Barclays Boosts Voya Financial (NYSE:VOYA) Price Target to $85.00

Voya Financial (NYSE:VOYA) had its target price lifted by Barclays from $84.00 to $85.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an overweight rating on the asset manager’s stock.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler upped their target price on shares of Voya Financial from $84.00 to $88.00 and gave the company an overweight rating in a report on Wednesday, October 2nd. Jefferies Financial Group upped their target price on shares of Voya Financial from $78.00 to $80.00 and gave the company a hold rating in a report on Thursday, July 18th. Wells Fargo & Company dropped their target price on shares of Voya Financial from $91.00 to $87.00 and set an overweight rating on the stock in a report on Monday, August 12th. Bank of America upped their price target on shares of Voya Financial from $80.00 to $83.00 and gave the company a buy rating in a research note on Thursday, July 11th. Finally, Evercore ISI upped their price target on shares of Voya Financial from $79.00 to $82.00 and gave the company an outperform rating in a research note on Wednesday, September 11th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $84.64.

Voya Financial Trading Down 0.1 %

Shares of NYSE:VOYA opened at $79.13 on Tuesday. The company’s 50-day moving average price is $72.32 and its two-hundred day moving average price is $72.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.30 and a quick ratio of 0.30. Voya Financial has a one year low of $63.02 and a one year high of $80.16. The stock has a market capitalization of $7.78 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 0.59 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, July 30th. The asset manager reported $2.27 EPS for the quarter, topping the consensus estimate of $2.14 by $0.13. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm posted $2.31 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Voya Financial will post 8.37 EPS for the current fiscal year.

Voya Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Tuesday, August 27th. This is a positive change from Voya Financial’s previous quarterly dividend of $0.40. Voya Financial’s dividend payout ratio is presently 23.72%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Burns Matteson Capital Management LLC acquired a new stake in shares of Voya Financial during the 3rd quarter worth approximately $363,000. UMB Bank n.a. boosted its position in shares of Voya Financial by 118.9% during the 3rd quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after acquiring an additional 239 shares in the last quarter. Wright Investors Service Inc. boosted its position in shares of Voya Financial by 7.7% during the 3rd quarter. Wright Investors Service Inc. now owns 9,586 shares of the asset manager’s stock worth $759,000 after acquiring an additional 687 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Voya Financial by 379.8% during the 3rd quarter. SG Americas Securities LLC now owns 13,242 shares of the asset manager’s stock worth $1,049,000 after acquiring an additional 10,482 shares in the last quarter. Finally, Cascade Investment Advisors Inc. acquired a new stake in shares of Voya Financial during the 3rd quarter worth approximately $1,234,000. Institutional investors and hedge funds own 96.10% of the company’s stock.

Voya Financial Company Profile

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.