Voya Financial (NYSE:VOYA) Stock Gets Price Target Trim from Wells Fargo & Company

Voya Financial (NYSE:VOYA) had its price target cut by Wells Fargo & Company from $104.00 to $102.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

Several other research analysts have also recently issued reports on the company. Atlantic Securities set a $79.00 price objective on Voya Financial in a research report on Wednesday, July 15th. Weiss Ratings upgraded shares of Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 29th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $108.00 target price (down from $110.00) on shares of Voya Financial in a research report on Friday, October 9th. TD Cowen upped their price target on shares of Voya Financial from $112.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Finally, Barclays upped their price target on shares of Voya Financial from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.00.

Voya Financial Stock Performance

Shares of VOYA stock opened at $95.02 on Monday. The company has a market cap of $8.61 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 0.95 and a beta of 0.90. The stock has a 50 day simple moving average of $99.48 and a 200-day simple moving average of $90.49. Voya Financial has a 12-month low of $64.50 and a 12-month high of $105.64. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.47). Voya Financial had a net margin of 7.45% and a return on equity of 12.31%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period in the prior year, the business earned $1.66 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities analysts forecast that Voya Financial will post 9.22 EPS for the current year.

Voya Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Wednesday, August 26th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, August 26th. Voya Financial’s payout ratio is currently 31.70%.

Institutional Investors Weigh In On Voya Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG purchased a new stake in Voya Financial in the 2nd quarter worth approximately $1,010,000. Quantinno Capital Management LP lifted its stake in shares of Voya Financial by 6.8% during the 1st quarter. Quantinno Capital Management LP now owns 237,550 shares of the asset manager’s stock worth $16,229,000 after purchasing an additional 15,186 shares during the period. BlackRock Inc. purchased a new position in shares of Voya Financial during the 2nd quarter worth $850,187,000. Tidal Investments LLC lifted its stake in shares of Voya Financial by 172.7% during the 2nd quarter. Tidal Investments LLC now owns 21,487 shares of the asset manager’s stock worth $1,945,000 after purchasing an additional 13,608 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Voya Financial during the second quarter worth $2,045,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

About Voya Financial

Voya Financial, Inc is a financial services company that helps individuals, employers and institutions plan, invest and prepare for retirement. The company operates primarily in the United States and focuses on retirement plans, employee benefits and investment management.

Voya’s retirement business provides workplace retirement plans and related services, including plan administration, participant education and advice. Its employee benefits business offers products and services such as group life insurance, disability insurance, supplemental health benefits and health savings account solutions.

Through its investment management operations, Voya serves institutional and individual investors with investment strategies across public and private markets.