Wells Fargo & Company Cuts Voya Financial (NYSE:VOYA) Price Target to $85.00

Voya Financial (NYSE:VOYA) had its price objective reduced by Wells Fargo & Company from $86.00 to $85.00 in a research report sent to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the asset manager’s stock.

A number of other brokerages also recently weighed in on VOYA. Wall Street Zen downgraded Voya Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Keefe, Bruyette & Woods decreased their target price on Voya Financial from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Voya Financial in a report on Monday, December 29th. Evercore decreased their price objective on shares of Voya Financial from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada increased their price objective on shares of Voya Financial from $85.00 to $87.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Voya Financial currently has an average rating of “Moderate Buy” and an average target price of $86.67.

Voya Financial Trading Down 6.7%

Voya Financial stock opened at $66.86 on Wednesday. Voya Financial has a one year low of $52.43 and a one year high of $79.99. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 0.48 and a beta of 0.89. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a 50-day moving average of $75.11 and a 200-day moving average of $74.18.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, February 3rd. The asset manager reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.17). Voya Financial had a net margin of 7.99% and a return on equity of 13.96%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the business earned $1.40 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Wednesday, February 25th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, February 25th. Voya Financial’s dividend payout ratio is 29.89%.

Institutional Investors Weigh In On Voya Financial

A number of large investors have recently bought and sold shares of the company. Root Financial Partners LLC acquired a new stake in shares of Voya Financial during the 3rd quarter worth approximately $26,000. Allworth Financial LP boosted its holdings in shares of Voya Financial by 75.5% in the 3rd quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 151 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of Voya Financial during the 4th quarter worth $28,000. V Square Quantitative Management LLC bought a new stake in shares of Voya Financial during the 4th quarter worth $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Voya Financial by 149.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 481 shares of the asset manager’s stock valued at $34,000 after buying an additional 288 shares in the last quarter. 96.10% of the stock is currently owned by institutional investors and hedge funds.

Voya Financial Company Profile

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.