Voya Financial, Inc. (NYSE:VOYA) Stock Has Consensus Target Price of $103.69

Voya Financial, Inc. (NYSE:VOYA) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $103.69.

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group increased their target price on shares of Voya Financial from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Morgan Stanley lifted their price target on Voya Financial from $92.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Royal Bank Of Canada upped their price target on Voya Financial from $107.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Wells Fargo & Company lowered their price target on Voya Financial from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Monday, October 12th. Finally, Barclays increased their price target on Voya Financial from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th.

Hedge Funds Weigh In On Voya Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. USA Financial Formulas purchased a new position in shares of Voya Financial in the 3rd quarter valued at approximately $136,000. TD Waterhouse Canada Inc. increased its holdings in shares of Voya Financial by 4.6% in the third quarter. TD Waterhouse Canada Inc. now owns 2,731 shares of the asset manager’s stock valued at $261,000 after purchasing an additional 120 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Voya Financial by 141.8% during the third quarter. Assenagon Asset Management S.A. now owns 303,681 shares of the asset manager’s stock worth $28,692,000 after purchasing an additional 178,070 shares during the last quarter. Diversified Management Inc. purchased a new stake in shares of Voya Financial during the third quarter worth approximately $710,000. Finally, GAMMA Investing LLC raised its stake in shares of Voya Financial by 7.0% during the third quarter. GAMMA Investing LLC now owns 4,217 shares of the asset manager’s stock worth $398,000 after purchasing an additional 277 shares during the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Stock Down 0.7%

Shares of VOYA opened at $93.39 on Friday. Voya Financial has a 52 week low of $64.50 and a 52 week high of $105.64. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 0.94 and a beta of 0.90. The stock’s 50-day moving average price is $99.07 and its 200-day moving average price is $91.06.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.47). Voya Financial had a net margin of 7.45% and a return on equity of 12.31%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the business posted $1.66 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts predict that Voya Financial will post 9.21 EPS for the current year.

Voya Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Wednesday, August 26th were paid a $0.47 dividend. The ex-dividend date of this dividend was Wednesday, August 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.0%. Voya Financial’s dividend payout ratio (DPR) is currently 31.70%.

Voya Financial Company Profile

Voya Financial, Inc is a U.S.-based financial services company that helps individuals, employers and institutions plan for retirement, manage investments and address employee benefit needs. Its businesses are organized primarily around Retirement, Employee Benefits and Investment Management.

Voya’s retirement business provides workplace retirement plans, including defined contribution and defined benefit solutions, as well as individual retirement products and advisory services. Its employee benefits operations offer products such as health, life, disability and supplemental insurance, along with benefits administration and related services for employers and their workers.

Through its investment management business, Voya provides institutional and individual investors with asset-management and advisory capabilities across a range of investment strategies.