Several analysts recently gave their opinions on Voya Financial (VOYA). On August 7, Royal Bank of Canada kept an “outperform” rating with an $83 target price. Bank of America raised their target from $80 to $83 on July 11, also rating it a “buy.” Piper Sandler increased their target from $84 to $88 on October 2, giving it an “overweight” rating. Jefferies Financial raised their target from $78 to $80, maintaining a “hold” rating on July 18. However, JPMorgan Chase downgraded Voya from “overweight” to “neutral” with an $87 target on October 3. Out of 13 analysts, 6 rated it as “hold” and 7 as “buy.” The consensus rating is “Moderate Buy” with a target price of $83.91.
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Voya Financial Stock Performance
Voya Financial’s stock opened at $78.45 on Tuesday. Key financial metrics include a debt-to-equity ratio of 0.51, current and quick ratios of 0.30, and a market cap of $7.90 billion. The companys 50-day moving average is $72.02 and the 200-day is $72.04. Over the past year, shares have ranged from a low of $63.02 to a high of $80.16.
On July 30, Voya Financial reported earnings of $2.27 per share, exceeding expectations of $2.14. Revenue was $2.03 billion, above $1.87 billion projections. They recorded a return on equity of 16.11% and a net margin of 10.87%, with revenue increasing 8.7% year-over-year. Analysts expect an EPS of 8.4 for the current fiscal year.
Voya Financial Increases Dividend
Voya Financial announced a quarterly dividend of $0.45 paid on September 26, up from $0.40, giving an annualized yield of 2.29%. The ex-dividend date was August 27, and the payout ratio is 25.57%.
Hedge Funds Weigh In On Voya Financial
Several institutional investors have changed their stakes in Voya. Notably, FinTrust Capital Advisors acquired shares worth $43,000 in Q1, and Allspring Global Investments increased their holdings significantly. Institutional investors now own 96.10% of Voya’s stock.
About Voya Financial
Voya Financial provides workplace benefits and savings products, operating in three segments: Wealth Solutions, Health Solutions, and Investment Management. Wealth Solutions includes retirement products and services.
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