Voya Financial (NYSE:VOYA) Price Target Raised to $90.00 at Wells Fargo & Company

Voya Financial (NYSE:VOYA) had its target price upped by Wells Fargo & Company from $87.00 to $90.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the asset manager’s stock.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley lowered their price target on Voya Financial from $76.00 to $75.00 and set an equal weight rating for the company in a report on Monday, August 19th. Jefferies Financial Group upped their target price on Voya Financial from $78.00 to $80.00 and gave the company a hold rating in a research report on Thursday, July 18th. Royal Bank of Canada reaffirmed an outperform rating and set a $83.00 price target on shares of Voya Financial in a research report on Wednesday, August 7th. Bank of America increased their price objective on Voya Financial from $80.00 to $83.00 and gave the company a buy rating in a report on Thursday, July 11th. Finally, Citigroup lifted their target price on shares of Voya Financial from $86.00 to $91.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $85.27.

Voya Financial Trading Up 0.9 %

NYSE VOYA opened at $79.84 on Thursday. Voya Financial has a 52 week low of $63.02 and a 52 week high of $80.36. The firm has a 50 day moving average of $72.56 and a two-hundred day moving average of $72.19. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $7.85 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 0.59 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, July 30th. The asset manager reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.13. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.87 billion. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.31 earnings per share. As a group, research analysts expect that Voya Financial will post 8.31 EPS for the current fiscal year.

Voya Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.45 per share. This is a boost from Voya Financial’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $1.80 annualized dividend and a yield of 2.25%. Voya Financial’s payout ratio is presently 23.72%.

Institutional Trading of Voya Financial

A number of institutional investors have recently modified their holdings of the business. UMB Bank n.a. increased its holdings in Voya Financial by 118.9% in the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock valued at $35,000 after buying an additional 239 shares in the last quarter. FinTrust Capital Advisors LLC purchased a new stake in Voya Financial during the first quarter worth $43,000. Quarry LP acquired a new stake in Voya Financial in the second quarter valued at $61,000. Allspring Global Investments Holdings LLC grew its holdings in Voya Financial by 6,850.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 822 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in shares of Voya Financial in the first quarter valued at $85,000. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

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.