Voya Financial (NYSE:VOYA) Given New $82.00 Price Target at Evercore ISI

Voya Financial (NYSE:VOYA) had its target price raised by Evercore ISI from $79.00 to $82.00 in a report released on Wednesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the asset manager’s stock.

Several other research firms have also recently weighed in on VOYA. JPMorgan Chase & Co. cut their price target on shares of Voya Financial from $88.00 to $87.00 and set an overweight rating on the stock in a report on Wednesday, July 31st. Jefferies Financial Group boosted their target price on shares of Voya Financial from $78.00 to $80.00 and gave the company a hold rating in a research note on Thursday, July 18th. Wells Fargo & Company dropped their target price on shares of Voya Financial from $91.00 to $87.00 and set an overweight rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada reiterated an outperform rating and issued a $83.00 target price on shares of Voya Financial in a research note on Wednesday, August 7th. Finally, Barclays started coverage on shares of Voya Financial in a research note on Wednesday, September 4th. They issued an overweight rating and a $84.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $83.64.

Voya Financial Stock Down 0.3 %

Voya Financial stock opened at $75.10 on Wednesday. Voya Financial has a fifty-two week low of $63.02 and a fifty-two week high of $76.75. The stock has a market cap of $7.38 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 0.55 and a beta of 1.03. The firm’s 50-day simple moving average is $69.90 and its 200 day simple moving average is $70.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.30.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Tuesday, July 30th. The asset manager reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.13. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the company earned $2.31 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts predict that Voya Financial will post 8.42 EPS for the current fiscal year.

Voya Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, August 27th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Tuesday, August 27th. This is a positive change from Voya Financial’s previous quarterly dividend of $0.40. Voya Financial’s dividend payout ratio is 25.57%.

Institutional Trading of Voya Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. TFO Wealth Partners LLC grew its stake in Voya Financial by 1,035,080.0% in the 4th quarter. TFO Wealth Partners LLC now owns 51,759 shares of the asset manager’s stock worth $3,776,000 after buying an additional 51,754 shares in the last quarter. Crestline Management LP purchased a new position in Voya Financial in the 4th quarter worth approximately $1,554,000. Gillson Capital LP purchased a new position in Voya Financial in the 4th quarter worth approximately $11,142,000. FORA Capital LLC grew its stake in Voya Financial by 94.1% in the 1st quarter. FORA Capital LLC now owns 28,175 shares of the asset manager’s stock worth $2,083,000 after buying an additional 13,662 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in Voya Financial by 149.4% in the 1st quarter. Empowered Funds LLC now owns 25,399 shares of the asset manager’s stock worth $1,877,000 after buying an additional 15,216 shares in the last quarter. Institutional investors own 96.10% of the company’s stock.

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.