Voya Financial, Inc. (VOYA) Rating Increased to Buy at Sandler O’Neill
Voya Financial, Inc. (NYSE:VOYA) was upgraded by analysts at Sandler O’Neill from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, The Fly reports.
Other equities analysts have also issued reports about the stock. BidaskClub upgraded shares of Voya Financial from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $46.00 price objective (up from $44.00) on shares of Voya Financial in a research report on Wednesday, August 9th. ValuEngine lowered shares of Voya Financial from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 7th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $51.00 price objective on shares of Voya Financial in a research report on Friday. Finally, Wells Fargo & Company set a $50.00 price objective on shares of Voya Financial and gave the company a “buy” rating in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $47.70.
Shares of Voya Financial (NYSE:VOYA) traded down $0.62 during trading hours on Monday, reaching $40.71. 1,326,600 shares of the company’s stock were exchanged, compared to its average volume of 1,536,462. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market capitalization of $7,317.50, a price-to-earnings ratio of 14.04, a PEG ratio of 0.73 and a beta of 1.62. Voya Financial has a 12-month low of $33.53 and a 12-month high of $42.96.
Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, October 31st. The asset manager reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.39). The business had revenue of $226.50 million for the quarter, compared to the consensus estimate of $322.92 million. Voya Financial had a positive return on equity of 3.92% and a negative net margin of 3.64%. During the same quarter in the prior year, the business earned ($1.24) EPS. sell-side analysts expect that Voya Financial will post 3.05 EPS for the current year.
Voya Financial announced that its Board of Directors has authorized a share repurchase plan on Tuesday, October 31st that authorizes the company to repurchase $800.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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A number of institutional investors and hedge funds have recently made changes to their positions in VOYA. JPMorgan Chase & Co. raised its stake in Voya Financial by 28.0% in the second quarter. JPMorgan Chase & Co. now owns 5,655,104 shares of the asset manager’s stock valued at $208,617,000 after purchasing an additional 1,236,885 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Voya Financial by 33.2% in the second quarter. UBS Asset Management Americas Inc. now owns 3,362,721 shares of the asset manager’s stock valued at $124,051,000 after purchasing an additional 837,925 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Voya Financial in the second quarter valued at approximately $25,823,000. ALGEBRIS UK Ltd purchased a new stake in Voya Financial in the second quarter valued at approximately $23,060,000. Finally, Scout Investments Inc. purchased a new stake in Voya Financial in the second quarter valued at approximately $20,004,000. 96.62% of the stock is currently owned by institutional investors and hedge funds.
About Voya Financial
Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.
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