Voya Financial (NYSE:VOYA) Reaches New 52-Week High at $77.06

Voya Financial, Inc. (NYSE:VOYA)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $77.06 and last traded at $76.93, with a volume of 21595 shares trading hands. The stock had previously closed at $76.48.

Analyst Upgrades and Downgrades

VOYA has been the topic of several recent research reports. Raymond James lowered Voya Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday. Jefferies Financial Group lifted 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. Citigroup upped their target price 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. Bank of America raised their target price on Voya Financial from $80.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Voya Financial from $88.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Voya Financial has a consensus rating of “Moderate Buy” and a consensus price target of $83.64.

Voya Financial Price Performance

The stock has a market cap of $7.78 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 0.56 and a beta of 1.03. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.51. The business’s 50-day simple moving average is $70.13 and its two-hundred day simple moving average is $71.07.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, July 30th. The asset manager reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.13. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the business earned $2.31 EPS. Voya Financial’s revenue was up 8.7% compared to the same quarter last year. Sell-side analysts expect that Voya Financial, Inc. will post 8.42 EPS for the current year.

Voya Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, August 27th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This is a boost from Voya Financial’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.33%. Voya Financial’s dividend payout ratio is currently 25.57%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Hohimer Wealth Management LLC boosted its stake in Voya Financial by 1.7% during the first quarter. Hohimer Wealth Management LLC now owns 8,452 shares of the asset manager’s stock valued at $625,000 after buying an additional 140 shares during the period. SYSTM Wealth Solutions LLC increased its position in shares of Voya Financial by 56.2% in the first quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock worth $31,000 after purchasing an additional 149 shares during the last quarter. Arjuna Capital raised its stake in Voya Financial by 0.8% in the second quarter. Arjuna Capital now owns 19,685 shares of the asset manager’s stock valued at $1,401,000 after purchasing an additional 161 shares in the last quarter. Panagora Asset Management Inc. lifted its position in Voya Financial by 1.3% during the fourth quarter. Panagora Asset Management Inc. now owns 13,115 shares of the asset manager’s stock valued at $957,000 after purchasing an additional 169 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in Voya Financial by 5.3% in the 1st quarter. Blair William & Co. IL now owns 5,380 shares of the asset manager’s stock worth $398,000 after buying an additional 272 shares in the last quarter. 96.10% of the stock is owned by 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.