Brokerages Set Voya Financial, Inc. (NYSE:VOYA) Price Target at $83.70

Voya Financial, Inc. (NYSE:VOYA) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $85.00.

VOYA has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Voya Financial from $83.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company increased their price objective on shares of Voya Financial from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Voya Financial from $80.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Morgan Stanley raised their price target on Voya Financial from $90.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Evercore ISI raised their price target on Voya Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. boosted its position in Voya Financial by 142.9% in the 1st quarter. Bessemer Group Inc. now owns 1,343 shares of the asset manager’s stock valued at $91,000 after buying an additional 790 shares during the period. Principal Financial Group Inc. grew its stake in shares of Voya Financial by 0.3% in the first quarter. Principal Financial Group Inc. now owns 221,385 shares of the asset manager’s stock worth $15,001,000 after acquiring an additional 574 shares in the last quarter. FORA Capital LLC acquired a new position in shares of Voya Financial in the first quarter worth $894,000. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Voya Financial in the first quarter worth $385,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Voya Financial by 1,305.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 166,913 shares of the asset manager’s stock worth $11,340,000 after purchasing an additional 155,038 shares in the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Trading Up 0.2%

Shares of Voya Financial stock opened at $74.49 on Tuesday. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 0.55 and a beta of 0.98. Voya Financial has a fifty-two week low of $52.43 and a fifty-two week high of $84.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a 50 day moving average of $74.65 and a 200 day moving average of $69.08.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Tuesday, August 5th. The asset manager reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.31. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Voya Financial had a return on equity of 13.72% and a net margin of 6.73%.The company’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.18 EPS. As a group, research analysts predict that Voya Financial will post 8.39 earnings per share for the current year.

Voya Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Tuesday, August 26th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Tuesday, August 26th. Voya Financial’s dividend payout ratio (DPR) is 36.00%.

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.