Voya Financial’s (VOYA) Buy Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their buy rating on shares of Voya Financial (NYSE:VOYA) in a report published on Friday. They currently have a $55.00 price target on the asset manager’s stock.

A number of other analysts also recently weighed in on VOYA. BidaskClub upgraded shares of Voya Financial from a hold rating to a buy rating in a report on Saturday, September 23rd. Goldman Sachs Group started coverage on shares of Voya Financial in a report on Wednesday, October 18th. They issued a buy rating and a $46.00 target price on the stock. Wells Fargo & Co set a $50.00 target price on shares of Voya Financial and gave the stock a buy rating in a report on Tuesday, October 31st. Keefe, Bruyette & Woods restated a buy rating and issued a $51.00 target price on shares of Voya Financial in a report on Friday, November 10th. Finally, Sandler O’Neill upgraded shares of Voya Financial from a hold rating to a buy rating in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $50.36.

Shares of Voya Financial (VOYA) opened at $51.14 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.44. The stock has a market cap of $9,190.00, a price-to-earnings ratio of -28.73, a price-to-earnings-growth ratio of 0.95 and a beta of 1.65. Voya Financial has a fifty-two week low of $33.53 and a fifty-two week high of $52.48.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Tuesday, October 31st. The asset manager reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.39). The company had revenue of $226.50 million during the quarter, compared to the consensus estimate of $322.92 million. Voya Financial had a negative net margin of 3.64% and a positive return on equity of 3.92%. During the same quarter in the prior year, the firm posted ($1.24) earnings per share. equities research analysts predict that Voya Financial will post 3 earnings per share for the current year.

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 dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.04 annualized dividend and a yield of 0.08%. Voya Financial’s payout ratio is -2.25%.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Voya Financial by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 15,350,277 shares of the asset manager’s stock valued at $566,271,000 after buying an additional 125,764 shares during the period. Franklin Resources Inc. lifted its position in shares of Voya Financial by 1.7% in the 2nd quarter. Franklin Resources Inc. now owns 13,647,536 shares of the asset manager’s stock worth $503,475,000 after purchasing an additional 233,423 shares during the period. BlackRock Inc. lifted its position in shares of Voya Financial by 2.5% in the 2nd quarter. BlackRock Inc. now owns 10,921,195 shares of the asset manager’s stock worth $402,882,000 after purchasing an additional 269,982 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Voya Financial by 5.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,435,846 shares of the asset manager’s stock worth $256,727,000 after purchasing an additional 323,678 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Voya Financial by 28.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,655,104 shares of the asset manager’s stock worth $208,617,000 after purchasing an additional 1,236,885 shares during the period. 96.79% of the stock is owned by institutional investors.

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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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