TheStreet Upgrades Voya Financial Inc. (VOYA) to Buy
Voya Financial Inc. (NYSE:VOYA) was upgraded by investment analysts at TheStreet from a “hold” rating to a “buy” rating in a report released on Wednesday.
VOYA has been the topic of a number of other reports. Wells Fargo & Co. assumed coverage on Voya Financial in a research report on Thursday, September 22nd. They issued a “market perform” rating on the stock. Evercore ISI assumed coverage on Voya Financial in a research report on Wednesday, July 6th. They issued a “hold” rating and a $31.00 target price on the stock. Citigroup Inc. cut their target price on Voya Financial from $34.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, July 7th. Zacks Investment Research lowered Voya Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, July 20th. Finally, Deutsche Bank AG dropped their price target on Voya Financial from $41.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, July 7th. Seven 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 company’s stock. The company presently has an average rating of “Buy” and an average target price of $38.73.
Voya Financial (NYSE:VOYA) traded up 1.59% during trading on Wednesday, reaching $30.74. 2,374,329 shares of the company were exchanged. Voya Financial has a 52-week low of $22.75 and a 52-week high of $42.45. The stock has a market capitalization of $6.16 billion, a PE ratio of 22.82 and a beta of 1.55. The firm’s 50 day moving average is $28.94 and its 200 day moving average is $29.06.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/07/thestreet-upgrades-voya-financial-inc-voya-to-buy.html
Voya Financial (NYSE:VOYA) last announced its earnings results on Wednesday, August 3rd. The company reported $0.79 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.79. Voya Financial had a return on equity of 3.44% and a net margin of 2.88%. During the same period last year, the business posted $0.78 EPS. Analysts expect that Voya Financial will post $3.02 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Wednesday, August 31st were paid a $0.01 dividend. The ex-dividend date was Monday, August 29th. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. Voya Financial’s payout ratio is 2.86%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC boosted its position in Voya Financial by 31.2% in the second quarter. Pzena Investment Management LLC now owns 15,175,429 shares of the company’s stock valued at $375,744,000 after buying an additional 3,612,038 shares during the last quarter. Franklin Resources Inc. boosted its position in Voya Financial by 27.4% in the second quarter. Franklin Resources Inc. now owns 12,182,733 shares of the company’s stock valued at $301,651,000 after buying an additional 2,618,169 shares during the last quarter. AJO LP boosted its position in Voya Financial by 13.6% in the second quarter. AJO LP now owns 7,681,653 shares of the company’s stock valued at $190,198,000 after buying an additional 921,751 shares during the last quarter. Acadian Asset Management LLC boosted its position in Voya Financial by 7.0% in the second quarter. Acadian Asset Management LLC now owns 5,598,916 shares of the company’s stock valued at $138,626,000 after buying an additional 367,365 shares during the last quarter. Finally, Investec Asset Management LTD boosted its position in Voya Financial by 4.4% in the first quarter. Investec Asset Management LTD now owns 5,347,422 shares of the company’s stock valued at $159,193,000 after buying an additional 224,661 shares during the last quarter. 96.83% of the stock is owned by institutional investors.
Voya Financial Company Profile
Voya Financial, Inc is a holding company. The Company is a retirement, investment and insurance company, which provides retirement services, annuities, investment management services, mutual funds, life insurance, group insurance and supplemental health products. It provides its principal products and services in two ongoing businesses: Retirement and Investment Solutions, and Insurance Solutions.
Receive News & Ratings for Voya Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Voya Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.