Voya Financial (NYSE:VOYA) Price Target Raised to $110.00

Voya Financial (NYSE:VOYA) had its price objective boosted by Keefe, Bruyette & Woods from $109.00 to $110.00 in a report issued on Tuesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the asset manager’s stock.

Several other research analysts have also weighed in on VOYA. UBS Group lifted their price objective on shares of Voya Financial from $95.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Raymond James Financial upgraded shares of Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 target price on the stock in a report on Monday, June 8th. Bank of America cut their target price on shares of Voya Financial from $72.00 to $70.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Royal Bank Of Canada lifted their price target on shares of Voya Financial from $107.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their price target on shares of Voya Financial from $89.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.54.

Voya Financial Trading Up 1.6%

NYSE VOYA opened at $101.09 on Tuesday. The stock has a 50-day simple moving average of $95.53 and a 200 day simple moving average of $81.82. The company has a market capitalization of $9.16 billion, a PE ratio of 17.05, a P/E/G ratio of 0.95 and a beta of 0.89. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51. Voya Financial has a 12 month low of $64.50 and a 12 month high of $103.85.

Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, August 4th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.47). The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.90 billion. Voya Financial had a return on equity of 12.31% and a net margin of 7.45%.Voya Financial’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.66 EPS. Research analysts forecast that Voya Financial will post 9.3 EPS for the current year.

Voya Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Wednesday, August 26th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, August 26th. Voya Financial’s dividend payout ratio is currently 31.70%.

Insider Activity

In related news, insider Trevor Ogle sold 3,994 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $90.00, for a total transaction of $359,460.00. Following the completion of the transaction, the insider directly owned 2,887 shares in the company, valued at approximately $259,830. This trade represents a 58.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On Voya Financial

A number of large investors have recently bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of Voya Financial by 21.7% during the 1st quarter. Royal Bank of Canada now owns 84,715 shares of the asset manager’s stock worth $5,741,000 after acquiring an additional 15,091 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Voya Financial by 8.4% in the first quarter. Goldman Sachs Group Inc. now owns 662,058 shares of the asset manager’s stock valued at $44,861,000 after purchasing an additional 51,376 shares in the last quarter. Empowered Funds LLC grew its position in Voya Financial by 13.5% in the first quarter. Empowered Funds LLC now owns 37,836 shares of the asset manager’s stock valued at $2,564,000 after purchasing an additional 4,490 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Voya Financial by 1.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,144 shares of the asset manager’s stock valued at $25,081,000 after buying an additional 6,127 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Voya Financial by 44.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock valued at $49,000 after buying an additional 223 shares during the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.

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.