Voya Financial (NYSE:VOYA) Upgraded at UBS Group

UBS Group upgraded shares of Voya Financial (NYSE:VOYA - Free Report) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

A number of other research analysts have also recently issued reports on VOYA. Piper Sandler lifted their price objective on Voya Financial from $88.00 to $91.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Citigroup raised their price objective on shares of Voya Financial from $86.00 to $91.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. Royal Bank of Canada upped their target price on shares of Voya Financial from $90.00 to $95.00 and gave the stock an "outperform" rating in a research note on Tuesday. Jefferies Financial Group raised their price target on shares of Voya Financial from $78.00 to $80.00 and gave the company a "hold" rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. downgraded Voya Financial from an "overweight" rating to a "neutral" rating and set a $87.00 target price on the stock. in a research note on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Voya Financial has an average rating of "Moderate Buy" and a consensus price target of $86.00.

Voya Financial Stock Down 1.5 %

VOYA traded down $1.21 on Monday, hitting $82.11. The company had a trading volume of 1,135,559 shares, compared to its average volume of 822,966. The stock has a fifty day simple moving average of $78.66 and a 200-day simple moving average of $73.94. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $7.90 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.59 and a beta of 1.03. 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 released its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.07. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.86 billion. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The firm's revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 earnings per share. As a group, equities analysts expect that Voya Financial will post 8.21 EPS for the current fiscal year.

Voya Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, November 26th. Voya Financial's payout ratio is 28.66%.

Insider Activity

In related news, insider Tony D. Oh sold 715 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total value of $58,594.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.37% of the company's stock.

Hedge Funds Weigh In On Voya Financial

Several institutional investors and hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in Voya Financial in the third quarter worth about $29,000. UMB Bank n.a. increased its stake in Voya Financial by 118.9% during the 3rd quarter. UMB Bank n.a. now owns 440 shares of the asset manager's stock valued at $35,000 after purchasing an additional 239 shares in the last quarter. Quarry LP purchased a new position in shares of Voya Financial in the second quarter worth $61,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Voya Financial by 6,850.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager's stock worth $62,000 after buying an additional 822 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Voya Financial by 3,640.9% during the third quarter. Blue Trust Inc. now owns 823 shares of the asset manager's stock valued at $65,000 after buying an additional 801 shares during the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

Voya Financial Company Profile

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.