Royal Bank Of Canada reissued their buy rating on shares of Voya Financial, Inc. (NYSE:VOYA) in a research report released on Thursday morning. The brokerage currently has a $50.00 price objective on the asset manager’s stock.
Several other brokerages have also issued reports on VOYA. BidaskClub upgraded Voya Financial from a buy rating to a strong-buy rating in a research report on Wednesday, August 9th. ValuEngine lowered Voya Financial from a strong-buy rating to a buy rating in a research report on Monday, August 7th. Wells Fargo & Company set a $50.00 target price on Voya Financial and gave the company a buy rating in a research report on Tuesday, October 31st. Finally, Goldman Sachs Group, Inc. (The) began coverage on Voya Financial in a research report on Wednesday, October 18th. They set a buy rating and a $46.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $47.60.
Shares of Voya Financial (NYSE VOYA) traded down $0.66 on Thursday, hitting $41.85. 1,388,969 shares of the company traded hands, compared to its average volume of 1,357,599. Voya Financial has a fifty-two week low of $29.80 and a fifty-two week high of $42.96. The stock has a market capitalization of $7,522.41, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 0.71 and a beta of 1.62. The company has a quick ratio of 0.13, a current ratio of 0.14 and a debt-to-equity ratio of 0.44.
Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, October 31st. The asset manager reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.39). Voya Financial had a negative net margin of 3.64% and a positive return on equity of 3.92%. The business had revenue of $226.50 million for the quarter, compared to analysts’ expectations of $322.92 million. During the same quarter last year, the firm earned ($1.24) EPS. equities research analysts expect that Voya Financial will post 3.23 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, November 30th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.10%. Voya Financial’s payout ratio is -2.23%.
Voya Financial announced that its board has authorized a share repurchase program on Tuesday, October 31st that authorizes the company to buyback $800.00 million in shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank lifted its holdings in Voya Financial by 7.9% during the second quarter. Toronto Dominion Bank now owns 2,728 shares of the asset manager’s stock worth $101,000 after buying an additional 199 shares during the period. Reliance Trust Co. of Delaware purchased a new stake in Voya Financial during the third quarter worth $215,000. Paragon Capital Management Ltd purchased a new stake in Voya Financial during the second quarter worth $239,000. Campbell & CO Investment Adviser LLC purchased a new stake in Voya Financial during the second quarter worth $254,000. Finally, TLP Group LLC purchased a new stake in Voya Financial during the second quarter worth $262,000. Institutional investors own 96.61% of the company’s stock.
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.
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