Voya Financial, Inc. (NYSE:VOYA) Stock Has Average Price Target of $103.85 According to Analysts

Voya Financial, Inc. (NYSE:VOYA) has received an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $103.85.

A number of research analysts have weighed in on VOYA shares. Evercore reaffirmed an “outperform” rating and set a $111.00 target price on shares of Voya Financial in a report on Friday, August 7th. Atlantic Securities set a $79.00 price objective on shares of Voya Financial in a research note on Wednesday, July 15th. TD Cowen upped their target price on shares of Voya Financial from $112.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Royal Bank Of Canada increased their target price on shares of Voya Financial from $107.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, Barclays raised their price target on shares of Voya Financial from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th.

Hedge Funds Weigh In On Voya Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VOYA. Sequoia Financial Advisors LLC raised its holdings in shares of Voya Financial by 9.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,078 shares of the asset manager’s stock valued at $641,000 after acquiring an additional 632 shares in the last quarter. Tidal Investments LLC increased its position in shares of Voya Financial by 172.7% in the second quarter. Tidal Investments LLC now owns 21,487 shares of the asset manager’s stock worth $1,945,000 after purchasing an additional 13,608 shares during the last quarter. Engineers Gate Manager LP increased its position in shares of Voya Financial by 940.5% in the second quarter. Engineers Gate Manager LP now owns 180,505 shares of the asset manager’s stock worth $16,341,000 after purchasing an additional 163,157 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Voya Financial in the second quarter valued at approximately $84,000. Finally, NewEdge Advisors LLC raised its stake in Voya Financial by 3.3% in the second quarter. NewEdge Advisors LLC now owns 9,478 shares of the asset manager’s stock valued at $858,000 after purchasing an additional 305 shares in the last quarter. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Voya Financial Trading Down 1.5%

NYSE:VOYA opened at $95.84 on Tuesday. Voya Financial has a 1 year low of $64.50 and a 1 year high of $105.64. The stock’s fifty day moving average price is $100.28 and its two-hundred day moving average price is $88.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market cap of $8.68 billion, a P/E ratio of 16.16, a P/E/G ratio of 0.94 and a beta of 0.90.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Tuesday, August 4th. The asset manager reported $1.51 earnings per share 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 company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter last year, the firm posted $1.66 earnings per share. Voya Financial’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, analysts expect that Voya Financial will post 9.21 EPS for the current year.

Voya Financial Dividend Announcement

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

About Voya Financial

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 benefits needs. Its operations are organized primarily around retirement, employee benefits and investment management.

Through its retirement business, Voya provides workplace retirement plans, including defined contribution and defined benefit solutions, as well as individual retirement products and financial-wellness resources.