Voya Financial (NYSE:VOYA) had its target price trimmed by Morgan Stanley from $61.00 to $59.00 in a report issued on Thursday morning. The brokerage currently has an overweight rating on the asset manager’s stock.
VOYA has been the subject of a number of other research reports. Royal Bank of Canada reissued a buy rating and set a $55.00 target price on shares of Voya Financial in a research report on Friday, December 22nd. Evercore ISI raised shares of Voya Financial from an in-line rating to an outperform rating and increased their target price for the company from $47.00 to $60.00 in a research report on Thursday, December 21st. Keefe, Bruyette & Woods reissued a buy rating and set a $55.00 target price on shares of Voya Financial in a research report on Thursday, December 21st. Wells Fargo set a $63.00 target price on shares of Voya Financial and gave the company a buy rating in a research report on Thursday, March 1st. Finally, Bank of America initiated coverage on shares of Voya Financial in a research report on Monday, March 26th. They set a buy rating and a $60.00 target price for the company. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $57.17.
Shares of VOYA traded down $1.53 during mid-day trading on Thursday, hitting $49.19. The company’s stock had a trading volume of 1,590,169 shares, compared to its average volume of 2,425,836. Voya Financial has a 52-week low of $33.53 and a 52-week high of $54.87. The stock has a market capitalization of $8,569.22, a PE ratio of 16.73, a PEG ratio of 0.74 and a beta of 1.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.18 and a current ratio of 0.18.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, February 28th were issued a $0.01 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.08%. Voya Financial’s dividend payout ratio is currently 1.33%.
Voya Financial declared that its board has initiated a share buyback program on Tuesday, February 13th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other Voya Financial news, insider Kevin D. Silva sold 895 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $50.77, for a total value of $45,439.15. Following the completion of the transaction, the insider now owns 9,299 shares of the company’s stock, valued at $472,110.23. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Kevin D. Silva sold 5,480 shares of the stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $51.70, for a total transaction of $283,316.00. Following the completion of the sale, the insider now owns 14,577 shares in the company, valued at approximately $753,630.90. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Voya Financial by 92.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,104 shares of the asset manager’s stock worth $103,000 after acquiring an additional 1,008 shares during the period. CIBC Asset Management Inc increased its stake in shares of Voya Financial by 12.9% in the fourth quarter. CIBC Asset Management Inc now owns 9,028 shares of the asset manager’s stock worth $447,000 after acquiring an additional 1,028 shares during the period. Public Employees Retirement Association of Colorado increased its stake in shares of Voya Financial by 0.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 255,423 shares of the asset manager’s stock worth $12,636,000 after acquiring an additional 1,147 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Voya Financial by 2.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 71,000 shares of the asset manager’s stock worth $2,844,000 after acquiring an additional 1,400 shares during the period. Finally, Xact Kapitalforvaltning AB increased its stake in shares of Voya Financial by 11.3% in the fourth quarter. Xact Kapitalforvaltning AB now owns 17,202 shares of the asset manager’s stock worth $851,000 after acquiring an additional 1,745 shares during the period.
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Voya Financial Company Profile
Voya Financial, Inc operates as a retirement, investment, and insurance company in the United States. It operates through Retirement, Investment Management, Individual Life, and Employee Benefits segments. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual account rollover plans and other retail financial products, as well as financial planning and advisory services.
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