Voya Financial (NYSE:VOYA) Given New $95.00 Price Target at Royal Bank of Canada

Voya Financial (NYSE:VOYA - Free Report) had its target price hoisted by Royal Bank of Canada from $90.00 to $95.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the asset manager's stock.

VOYA has been the topic of a number of other research reports. Wells Fargo & Company lifted their price target on shares of Voya Financial from $87.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Raymond James downgraded shares of Voya Financial from a "strong-buy" rating to a "market perform" rating in a report on Friday, September 13th. Citigroup increased their price objective on shares of Voya Financial from $86.00 to $91.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. Jefferies Financial Group boosted their target price on shares of Voya Financial from $78.00 to $80.00 and gave the stock a "hold" rating in a report on Thursday, July 18th. Finally, Barclays boosted their target price on Voya Financial from $84.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $86.00.

Voya Financial Trading Up 0.1 %

Shares of VOYA traded up $0.08 during mid-day trading on Tuesday, reaching $83.32. The company's stock had a trading volume of 572,409 shares, compared to its average volume of 821,528. The company's fifty day moving average price is $78.40 and its two-hundred day moving average price is $73.84. The stock has a market cap of $8.02 billion, a PE ratio of 13.33, a P/E/G ratio of 0.58 and a beta of 1.03. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.54. Voya Financial has a 52 week low of $63.11 and a 52 week high of $84.30.

Voya Financial (NYSE:VOYA - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, beating the consensus estimate of $2.05 by $0.07. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm posted $2.07 earnings per share. The business's revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts predict that Voya Financial will post 8.23 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, November 26th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Tuesday, November 26th. Voya Financial's dividend payout ratio is 28.66%.

Insider Buying and Selling

In related news, insider Tony D. Oh sold 715 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total value of $58,594.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.37% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VOYA. Vanguard Group Inc. lifted its holdings in Voya Financial by 6.2% in the first quarter. Vanguard Group Inc. now owns 11,067,291 shares of the asset manager's stock worth $818,094,000 after buying an additional 644,216 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Voya Financial by 1.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager's stock worth $212,152,000 after acquiring an additional 38,438 shares during the period. Boston Partners grew its position in shares of Voya Financial by 83.8% in the first quarter. Boston Partners now owns 2,525,604 shares of the asset manager's stock valued at $186,310,000 after purchasing an additional 1,151,822 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Voya Financial by 1,020.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,368,185 shares of the asset manager's stock worth $175,057,000 after buying an additional 2,156,773 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Voya Financial by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager's stock valued at $146,234,000 after acquiring an additional 248,795 shares during the period. 96.10% of the stock is owned by institutional investors.

About Voya Financial

Voya Financial, Inc engages in the provision of workplace benefits and savings products in the United States and internationally. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees.