Voya Financial (NYSE:VOYA) had its price objective decreased by Morgan Stanley from $61.00 to $59.00 in a research note issued to investors on Thursday morning. Morgan Stanley currently has an overweight rating on the asset manager’s stock.
Other equities analysts have also recently issued reports about the company. Wells Fargo reiterated a buy rating on shares of Voya Financial in a research report on Friday, December 8th. Deutsche Bank assumed coverage on Voya Financial in a research report on Tuesday, January 2nd. They issued a buy rating and a $59.00 price target for the company. Evercore ISI upgraded Voya Financial to a buy rating and set a $60.00 price target for the company in a research report on Wednesday, December 27th. UBS assumed coverage on Voya Financial in a research report on Friday, March 2nd. They issued a buy rating and a $65.00 price target for the company. Finally, ValuEngine upgraded Voya Financial from a hold rating to a buy rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $57.17.
NYSE:VOYA opened at $49.52 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.18 and a quick ratio of 0.18. Voya Financial has a 1 year low of $33.53 and a 1 year high of $54.87. The firm has a market capitalization of $8,517.64, a price-to-earnings ratio of 16.45, a PEG ratio of 0.74 and a beta of 1.53.
Voya Financial (NYSE:VOYA) last released its earnings results on Tuesday, February 13th. The asset manager reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.17. Voya Financial had a positive return on equity of 3.90% and a negative net margin of 31.38%. The business had revenue of $2.19 billion during the quarter. equities research analysts predict that Voya Financial will post 4.26 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Investors of record on Wednesday, February 28th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.08%. The ex-dividend date of this dividend was Tuesday, February 27th. Voya Financial’s dividend payout ratio is 1.33%.
Voya Financial announced that its board has initiated a stock buyback plan on Tuesday, February 13th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, insider Kevin D. Silva sold 895 shares of Voya Financial stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $50.77, for a total transaction of $45,439.15. Following the completion of the sale, the insider now owns 9,299 shares of the company’s stock, valued at $472,110.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin D. Silva sold 5,480 shares of Voya Financial stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $51.70, for a total value of $283,316.00. Following the sale, the insider now directly owns 14,577 shares of the company’s stock, valued at approximately $753,630.90. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of VOYA. KBC Group NV lifted its stake in Voya Financial by 21.3% during the third quarter. KBC Group NV now owns 68,249 shares of the asset manager’s stock worth $2,722,000 after purchasing an additional 11,975 shares during the last quarter. Westpac Banking Corp lifted its stake in Voya Financial by 32.9% during the fourth quarter. Westpac Banking Corp now owns 99,246 shares of the asset manager’s stock worth $4,910,000 after purchasing an additional 24,544 shares during the last quarter. First American Bank bought a new stake in Voya Financial during the fourth quarter worth about $1,221,000. Castleark Management LLC bought a new stake in Voya Financial during the fourth quarter worth about $5,362,000. Finally, Stifel Financial Corp lifted its stake in Voya Financial by 107.0% during the third quarter. Stifel Financial Corp now owns 76,276 shares of the asset manager’s stock worth $3,044,000 after purchasing an additional 39,423 shares during the last quarter.
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About Voya Financial
Voya Financial, Inc operates as a retirement, investment, and insurance company in the United States. It operates through Retirement, Investment Management, Individual Life, and Employee Benefits segments. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual account rollover plans and other retail financial products, as well as financial planning and advisory services.
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