Bank of America Reaffirms Neutral Rating for Voya Financial (NYSE:VOYA)

Bank of America restated their neutral rating on shares of Voya Financial (NYSE:VOYA) in a research report sent to investors on Wednesday, Marketbeat reports. Bank of America currently has a $83.00 price objective on the asset manager’s stock, down from their previous price objective of $91.00.

Other research analysts have also issued reports about the stock. Royal Bank of Canada increased their target price on shares of Voya Financial from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Evercore ISI reduced their target price on Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a research note on Tuesday. UBS Group raised Voya Financial to a “strong-buy” rating in a research report on Monday, November 11th. Piper Sandler increased their price target on Voya Financial from $88.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods decreased their price objective on Voya Financial from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Tuesday. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Voya Financial presently has an average rating of “Moderate Buy” and a consensus target price of $85.67.

Voya Financial Stock Performance

Shares of Voya Financial stock opened at $69.83 on Wednesday. The business has a 50-day moving average price of $80.41 and a two-hundred day moving average price of $75.04. Voya Financial has a 1-year low of $63.11 and a 1-year high of $84.30. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54. The company has a market cap of $6.72 billion, a P/E ratio of 11.12, a PEG ratio of 0.51 and a beta of 1.02.

Voya Financial (NYSE:VOYA) last released its earnings results on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, topping the consensus estimate of $2.05 by $0.07. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the firm posted $2.07 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. As a group, analysts anticipate that Voya Financial will post 8.24 EPS for the current year.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, November 26th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Tuesday, November 26th. Voya Financial’s dividend payout ratio is presently 28.66%.

Insider Buying and Selling

In other news, insider Tony D. Oh sold 715 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total value of $58,594.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Voya Financial

Several hedge funds have recently made changes to their positions in VOYA. CWM LLC grew its position in shares of Voya Financial by 97.7% during the 2nd quarter. CWM LLC now owns 2,456 shares of the asset manager’s stock valued at $175,000 after purchasing an additional 1,214 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Voya Financial in the 2nd quarter valued at about $196,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Voya Financial by 15.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,496 shares of the asset manager’s stock valued at $818,000 after acquiring an additional 1,533 shares in the last quarter. Portman Square Capital LLP grew its holdings in shares of Voya Financial by 103.5% during the second quarter. Portman Square Capital LLP now owns 3,503 shares of the asset manager’s stock worth $249,000 after purchasing an additional 103,903 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of Voya Financial by 68.6% in the second quarter. Fifth Third Wealth Advisors LLC now owns 6,518 shares of the asset manager’s stock worth $464,000 after purchasing an additional 2,653 shares during the last quarter. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Voya Financial Company Profile

Voya Financial, Inc engages in the provision of workplace benefits and savings products in the United States and internationally. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees.