Voya Financial, Inc. operates as a retirement, investment, and employee benefits company in the United States. The company's Wealth Solutions segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and services, as well as financial planning and advisory services. This segment serves corporate, education, healthcare, and other non-profit and government entities, as well as institutional and individual customers. Its Investment Management segment provides fixed income, equity, multi-asset, and alternative products and solutions to individual investors and institutional clients through its direct sales force, consultant channel, banks, broker-dealers, and independent financial advisers. The company's Health Solutions segment offers stop loss, group life, voluntary employee-paid, and disability products through consultants, brokers, third-party administrators, enrollment firms, and technology partners to mid-sized and large businesses. The company was formerly known as ING U.S., Inc. and changed its name to Voya Financial, Inc. in April 2014. Voya Financial, Inc. was incorporated in 1999 and is based in New York, New York.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on VOYA shares. TheStreet cut Voya Financial from a "b" rating to a "c" rating in a report on Friday, June 10th. Evercore ISI upped their target price on shares of Voya Financial to $81.00 in a report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Voya Financial from $72.00 to $77.00 and gave the company an "overweight" rating in a research report on Thursday, August 4th. Piper Sandler lowered their target price on shares of Voya Financial from $71.00 to $65.00 and set a "neutral" rating for the company in a research note on Friday, July 8th. Finally, The Goldman Sachs Group raised Voya Financial from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $81.00 to $80.00 in a research note on Friday, June 3rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.91.
Voya Financial Trading Up 2.3 %
Shares of VOYA Stock traded up $1.40 on Thursday, reaching $63.36. 32,862 shares of the stock were exchanged, compared to its average volume of 1,041,898. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.58. The stock has a market cap of $6.47 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 2.16 and a beta of 1.26. The firm has a 50 day moving average of $60.36 and a two-hundred day moving average of $64.35. Voya Financial has a 1-year low of $56.20 and a 1-year high of $74.97.
Voya Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Friday, August 26th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 25th. This represents a $0.80 annualized dividend and a yield of 1.26%. Voya Financial's dividend payout ratio is presently 15.04%.