Voya Financial Inc. (VOYA) Coverage Initiated at Credit Suisse Group AG
Credit Suisse Group AG began coverage on shares of Voya Financial Inc. (NYSE:VOYA) in a research note published on Friday. The brokerage issued an outperform rating and a $39.00 price target on the stock.
Other equities research analysts have also recently issued reports about the company. TheStreet raised Voya Financial from a hold rating to a buy rating in a research note on Wednesday, October 5th. Deutsche Bank AG cut their target price on Voya Financial from $41.00 to $37.00 and set a buy rating on the stock in a research note on Thursday, July 14th. Evercore ISI initiated coverage on Voya Financial in a research note on Wednesday, July 6th. They issued a hold rating and a $31.00 target price on the stock. JPMorgan Chase & Co. reissued a hold rating and issued a $38.00 target price on shares of Voya Financial in a research note on Wednesday, July 6th. Finally, Zacks Investment Research raised Voya Financial from a sell rating to a hold rating in a research note on Saturday, August 6th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $37.91.
Shares of Voya Financial (NYSE:VOYA) opened at 30.91 on Friday. The company has a 50-day moving average price of $29.16 and a 200 day moving average price of $29.07. Voya Financial has a one year low of $22.75 and a one year high of $42.45. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 22.95 and a beta of 1.55.
Voya Financial (NYSE:VOYA) last released its earnings results on Wednesday, August 3rd. The company reported $0.79 EPS for the quarter, hitting analysts’ consensus estimates of $0.79. Voya Financial had a return on equity of 3.44% and a net margin of 2.88%. During the same period in the previous year, the company earned $0.78 EPS. Equities research analysts expect that Voya Financial will post $3.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Monday, August 29th. Voya Financial’s dividend payout ratio is 2.86%.
A number of hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in shares of Voya Financial by 8.0% in the second quarter. Pacer Advisors Inc. now owns 4,127 shares of the company’s stock worth $102,000 after buying an additional 306 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in shares of Voya Financial during the second quarter worth approximately $132,000. Zweig DiMenna Associates LLC bought a new stake in shares of Voya Financial during the second quarter worth approximately $208,000. Loews Corp boosted its stake in shares of Voya Financial by 32.0% in the second quarter. Loews Corp now owns 9,175 shares of the company’s stock worth $227,000 after buying an additional 2,225 shares during the last quarter. Finally, Advance Capital I Inc. bought a new stake in shares of Voya Financial during the second quarter worth approximately $228,000. Institutional investors and hedge funds own 96.83% of the company’s stock.
Voya Financial Company Profile
Voya Financial, Inc is a holding company. The Company is a retirement, investment and insurance company, which provides retirement services, annuities, investment management services, mutual funds, life insurance, group insurance and supplemental health products. It provides its principal products and services in two ongoing businesses: Retirement and Investment Solutions, and Insurance Solutions.
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