594.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Voya Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Voya Financial by 25.9% in the third quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock worth $228,474,000 after purchasing an additional 592,523 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Voya Financial by 1.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager’s stock worth $212,152,000 after buying an additional 38,438 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Voya Financial by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock valued at $146,234,000 after buying an additional 248,795 shares during the last quarter. AQR Capital Management LLC lifted its stake in Voya Financial by 29.6% during the 2nd quarter. AQR Capital Management LLC now owns 651,803 shares of the asset manager’s stock valued at $46,376,000 after acquiring an additional 148,810 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Voya Financial by 7.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 562,355 shares of the asset manager’s stock valued at $40,011,000 after acquiring an additional 37,760 shares in the last quarter. Institutional investors and hedge funds 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.