Voya Financial (NYSE:VOYA) Sets New 12-Month High – Here’s Why

Voya Financial, Inc. (NYSE:VOYA)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $85.68 and last traded at $85.4450, with a volume of 258114 shares trading hands. The stock had previously closed at $83.94.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. UBS Group increased their target price on Voya Financial from $87.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Royal Bank Of Canada increased their target price on Voya Financial from $87.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Morgan Stanley increased their target price on Voya Financial from $84.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Barclays increased their target price on Voya Financial from $89.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. dropped their target price on Voya Financial from $89.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.20.

Voya Financial Trading Up 3.6%

The company has a market cap of $7.89 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.75 and a beta of 0.92. The firm has a 50 day moving average price of $76.76 and a two-hundred day moving average price of $74.16. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.48.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.24. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 earnings per share. As a group, equities analysts forecast that Voya Financial, Inc. will post 9.56 earnings per share for the current year.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Tuesday, May 26th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $1.88 annualized dividend and a yield of 2.2%. Voya Financial’s dividend payout ratio (DPR) is currently 28.40%.

Institutional Investors Weigh In On Voya Financial

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP grew its stake in Voya Financial by 75.5% during the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock worth $26,000 after purchasing an additional 151 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in Voya Financial during the fourth quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new stake in Voya Financial during the fourth quarter worth approximately $33,000. Systematic Financial Management LP acquired a new stake in Voya Financial during the fourth quarter worth approximately $37,000. Finally, Rothschild Investment LLC grew its stake in Voya Financial by 5,180.0% during the third quarter. Rothschild Investment LLC now owns 528 shares of the asset manager’s stock worth $39,000 after purchasing an additional 518 shares during the period. Institutional investors and hedge funds own 96.10% of the company’s stock.

Voya Financial Company Profile

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.