UBS Group Forecasts Strong Price Appreciation for Voya Financial (NYSE:VOYA) Stock

Key Points

• UBS Group has increased its target price for Voya Financial from $87.00 to $90.00, indicating a potential upside of 23.57% from the current stock price.
• Voya Financial reported a quarterly EPS of $2.15, beating analyst expectations, but its revenue decreased by 4.0% compared to the same quarter last year.
• Research ratings for Voya Financial show mixed sentiments with one sell rating, four hold ratings, and six buy ratings, resulting in a consensus rating of "Hold" with an average target price of $83.70.

Voya Financial (NYSE:VOYA - Free Report) had its target price upped by UBS Group from $87.00 to $90.00 in a research note released on Wednesday morning,Benzinga reports. UBS Group currently has a buy rating on the asset manager's stock.

A number of other equities research analysts have also recently weighed in on VOYA. JPMorgan Chase & Co. lifted their price target on shares of Voya Financial from $80.00 to $89.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Wells Fargo & Company lifted their price target on shares of Voya Financial from $76.00 to $82.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Voya Financial from $80.00 to $83.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Morgan Stanley set a $89.00 price objective on shares of Voya Financial and gave the company an "overweight" rating in a report on Monday, July 14th. Finally, Barclays lifted their price objective on shares of Voya Financial from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $83.70.

Voya Financial Price Performance

Shares of NYSE:VOYA traded up $0.46 during midday trading on Wednesday, hitting $71.08. The company's stock had a trading volume of 663,409 shares, compared to its average volume of 852,365. The business's 50 day simple moving average is $69.92 and its 200 day simple moving average is $67.62. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $6.84 billion, a P/E ratio of 8.70, a price-to-earnings-growth ratio of 0.65 and a beta of 0.99. Voya Financial has a 12-month low of $52.43 and a 12-month high of $84.30.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The asset manager reported $2.40 EPS for the quarter, topping analysts' consensus estimates of $2.09 by $0.31. Voya Financial had a net margin of 6.73% and a return on equity of 13.72%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm earned $2.18 earnings per share. Voya Financial's quarterly revenue was down 2.6% compared to the same quarter last year. On average, analysts forecast that Voya Financial will post 8.39 EPS for the current year.

Voya Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, August 26th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 26th. Voya Financial's dividend payout ratio (DPR) is presently 36.00%.

Insider Buying and Selling at Voya Financial

In other news, Director Yvette S. Butler sold 1,700 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $66.18, for a total value of $112,506.00. Following the sale, the director directly owned 355 shares in the company, valued at approximately $23,493.90. This trade represents a 82.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.37% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. IFP Advisors Inc lifted its stake in Voya Financial by 225.6% in the second quarter. IFP Advisors Inc now owns 433 shares of the asset manager's stock valued at $31,000 after buying an additional 300 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Voya Financial by 149.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 481 shares of the asset manager's stock worth $34,000 after buying an additional 288 shares during the period. Quarry LP acquired a new position in Voya Financial in the 4th quarter valued at $37,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Voya Financial in the 1st quarter valued at $47,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Voya Financial by 44.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager's stock worth $49,000 after purchasing an additional 223 shares during the period. Institutional investors and hedge funds own 96.10% of the company's stock.

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.