Jefferies Financial Group has lowered its target price for Voya Financial stock from $80.00 to $75.00. The firm currently has a hold rating on the asset manager’s stock. Other equities research analysts have also weighed in on Voya Financial, with some dropping their target prices while others have increased their target prices. Three research analysts have given the stock a hold rating, six have issued a buy rating, and one has given a strong buy rating. MarketBeat.com reports that Voya Financial has a consensus rating of Moderate Buy and an average price target of $82.89.
Voya Financial stock opened at $69.48 on Thursday. The company has a market capitalization of $7.35 billion and a PE ratio of 12.34. Its 50-day moving average price is $71.83, and its 200-day moving average price is $71.39. The stock has a 12-month low of $58.63 and a 12-month high of $78.11.
In its most recent quarterly earnings report, Voya Financial beat the consensus estimate for EPS, reporting $2.31 EPS compared to the estimated $2.05 EPS. The company had revenue of $347.00 million for the quarter, exceeding analyst estimates of $319.09 million. Voya Financial’s return on equity was reported as 16.61%, with a net margin of 10.53%. Sell-side analysts predict that Voya Financial will post 8.41 EPS for the current fiscal year.
Voya Financial recently announced an increase in its quarterly dividend. On September 27th, stockholders will receive a dividend of $0.40 per share, representing a positive change from the previous quarterly dividend of $0.20. The new dividend represents an annualized dividend of $1.60 and a dividend yield of 2.30%. As of now, Voya Financial’s dividend payout ratio is 28.42%.
In terms of insider transactions, Director Yvette S. Butler sold 2,074 shares of Voya Financial stock at an average price of $72.93. This transaction was filed with the Securities & Exchange Commission and makes up 1.44% of the company’s stock.
Institutional investors and hedge funds have recently made moves with Voya Financial stock. American Century Companies Inc. increased its holdings in the asset manager’s stock by 73.0% in the first quarter. HighTower Advisors LLC, PNC Financial Services Group Inc., Natixis Advisors L.P., and D.A. Davidson & CO. have also made significant changes to their Voya Financial stock holdings.
Voya Financial, Inc. operates as a retirement, investment, and employee benefits company in the United States. The company’s Wealth Solutions segment offers retirement saving plans, individual retirement accounts, financial planning services, and other retail financial products and services.
Sources:
– Jefferies Financial Group lowers Voya Financial target price to $75.00
– MarketBeat.com reports consensus rating of Moderate Buy for Voya Financial
– Voya Financial beats EPS consensus estimate in quarterly earnings report
– Voya Financial increases dividend to $0.40 per share
– Director Yvette S. Butler sells 2,074 shares of Voya Financial stock
– Institutional investors and hedge funds make moves with Voya Financial stock
Definitions:
– Target price: The projected price level of a financial security as stated by an investment analyst or advisor
– EPS: Earnings Per Share, a financial metric that indicates a company’s profitability
– Dividend: A payment made by a corporation to its shareholders, usually on a regular basis, from its profits or reserves
– Payout ratio: The percentage of a company’s earnings that are paid out to shareholders as dividends
– Net margin: The percentage of revenue that remains as profit after all expenses have been deducted
– Institutional investors: Organizations that pool together large sums of money to invest in a variety of financial instruments on behalf of their clients or members
