Voya Financial (NYSE:VOYA) had its price objective lifted by Morgan Stanley from $62.00 to $66.00 in a research report sent to investors on Wednesday, Stock Target Advisor reports. They currently have an overweight rating on the asset manager’s stock.
VOYA has been the topic of several other reports. Royal Bank of Canada lifted their target price on shares of Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the company a sector perform rating in a research report on Thursday, May 9th. Credit Suisse Group lifted their target price on shares of Conagra Brands from $24.00 to $27.00 and gave the company a neutral rating in a research report on Tuesday, March 26th. Finally, TheStreet upgraded shares of Voya Financial from a c+ rating to a b- rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $59.60.
Shares of Voya Financial stock opened at $56.93 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. The company’s 50-day simple moving average is $54.34. Voya Financial has a twelve month low of $36.66 and a twelve month high of $57.24. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 0.42 and a beta of 1.44.
Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, May 7th. The asset manager reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.05). Voya Financial had a net margin of 5.64% and a return on equity of 8.45%. The business had revenue of $194.00 million for the quarter, compared to analyst estimates of $272.72 million. During the same quarter last year, the firm posted $1.03 earnings per share. Sell-side analysts predict that Voya Financial will post 5.5 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, May 31st were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.07%. The ex-dividend date was Thursday, May 30th. Voya Financial’s dividend payout ratio is currently 0.99%.
In other news, Director Byron H. Pollitt, Jr. purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average cost of $51.26 per share, with a total value of $51,260.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Patricia J. Walsh sold 1,870 shares of Voya Financial stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $53.69, for a total transaction of $100,400.30. Following the transaction, the insider now directly owns 27,488 shares of the company’s stock, valued at $1,475,830.72. The disclosure for this sale can be found here. Company insiders own 1.69% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. First Citizens Bank & Trust Co. bought a new stake in shares of Voya Financial during the second quarter worth approximately $907,000. AMF Pensionsforsakring AB raised its stake in shares of Voya Financial by 1.8% during the second quarter. AMF Pensionsforsakring AB now owns 377,525 shares of the asset manager’s stock worth $20,877,000 after buying an additional 6,696 shares during the last quarter. Hexavest Inc. bought a new stake in shares of Voya Financial during the second quarter worth approximately $30,000. Retirement Systems of Alabama raised its stake in shares of Voya Financial by 16.8% during the second quarter. Retirement Systems of Alabama now owns 69,700 shares of the asset manager’s stock worth $3,854,000 after buying an additional 10,000 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Voya Financial by 0.8% during the first quarter. Nordea Investment Management AB now owns 54,264 shares of the asset manager’s stock worth $2,712,000 after buying an additional 440 shares during the last quarter.
Voya Financial Company Profile
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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