Voya Financial, Inc. (NYSE:VOYA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Voya Financial, Inc. (NYSE:VOYA) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $83.55.

VOYA has been the topic of several research reports. Royal Bank of Canada reduced their target price on Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Piper Sandler reduced their price objective on Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods lowered their target price on Voya Financial from $90.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Barclays cut shares of Voya Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company increased their price objective on shares of Voya Financial from $76.00 to $79.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Impax Asset Management Group plc raised its holdings in shares of Voya Financial by 277.8% in the fourth quarter. Impax Asset Management Group plc now owns 2,898,785 shares of the asset manager’s stock worth $199,062,000 after buying an additional 2,131,578 shares during the period. Norges Bank purchased a new stake in Voya Financial in the fourth quarter worth $96,508,000. Wealthfront Advisers LLC purchased a new stake in shares of Voya Financial during the fourth quarter valued at $67,214,000. Bank of New York Mellon Corp boosted its stake in shares of Voya Financial by 15.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager’s stock valued at $445,487,000 after purchasing an additional 876,399 shares during the period. Finally, Hennessy Advisors Inc. bought a new position in shares of Voya Financial in the fourth quarter worth about $47,155,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Trading Down 1.0 %

Shares of VOYA opened at $69.41 on Friday. The firm has a market cap of $6.63 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 0.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.30 and a quick ratio of 0.31. Voya Financial has a 1 year low of $64.10 and a 1 year high of $84.30. The company has a 50 day simple moving average of $70.50 and a two-hundred day simple moving average of $74.45.

Voya Financial (NYSE:VOYA) last posted its earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. On average, equities analysts expect that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, February 25th were issued a dividend of $0.45 per share. The ex-dividend date was Tuesday, February 25th. This represents a $1.80 annualized dividend and a yield of 2.59%. Voya Financial’s payout ratio is 29.41%.

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.