Voya Financial (NYSE:VOYA) Price Target Raised to $66.00 at Morgan Stanley
Voya Financial (NYSE:VOYA) had its price objective raised by Morgan Stanley from $62.00 to $66.00 in a research note released on Wednesday, Stock Target Advisor reports. Morgan Stanley currently has an overweight rating on the asset manager’s stock.
Several other brokerages have also issued reports on VOYA. Credit Suisse Group boosted their target price on Conagra Brands from $24.00 to $27.00 and gave the company a neutral rating in a research note on Tuesday, March 26th. TheStreet upgraded Voya Financial from a c+ rating to a b- rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada boosted their target price on Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the company a sector perform rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $59.60.
Voya Financial stock traded up $0.63 during mid-day trading on Wednesday, reaching $56.71. 1,061,400 shares of the company’s stock were exchanged, compared to its average volume of 1,390,156. The business has a fifty day simple moving average of $54.19. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.42 and a beta of 1.45. Voya Financial has a one year low of $36.66 and a one year high of $57.20. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, May 31st were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.07%. The ex-dividend date of this dividend was Thursday, May 30th. Voya Financial’s payout ratio is 0.99%.
In other Voya Financial news, Director Byron H. Pollitt, Jr. bought 1,000 shares of Voya Financial stock in a transaction that occurred on Friday, May 31st. The stock was acquired at an average cost of $51.26 per share, for a total transaction of $51,260.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patricia J. Walsh sold 1,870 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $53.69, for a total value of $100,400.30. Following the transaction, the insider now owns 27,488 shares of the company’s stock, valued at $1,475,830.72. The disclosure for this sale can be found here. 1.69% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC grew its position in Voya Financial by 2.8% during the first quarter. Acadian Asset Management LLC now owns 2,424,257 shares of the asset manager’s stock worth $121,116,000 after buying an additional 66,864 shares in the last quarter. Scout Investments Inc. lifted its stake in Voya Financial by 94.9% during the first quarter. Scout Investments Inc. now owns 2,336,388 shares of the asset manager’s stock worth $116,726,000 after purchasing an additional 1,137,895 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Voya Financial by 24.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,090,289 shares of the asset manager’s stock worth $83,902,000 after purchasing an additional 409,431 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Voya Financial by 6.6% during the first quarter. Clearbridge Investments LLC now owns 1,994,280 shares of the asset manager’s stock worth $99,634,000 after purchasing an additional 124,249 shares during the last quarter. Finally, Norges Bank bought a new stake in Voya Financial during the fourth quarter worth about $67,212,000.
About Voya Financial
Voya Financial, Inc operates as a retirement, investment, and employee benefits company in the United States. It operates through four segments: Retirement, Investment Management, Employee Benefits, and Individual Life. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and financial services, as well as financial planning and advisory services.
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