Voya Financial (NYSE:VOYA) Hits New 52-Week High – Should You Buy?

Voya Financial, Inc. (NYSE:VOYA)’s share price reached a new 52-week high on Monday . The company traded as high as $83.95 and last traded at $83.67, with a volume of 256368 shares traded. The stock had previously closed at $81.28.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on VOYA shares. Royal Bank of Canada boosted their price objective on shares of Voya Financial from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday. Jefferies Financial Group raised their target price on shares of Voya Financial from $78.00 to $80.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. UBS Group upgraded Voya Financial to a “strong-buy” rating in a report on Monday. Citigroup boosted their price objective 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. Finally, Bank of America lifted their price target on Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Voya Financial Stock Performance

The stock has a market cap of $7.90 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.59 and a beta of 1.03. The firm has a 50 day moving average of $78.66 and a two-hundred day moving average of $73.94. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.31 and a current ratio of 0.31.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.07. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the company earned $2.07 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis. On average, research analysts predict that Voya Financial, Inc. will post 8.21 EPS for the current fiscal year.

Voya Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, November 26th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.19%. Voya Financial’s dividend payout ratio (DPR) is presently 28.66%.

Insider Buying and Selling at Voya Financial

In other news, insider Tony D. Oh sold 715 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total transaction of $58,594.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Voya Financial

A number of large investors have recently added to or reduced their stakes in VOYA. Vanguard Group Inc. raised its position in Voya Financial by 6.2% during the first quarter. Vanguard Group Inc. now owns 11,067,291 shares of the asset manager’s stock valued at $818,094,000 after purchasing an additional 644,216 shares in the last quarter. FMR LLC grew its holdings in shares of Voya Financial by 25.9% during the 3rd quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock valued at $228,474,000 after purchasing an additional 592,523 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Voya Financial by 1.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager’s stock worth $212,152,000 after purchasing an additional 38,438 shares in the last quarter. Boston Partners lifted its stake in Voya Financial by 83.8% in the 1st quarter. Boston Partners now owns 2,525,604 shares of the asset manager’s stock valued at $186,310,000 after purchasing an additional 1,151,822 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Voya Financial by 1,020.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,368,185 shares of the asset manager’s stock valued at $175,057,000 after buying an additional 2,156,773 shares in the last quarter. Institutional investors 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.