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.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Citigroup assumed coverage on Voya Financial in a report on Monday, May 23rd. They issued a "buy" rating and a $82.00 price objective on the stock. TheStreet cut Voya Financial from a "b" rating to a "c" rating in a report on Friday, June 10th. Piper Sandler decreased their price objective on Voya Financial from $71.00 to $65.00 and set a "neutral" rating on the stock in a report on Friday, July 8th. Morgan Stanley boosted their target price on Voya Financial from $73.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. cut their target price on Voya Financial from $77.00 to $75.00 in a research report on Monday, July 11th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $76.90.
Voya Financial Stock Up 0.1 %
Shares of Voya Financial stock traded up $0.07 during trading hours on Monday, reaching $60.50. 520,278 shares of the company were exchanged, compared to its average volume of 1,253,922. Voya Financial has a 1 year low of $56.20 and a 1 year high of $74.97. The stock's fifty day moving average is $60.80 and its 200 day moving average is $64.46. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $6.18 billion, a PE ratio of 11.50, a PEG ratio of 2.14 and a beta of 1.26.
Voya Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Friday, August 26th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Thursday, August 25th. Voya Financial's dividend payout ratio is currently 9.02%.