Voya Financial (NYSE:VOYA) Upgraded to Strong-Buy at UBS Group

UBS Group upgraded shares of Voya Financial (NYSE:VOYA) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Several other equities analysts have also recently commented on VOYA. JPMorgan Chase & Co. cut Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price target for the company. in a report on Thursday, October 3rd. Evercore ISI upped their target price on Voya Financial from $79.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Royal Bank of Canada lifted their price target on shares of Voya Financial from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday. Bank of America increased their price objective on shares of Voya Financial from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley lowered their target price on shares of Voya Financial from $76.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Voya Financial Price Performance

NYSE VOYA opened at $83.32 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a 50-day simple moving average of $78.66 and a 200 day simple moving average of $73.94. The stock has a market capitalization of $8.02 billion, a PE ratio of 13.27, a P/E/G ratio of 0.59 and a beta of 1.03. Voya Financial has a twelve month low of $63.11 and a twelve month high of $84.30.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.07. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.86 billion. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the business posted $2.07 EPS. Research analysts anticipate that Voya Financial will post 8.21 EPS for the current year.

Voya Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, November 26th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $1.80 annualized dividend and a dividend yield of 2.16%. Voya Financial’s dividend payout ratio (DPR) is currently 28.66%.

Insider Buying and Selling

In other news, insider Tony D. Oh sold 715 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total value of $58,594.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Voya Financial

A number of institutional investors and hedge funds have recently made changes to their positions in VOYA. Algert Global LLC raised its holdings in shares of Voya Financial by 5.5% in the 3rd quarter. Algert Global LLC now owns 42,473 shares of the asset manager’s stock valued at $3,365,000 after purchasing an additional 2,230 shares during the period. Kingsview Wealth Management LLC raised its stake in Voya Financial by 15.2% in the third quarter. Kingsview Wealth Management LLC now owns 28,609 shares of the asset manager’s stock valued at $2,266,000 after buying an additional 3,782 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Voya Financial by 1.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager’s stock valued at $212,152,000 after buying an additional 38,438 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Voya Financial by 52.2% in the third quarter. Advisors Asset Management Inc. now owns 11,580 shares of the asset manager’s stock valued at $917,000 after buying an additional 3,970 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Voya Financial in the 3rd quarter valued at $597,000. Institutional investors own 96.10% of the company’s stock.

Voya Financial Company Profile

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.