Voya Financial, Inc. (VOYA) Upgraded to “Buy” at Sandler O’Neill
A number of other brokerages also recently commented on VOYA. BidaskClub downgraded Voya Financial from a buy rating to a hold rating in a report on Wednesday, August 16th. Wells Fargo & Company reissued a buy rating on shares of Voya Financial in a report on Tuesday, August 1st. ValuEngine downgraded Voya Financial from a strong-buy rating to a buy rating in a report on Monday, August 7th. Royal Bank Of Canada reissued a buy rating and issued a $46.00 price target on shares of Voya Financial in a report on Wednesday, September 6th. Finally, Keefe, Bruyette & Woods reissued a buy rating and issued a $51.00 price target on shares of Voya Financial in a report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Voya Financial has a consensus rating of Buy and a consensus target price of $47.70.
Voya Financial (NYSE:VOYA) traded up $0.33 during mid-day trading on Monday, hitting $41.04. The stock had a trading volume of 1,506,800 shares, compared to its average volume of 1,536,327. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.44. Voya Financial has a fifty-two week low of $33.53 and a fifty-two week high of $42.96. The firm has a market capitalization of $7,317.50, a price-to-earnings ratio of 14.04, a P/E/G ratio of 0.73 and a beta of 1.62.
Voya Financial (NYSE:VOYA) last posted its earnings results on Tuesday, October 31st. The asset manager reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.39). Voya Financial had a negative net margin of 3.64% and a positive return on equity of 3.92%. The company had revenue of $226.50 million during the quarter, compared to analyst estimates of $322.92 million. During the same quarter last year, the business posted ($1.24) EPS. research analysts expect that Voya Financial will post 3.05 EPS for the current fiscal year.
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Voya Financial declared that its board has approved a share repurchase program on Tuesday, October 31st that permits the company to buyback $800.00 million in outstanding shares. This buyback authorization permits the asset manager to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Wednesday, November 29th. Voya Financial’s dividend payout ratio is presently -2.23%.
Large investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted its holdings in Voya Financial by 7.9% during the 2nd quarter. Toronto Dominion Bank now owns 2,728 shares of the asset manager’s stock worth $101,000 after buying an additional 199 shares during the last quarter. Reliance Trust Co. of Delaware bought a new position in Voya Financial during the 3rd quarter worth approximately $215,000. Paragon Capital Management Ltd bought a new position in Voya Financial during the 2nd quarter worth approximately $239,000. Campbell & CO Investment Adviser LLC bought a new position in Voya Financial during the 2nd quarter worth approximately $254,000. Finally, TLP Group LLC bought a new position in Voya Financial during the 2nd quarter worth approximately $262,000. 96.62% of the stock is currently owned by institutional investors.
Voya Financial Company Profile
Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.
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