Voya Financial, Inc. (NYSE:VOYA) Downgraded to Buy at ValuEngine

ValuEngine cut shares of Voya Financial, Inc. (NYSE:VOYA) from a strong-buy rating to a buy rating in a report issued on Monday, August 7th.

VOYA has been the subject of several other reports. Wells Fargo & Company restated a buy rating on shares of Voya Financial in a report on Tuesday, August 1st. Royal Bank Of Canada restated a buy rating and issued a $44.00 price objective on shares of Voya Financial in a report on Wednesday, July 12th. BidaskClub upgraded shares of Voya Financial from a sell rating to a hold rating in a research note on Friday, June 30th. Citigroup Inc. set a $51.00 price objective on shares of Voya Financial and gave the company a buy rating in a research report on Monday, May 8th. Finally, Keefe, Bruyette & Woods reissued a buy rating and set a $50.00 price objective on shares of Voya Financial in a research report on Monday, April 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $46.11.

Shares of Voya Financial (NYSE:VOYA) traded down 0.72% during mid-day trading on Monday, reaching $37.33. The company’s stock had a trading volume of 1,384,566 shares. Voya Financial has a 52-week low of $27.73 and a 52-week high of $42.96. The firm’s market cap is $6.71 billion. The firm has a 50 day moving average price of $38.37 and a 200 day moving average price of $38.11.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.18. The firm had revenue of $272.90 million for the quarter, compared to the consensus estimate of $318.84 million. Voya Financial had a negative net margin of 7.67% and a positive return on equity of 3.68%. During the same period in the previous year, the firm posted $0.79 earnings per share. On average, equities analysts predict that Voya Financial will post $3.37 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, August 31st will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Tuesday, August 29th. Voya Financial’s dividend payout ratio (DPR) is currently -1.04%.

In other Voya Financial news, insider Michael S. Smith acquired 5,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were purchased at an average cost of $35.24 per share, for a total transaction of $176,200.00. Following the completion of the purchase, the insider now owns 69,142 shares in the company, valued at $2,436,564.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kevin D. Silva sold 8,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were 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 of the company’s stock, valued at $216,666.12. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. boosted its position in Voya Financial by 0.3% in the second quarter. Bessemer Group Inc. now owns 20,110 shares of the asset manager’s stock worth $742,000 after buying an additional 63 shares in the last quarter. Clear Harbor Asset Management LLC boosted its position in Voya Financial by 0.6% in the first quarter. Clear Harbor Asset Management LLC now owns 16,605 shares of the asset manager’s stock worth $630,000 after buying an additional 100 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Voya Financial by 1.0% in the first quarter. Envestnet Asset Management Inc. now owns 12,760 shares of the asset manager’s stock valued at $486,000 after buying an additional 126 shares during the period. Lazard Asset Management LLC boosted its position in shares of Voya Financial by 0.9% in the second quarter. Lazard Asset Management LLC now owns 20,291 shares of the asset manager’s stock valued at $748,000 after buying an additional 176 shares during the period. Finally, Toronto Dominion Bank boosted its position in shares of Voya Financial by 7.9% in the second quarter. Toronto Dominion Bank now owns 2,728 shares of the asset manager’s stock valued at $101,000 after buying an additional 199 shares during the period.

Voya Financial Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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