Voya Financial (NYSE:VOYA) Sets New 12-Month High – What’s Next?

Voya Financial, Inc. (NYSE:VOYA) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $93.43 and last traded at $93.3840, with a volume of 178690 shares trading hands. The stock had previously closed at $90.53.

Analyst Ratings Changes

A number of research firms recently weighed in on VOYA. Barclays lifted their target price on Voya Financial from $89.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Royal Bank Of Canada raised their price objective on Voya Financial from $87.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Weiss Ratings raised Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 5th. TD Cowen initiated coverage on Voya Financial in a research report on Monday, April 20th. They set a “buy” rating and a $100.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on Voya Financial from $80.00 to $89.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.73.

Voya Financial Trading Up 2.9%

The company has a 50 day moving average of $84.26 and a 200 day moving average of $76.70. 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 market cap of $8.45 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 0.82 and a beta of 0.92.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, May 5th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.24. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.98 billion. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.00 earnings per share. As a group, research analysts anticipate that Voya Financial, Inc. will post 9.6 EPS for the current year.

Voya Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, May 26th were paid a $0.47 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.0%. Voya Financial’s payout ratio is 28.40%.

Insider Activity at Voya Financial

In related news, insider Trevor Ogle sold 3,994 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $90.00, for a total transaction of $359,460.00. Following the sale, the insider directly owned 2,887 shares in the company, valued at $259,830. This represents a 58.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Redwood Investment Management LLC acquired a new stake in Voya Financial in the 1st quarter valued at about $1,048,000. Amundi raised its position in Voya Financial by 811.1% in the 1st quarter. Amundi now owns 44,983 shares of the asset manager’s stock worth $3,073,000 after purchasing an additional 40,046 shares during the last quarter. California State Teachers Retirement System boosted its position in Voya Financial by 24.8% in the 1st quarter. California State Teachers Retirement System now owns 113,207 shares of the asset manager’s stock valued at $7,734,000 after buying an additional 22,484 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Voya Financial by 12.8% in the 1st quarter. Empowered Funds LLC now owns 48,204 shares of the asset manager’s stock valued at $3,293,000 after buying an additional 5,458 shares during the period. Finally, Quantinno Capital Management LP increased its stake in shares of Voya Financial by 6.8% in the 1st quarter. Quantinno Capital Management LP now owns 237,550 shares of the asset manager’s stock valued at $16,229,000 after buying an additional 15,186 shares during the period. 96.10% of the stock is owned by institutional investors.

Voya Financial Company Profile

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.