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

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

Other analysts also recently issued reports about the stock. Raymond James downgraded shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, September 13th. Jefferies Financial Group upped their target price on Voya Financial from $78.00 to $80.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Citigroup lifted their price target on Voya Financial from $86.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Bank of America upped their price objective on Voya Financial from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their price target on shares of Voya Financial from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Voya Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Voya Financial Stock Up 0.1 %

Shares of Voya Financial stock opened at $83.32 on Monday. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 13.27, a PEG 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. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54. The business’s 50 day simple moving average is $78.66 and its 200-day simple moving average is $73.94.

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

Voya Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, November 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.16%. Voya Financial’s dividend payout ratio is 28.66%.

Insider Buying and Selling

In other Voya Financial news, insider Tony D. Oh sold 715 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 at this link. Company insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Voya Financial

Several large investors have recently made changes to their positions in VOYA. Algert Global LLC grew its position in Voya Financial by 5.5% in the third quarter. Algert Global LLC now owns 42,473 shares of the asset manager’s stock worth $3,365,000 after acquiring an additional 2,230 shares in the last quarter. Kingsview Wealth Management LLC increased its position in Voya Financial by 15.2% during the third quarter. Kingsview Wealth Management LLC now owns 28,609 shares of the asset manager’s stock worth $2,266,000 after buying an additional 3,782 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Voya Financial by 1.5% during 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 in 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 worth $917,000 after buying an additional 3,970 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Voya Financial during the 3rd quarter worth about $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.