Voya Financial (NYSE:VOYA) Trading Down 4.5% – Time to Sell?

Voya Financial, Inc. (NYSE:VOYA) shares were down 4.5% on Tuesday . The company traded as low as $75.30 and last traded at $75.48. Approximately 936,839 shares changed hands during trading, an increase of 15% from the average daily volume of 813,084 shares. The stock had previously closed at $79.00.

Analyst Ratings Changes

VOYA has been the topic of several analyst reports. Bank of America boosted their target price on Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Evercore ISI lifted their target price on Voya Financial from $79.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Morgan Stanley decreased their price objective on shares of Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company lifted their price objective on Voya Financial from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada upped their price target on shares of Voya Financial from $83.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.27.

Voya Financial Price Performance

The stock has a 50-day simple moving average of $77.30 and a 200 day simple moving average of $73.42. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 0.56 and a beta of 1.03. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.07. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.86 billion. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.07 EPS. On average, equities research analysts forecast that Voya Financial, Inc. will post 8.28 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, November 26th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Tuesday, November 26th. Voya Financial’s dividend payout ratio is currently 23.72%.

Institutional Investors Weigh In On Voya Financial

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Voya Financial by 6.2% during the first quarter. Vanguard Group Inc. now owns 11,067,291 shares of the asset manager’s stock worth $818,094,000 after acquiring an additional 644,216 shares during the period. Boston Partners boosted its position in shares of Voya Financial by 83.8% during the 1st quarter. Boston Partners now owns 2,525,604 shares of the asset manager’s stock worth $186,310,000 after acquiring an additional 1,151,822 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 acquiring an additional 2,156,773 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Voya Financial by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock valued at $146,234,000 after purchasing an additional 248,795 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Voya Financial by 29.6% during the second quarter. AQR Capital Management LLC now owns 651,803 shares of the asset manager’s stock worth $46,376,000 after purchasing an additional 148,810 shares during the last quarter. 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.