Voya Financial (NYSE:VOYA) Price Target Cut to $76.00 by Analysts at Morgan Stanley

Voya Financial (NYSE:VOYA) had its price target decreased by Morgan Stanley from $78.00 to $76.00 in a research report released on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the asset manager’s stock.

A number of other brokerages have also issued reports on VOYA. Piper Sandler dropped their price target on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut their target price 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. Evercore ISI reduced their price target on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 10th. Barclays lowered Voya Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, UBS Group raised Voya Financial to a “strong-buy” rating in a report on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Voya Financial presently has an average rating of “Moderate Buy” and a consensus price target of $82.27.

Voya Financial Stock Up 2.6 %

NYSE VOYA opened at $73.97 on Tuesday. The stock has a market cap of $7.12 billion, a PE ratio of 12.09, a P/E/G ratio of 0.46 and a beta of 1.05. The business has a 50 day moving average price of $70.40 and a two-hundred day moving average price of $74.11. Voya Financial has a fifty-two week low of $64.10 and a fifty-two week high of $84.30. The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 0.59.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. As a group, sell-side analysts predict that Voya Financial will post 8.95 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, February 25th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Tuesday, February 25th. Voya Financial’s payout ratio is 29.41%.

Hedge Funds Weigh In On Voya Financial

Several institutional investors have recently modified their holdings of VOYA. Bank of New York Mellon Corp boosted its stake in Voya Financial by 15.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager’s stock valued at $445,487,000 after purchasing an additional 876,399 shares during the period. Impax Asset Management Group plc raised its holdings in shares of Voya Financial by 277.8% during the fourth quarter. Impax Asset Management Group plc now owns 2,898,785 shares of the asset manager’s stock valued at $199,062,000 after buying an additional 2,131,578 shares during the last quarter. FMR LLC boosted its position in shares of Voya Financial by 25.9% during the third quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock worth $228,474,000 after buying an additional 592,523 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Voya Financial by 1.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager’s stock worth $212,152,000 after buying an additional 38,438 shares in the last quarter. Finally, GW&K Investment Management LLC increased its position in Voya Financial by 0.8% in the 4th quarter. GW&K Investment Management LLC now owns 1,012,964 shares of the asset manager’s stock valued at $69,722,000 after acquiring an additional 8,024 shares during the period. Institutional investors own 96.10% of the company’s stock.

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.