Voya Financial Inc. (VOYA) expanding its growth trajectory ahead

Voya Financial Inc. (NYSE: VOYA) stock jumped 1.82% on Thursday to $69.29 against a previous-day closing price of $68.05. With 1.16 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.94 million shares. During the session, the Financial Conglomerates company that operates in wider Financial sector, reached to the highest price of $69.70 whereas the lowest price it dropped to was $67.74. The 52-week range on VOYA shows that it touched its highest point at $78.11 and its lowest point at $56.20 during that stretch. It currently has a 1-year price target of $83.29. With its current market cap of 6.87 billion, VOYA has annualized dividend of $0.80 while the current yield stands at 1.15%. Beta for the stock currently stands at 1.16.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of VOYA was down-trending over the past week, with a drop of -2.52%, but this was down by -7.65% over a month. Three-month performance dropped to -5.84% while six-month performance rose 5.90%. The stock gained 6.88% in the past year, while it has gained 12.68% so far this year. A look at the trailing 12-month EPS for VOYA yields 4.80 with Next year EPS estimates of 9.24. For the next quarter, that number is 2.03. This implies an EPS growth rate of -74.00% for this year and 16.94% for next year. EPS is expected to grow by 1.53% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 37.70%.

Float and Shares Shorts:

At present, 97.70 million VOYA shares are outstanding with a float of 82.60 million shares on hand for trading. On Apr 27, 2023, short shares totaled 16.23 million, which was 16.52% higher than short shares on Mar 30, 2023. In addition to Mr. Rodney Owen Martin Jr. as the firm’s Exec. Chairman, Ms. Heather Hamilton Lavallee serves as its Pres, CEO & Director.

Institutional Ownership:

Through their ownership of 117.72% of VOYA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 84.04% of VOYA, in contrast to 67.03% held by mutual funds. Shares owned by individuals account for 54.80%. As the largest shareholder in VOYA with 9.92% of the stake, The Vanguard Group, Inc. holds 9,648,316 shares worth 9,648,316. A second-largest stockholder of VOYA, BlackRock Fund Advisors, holds 7,977,609 shares, controlling over 8.20% of the firm’s shares. Wellington Management Co. LLP is the third largest shareholder in VOYA, holding 7,950,530 shares or 8.17% stake. With a 4.99% stake in VOYA, the Vanguard Windsor Funds – Vanguard is the largest stakeholder. A total of 4,853,048 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 3.11% of VOYA stock, is the second-largest Mutual Fund holder. It holds 3,026,909 shares valued at 231.5 million. Vanguard Total Stock Market ETF holds 3.10% of the stake in VOYA, owning 3,011,856 shares worth 230.35 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for VOYA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With VOYA analysts setting a high price target of $90.00 and a low target of $71.00, the average target price over the next 12 months is $83.56. Based on these targets, VOYA could surge 29.89% to reach the target high and rise by 2.47% to reach the target low. Reaching the average price target will result in a growth of 20.59% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded VOYA stock several times over the past three months with 0 Buys and 4 Sells. In these transactions, 0 shares were bought while 64,324 shares were sold. The number of buy transactions has increased to 50 while that of sell transactions has risen to 69 over the past year. The total number of shares bought during that period was 316,598 while 511,371 shares were sold.

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