Voya Financial (NYSE:VOYA) Given New $95.00 Price Target at Royal Bank of Canada

Voya Financial (NYSE:VOYA) had its target price upped by Royal Bank of Canada from $90.00 to $95.00 in a report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

Other equities analysts also recently issued reports about the company. Barclays raised their price target on Voya Financial from $84.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Piper Sandler boosted their price target on Voya Financial from $88.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Evercore ISI increased their price objective on shares of Voya Financial from $79.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Raymond James lowered shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. downgraded shares of Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price target on the stock. in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Voya Financial Price Performance

Shares of NYSE:VOYA opened at $81.42 on Tuesday. 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 firm has a market cap of $7.83 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 0.58 and a beta of 1.03. The business has a 50-day simple moving average of $79.32 and a two-hundred day simple moving average of $74.14. Voya Financial has a fifty-two week low of $63.11 and a fifty-two week high of $84.30.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.07. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the company earned $2.07 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts expect that Voya Financial will post 8.2 earnings per share for the current year.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.21%. The ex-dividend date is Tuesday, November 26th. Voya Financial’s dividend payout ratio (DPR) is presently 28.66%.

Insiders Place Their Bets

In other Voya Financial news, insider Tony D. Oh sold 715 shares of Voya Financial stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total value of $58,594.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VOYA. Arjuna Capital lifted its position in Voya Financial by 0.8% during the second quarter. Arjuna Capital now owns 19,685 shares of the asset manager’s stock valued at $1,401,000 after purchasing an additional 161 shares during the last quarter. US Bancorp DE raised its position in shares of Voya Financial by 5.8% during the 3rd quarter. US Bancorp DE now owns 3,655 shares of the asset manager’s stock valued at $290,000 after buying an additional 202 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Voya Financial by 6.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,291 shares of the asset manager’s stock valued at $261,000 after acquiring an additional 210 shares during the last quarter. UMB Bank n.a. grew its position in Voya Financial by 118.9% in the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after acquiring an additional 239 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Voya Financial by 2.2% during the third quarter. State of Alaska Department of Revenue now owns 11,426 shares of the asset manager’s stock worth $905,000 after acquiring an additional 245 shares during the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

About Voya Financial

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.