Royal Bank Of Canada restated their buy rating on shares of Voya Financial, Inc. (NYSE:VOYA) in a research report sent to investors on Wednesday. The brokerage currently has a $46.00 price objective on the asset manager’s stock.
VOYA has been the topic of several other reports. Wells Fargo & Company reissued a buy rating on shares of Voya Financial in a research note on Tuesday, August 1st. ValuEngine lowered Voya Financial from a strong-buy rating to a buy rating in a research note on Monday, August 7th. Finally, BidaskClub raised Voya Financial from a sell rating to a hold rating in a research report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $46.11.
Shares of Voya Financial (VOYA) opened at 36.52 on Wednesday. Voya Financial has a 1-year low of $27.73 and a 1-year high of $42.96. The company’s 50-day moving average price is $38.45 and its 200-day moving average price is $37.77. The company’s market capitalization is $6.56 billion.
Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, August 1st. The asset manager reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.18. Voya Financial had a negative net margin of 7.67% and a positive return on equity of 3.68%. The business had revenue of $272.90 million during the quarter, compared to analyst estimates of $318.84 million. During the same period last year, the firm posted $0.79 earnings per share. On average, equities analysts expect that Voya Financial will post $3.35 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, August 31st will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.04 annualized dividend and a yield of 0.11%. Voya Financial’s dividend payout ratio (DPR) is currently -1.04%.
In related news, insider Kevin D. Silva sold 8,500 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $40.28, for a total transaction of $342,380.00. Following the completion of the sale, the insider now owns 5,379 shares in the company, valued at $216,666.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.17% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Voya Financial by 0.8% during the second quarter. Vanguard Group Inc. now owns 15,350,277 shares of the asset manager’s stock worth $566,271,000 after buying an additional 125,764 shares in the last quarter. Franklin Resources Inc. grew its holdings in Voya Financial by 1.7% during the second quarter. Franklin Resources Inc. now owns 13,647,536 shares of the asset manager’s stock worth $503,475,000 after buying an additional 233,423 shares in the last quarter. BlackRock Inc. grew its holdings in Voya Financial by 2.5% during the second quarter. BlackRock Inc. now owns 10,921,195 shares of the asset manager’s stock worth $402,882,000 after buying an additional 269,982 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Voya Financial by 28.0% during the second quarter. JPMorgan Chase & Co. now owns 5,655,104 shares of the asset manager’s stock worth $208,617,000 after buying an additional 1,236,885 shares in the last quarter. Finally, State Street Corp grew its holdings in Voya Financial by 1.0% during the second quarter. State Street Corp now owns 5,626,094 shares of the asset manager’s stock worth $207,554,000 after buying an additional 56,189 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.
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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