Royal Bank of Canada Cuts Voya Financial (NYSE:VOYA) Price Target to $85.00

Voya Financial (NYSE:VOYA) had its price target reduced by Royal Bank of Canada from $90.00 to $85.00 in a report published on Monday,Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

A number of other equities research analysts also recently issued reports on VOYA. Keefe, Bruyette & Woods reduced their price objective on shares of Voya Financial from $92.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Barclays dropped their target price on shares of Voya Financial from $85.00 to $81.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 10th. Evercore ISI dropped their target price on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 10th. Piper Sandler dropped their price target on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Voya Financial from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued 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 target price of $82.18.

Voya Financial Price Performance

Shares of NYSE:VOYA opened at $72.23 on Monday. The firm has a market cap of $6.95 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 0.49 and a beta of 1.05. The firm’s fifty day moving average is $71.24 and its 200-day moving average is $74.10. 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 has a 52 week low of $63.11 and a 52 week high of $84.30.

Voya Financial (NYSE:VOYA) last released its earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. Sell-side analysts predict that Voya Financial will post 7.11 earnings per share for the current year.

Voya Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, February 25th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $1.80 annualized dividend and a dividend yield of 2.49%. Voya Financial’s dividend payout ratio is 28.66%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in Voya Financial during the 3rd quarter valued at about $29,000. SRS Capital Advisors Inc. increased its stake in Voya Financial by 207.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 485 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 327 shares in the last quarter. UMB Bank n.a. increased its stake in Voya Financial by 118.9% during the 3rd quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 239 shares in the last quarter. R Squared Ltd bought a new stake in Voya Financial during the 4th quarter valued at about $41,000. Finally, Venturi Wealth Management LLC increased its stake in Voya Financial by 45.0% during the 4th quarter. Venturi Wealth Management LLC now owns 648 shares of the asset manager’s stock valued at $45,000 after purchasing an additional 201 shares in the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

About Voya Financial

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.