Voya Financial (NYSE:VOYA) Price Target Raised to $86.00

Voya Financial (NYSE:VOYA) had its target price hoisted by Keefe, Bruyette & Woods from $83.00 to $86.00 in a report issued on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the asset manager’s stock.

A number of other research firms also recently issued reports on VOYA. UBS Group lifted their price objective on shares of Voya Financial from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Voya Financial in a report on Wednesday. Morgan Stanley lifted their price objective on shares of Voya Financial from $90.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. Evercore ISI lifted their price objective on shares of Voya Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, August 13th. Finally, Wells Fargo & Company lifted their price objective on shares of Voya Financial from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Voya Financial Stock Down 2.5%

Voya Financial stock opened at $72.66 on Thursday. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 0.54 and a beta of 0.98. Voya Financial has a 52-week low of $52.43 and a 52-week high of $84.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a 50 day moving average price of $74.76 and a two-hundred day moving average price of $69.09.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Tuesday, August 5th. The asset manager reported $2.40 EPS for the quarter, topping the consensus estimate of $2.09 by $0.31. Voya Financial had a net margin of 6.73% and a return on equity of 13.72%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm posted $2.18 EPS. The company’s quarterly revenue was down 2.6% on a year-over-year basis. Equities analysts predict that Voya Financial will post 8.39 EPS for the current year.

Voya Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Tuesday, August 26th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, August 26th. Voya Financial’s dividend payout ratio (DPR) is currently 36.00%.

Institutional Investors Weigh In On Voya Financial

Several hedge funds and other institutional investors have recently modified their holdings of VOYA. UMB Bank n.a. increased its position in shares of Voya Financial by 196.7% during the first quarter. UMB Bank n.a. now owns 1,445 shares of the asset manager’s stock valued at $98,000 after buying an additional 958 shares during the period. Park Avenue Securities LLC boosted its stake in Voya Financial by 63.0% in the first quarter. Park Avenue Securities LLC now owns 15,665 shares of the asset manager’s stock worth $1,061,000 after buying an additional 6,055 shares in the last quarter. GAMMA Investing LLC boosted its stake in Voya Financial by 28.1% in the first quarter. GAMMA Investing LLC now owns 1,544 shares of the asset manager’s stock worth $105,000 after buying an additional 339 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Voya Financial in the first quarter worth approximately $944,000. Finally, CX Institutional purchased a new stake in shares of Voya Financial during the first quarter valued at approximately $4,278,000. 96.10% of the stock is currently owned by institutional investors.

About Voya Financial

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.