Analysts Set Voya Financial, Inc. (NYSE:VOYA) PT at $87.80

Voya Financial, Inc. (NYSE:VOYA) has received a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $88.40.

VOYA has been the topic of a number of research analyst reports. TD Cowen began coverage on shares of Voya Financial in a research report on Monday, April 20th. They set a “buy” rating and a $100.00 price objective on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Voya Financial from $82.00 to $81.00 and set an “outperform” rating for the company in a research report on Friday, April 10th. Royal Bank Of Canada boosted their price target on shares of Voya Financial from $87.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Morgan Stanley raised their price objective on shares of Voya Financial from $84.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Barclays boosted their target price on shares of Voya Financial from $87.00 to $89.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th.

Voya Financial Price Performance

Voya Financial stock opened at $82.37 on Wednesday. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.74 and a beta of 0.94. Voya Financial has a 52-week low of $64.50 and a 52-week high of $84.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.27 and a current ratio of 0.27. The stock’s 50 day moving average price is $74.13 and its two-hundred day moving average price is $73.51.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, May 5th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.24. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.98 billion. Voya Financial had a net margin of 8.24% and a return on equity of 13.84%. Voya Financial’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.00 EPS. On average, equities analysts predict that Voya Financial will post 9.65 earnings per share for the current year.

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Tuesday, May 26th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, May 26th. Voya Financial’s payout ratio is currently 28.40%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VOYA. Root Financial Partners LLC bought a new position in Voya Financial during the 3rd quarter valued at $26,000. Allworth Financial LP raised its holdings in shares of Voya Financial by 75.5% in the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 151 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Voya Financial during the fourth quarter valued at about $28,000. V Square Quantitative Management LLC purchased a new position in Voya Financial during the fourth quarter worth about $33,000. Finally, Systematic Financial Management LP bought a new stake in Voya Financial in the 4th quarter worth about $37,000. Institutional investors own 96.10% of the company’s stock.

About Voya Financial

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.