Brokerages Set Voya Financial, Inc. (NYSE:VOYA) Target Price at $86.50

Shares of Voya Financial, Inc. (NYSE:VOYA) have been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $85.67.

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 target price for the company. in a research report on Thursday, October 3rd. Evercore ISI lowered their target price on Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a research report on Tuesday. Piper Sandler increased their price target on Voya Financial from $88.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods lowered their price target on Voya Financial from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, UBS Group raised Voya Financial to a “strong-buy” rating in a report on Monday, November 11th.

Insiders Place Their Bets

In related news, insider Tony D. Oh sold 715 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total value of $58,594.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.37% of the company’s stock.

Institutional Trading of Voya Financial

Several hedge funds and other institutional investors have recently bought and sold shares of VOYA. Retirement Systems of Alabama increased its stake in Voya Financial by 8.2% during the 3rd quarter. Retirement Systems of Alabama now owns 272,339 shares of the asset manager’s stock worth $21,575,000 after acquiring an additional 20,750 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Voya Financial during the 3rd quarter valued at $209,000. Coldstream Capital Management Inc. grew its holdings in shares of Voya Financial by 8.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,591 shares of the asset manager’s stock worth $285,000 after purchasing an additional 270 shares in the last quarter. Barclays PLC increased its position in shares of Voya Financial by 48.2% in the third quarter. Barclays PLC now owns 48,890 shares of the asset manager’s stock worth $3,872,000 after purchasing an additional 15,902 shares during the period. Finally, LRI Investments LLC raised its stake in Voya Financial by 780.5% in the third quarter. LRI Investments LLC now owns 1,039 shares of the asset manager’s stock valued at $85,000 after purchasing an additional 921 shares in the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.

Voya Financial Stock Performance

Shares of Voya Financial stock opened at $69.83 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 0.51 and a beta of 1.02. The stock’s 50-day moving average is $80.41 and its 200-day moving average is $75.04. Voya Financial has a one year low of $63.11 and a one year high of $84.30.

Voya Financial (NYSE:VOYA) last released its earnings results on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, beating 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 firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the business posted $2.07 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities analysts predict that Voya Financial will post 8.24 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

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

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.