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

Voya Financial, Inc. (NYSE:VOYA) has received an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $104.00.

Several brokerages have recently issued reports on VOYA. Weiss Ratings raised Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 29th. Royal Bank Of Canada raised their price target on Voya Financial from $107.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Wells Fargo & Company lifted their price objective on Voya Financial from $102.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Thursday. UBS Group increased their target price on Voya Financial from $125.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Finally, Barclays increased their target price on Voya Financial from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th.

Voya Financial Stock Performance

Voya Financial stock opened at $102.18 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $9.13 billion, a P/E ratio of 16.43, a PEG ratio of 1.02 and a beta of 0.85. The stock’s 50 day moving average is $98.70 and its 200 day moving average is $87.51. Voya Financial has a twelve month low of $64.50 and a twelve month high of $106.79.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Monday, November 2nd. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. Voya Financial had a return on equity of 12.67% and a net margin of 7.75%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the company earned $2.45 earnings per share. The company’s revenue was down 4.8% on a year-over-year basis. On average, equities research analysts predict that Voya Financial will post 9.14 earnings per share for the current fiscal year.

Voya Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Tuesday, November 24th will be issued a $0.57 dividend. This is a boost from Voya Financial’s previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, November 24th. This represents a $2.28 annualized dividend and a dividend yield of 2.2%. Voya Financial’s dividend payout ratio (DPR) is 36.66%.

Insider Buying and Selling

In other Voya Financial news, insider Trevor Ogle sold 2,093 shares of the business’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $95.81, for a total value of $200,530.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Danske Bank A S acquired a new stake in shares of Voya Financial during the second quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Voya Financial during the 2nd quarter worth approximately $48,000. Versant Capital Management Inc lifted its stake in Voya Financial by 29.6% during the 3rd quarter. Versant Capital Management Inc now owns 696 shares of the asset manager’s stock valued at $66,000 after acquiring an additional 159 shares during the period. Root Financial Partners LLC acquired a new stake in Voya Financial during the 3rd quarter valued at approximately $70,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Voya Financial in the 2nd quarter valued at $84,000. Institutional investors own 96.10% of the company’s stock.

About Voya Financial

Voya Financial, Inc. is a U.S.-based financial services company focused on workplace benefits, retirement plans and investment management. It serves employers, plan sponsors, institutions and individuals, primarily in the United States. The company provides workplace retirement savings plans and related services, along with employee benefits such as group life, disability and supplemental health coverage. Through its investment management business, Voya offers investment strategies and services to institutional and individual clients.