Voya Financial (NYSE:VOYA) Price Target Raised to $79.00

Voya Financial (NYSE:VOYA) had its price objective hoisted by Wells Fargo & Company from $76.00 to $79.00 in a report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

A number of other research analysts have also issued reports on the stock. Barclays lowered shares of Voya Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Royal Bank of Canada dropped their target price on shares of Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Bank of America reiterated a “neutral” rating and issued a $83.00 target price (down from $91.00) on shares of Voya Financial in a report on Wednesday, December 11th. Keefe, Bruyette & Woods cut their price target on shares of Voya Financial from $90.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Finally, Morgan Stanley cut their price target on shares of Voya Financial from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Voya Financial has an average rating of “Moderate Buy” and a consensus price target of $82.55.

Voya Financial Trading Down 2.2 %

NYSE VOYA opened at $71.97 on Wednesday. Voya Financial has a one year low of $64.10 and a one year high of $84.30. The company has a 50-day simple moving average of $70.10 and a 200-day simple moving average of $74.26. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.31 and a current ratio of 0.30. The firm has a market capitalization of $6.92 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 0.48 and a beta of 1.05.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, February 4th. The asset manager reported $1.50 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. On average, equities analysts forecast that Voya Financial will post 8.39 earnings per share for the current year.

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Tuesday, February 25th. Voya Financial’s dividend payout ratio is currently 29.41%.

Institutional Investors Weigh In On Voya Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Voloridge Investment Management LLC bought a new position in shares of Voya Financial in the 4th quarter valued at about $415,000. Worldquant Millennium Advisors LLC raised its holdings in Voya Financial by 37.3% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 8,006 shares of the asset manager’s stock worth $551,000 after buying an additional 2,177 shares during the period. Vident Advisory LLC acquired a new stake in Voya Financial during the 4th quarter worth approximately $250,000. Twinbeech Capital LP acquired a new stake in Voya Financial during the 4th quarter worth approximately $14,800,000. Finally, Two Sigma Advisers LP raised its holdings in Voya Financial by 25.1% during the 4th quarter. Two Sigma Advisers LP now owns 133,700 shares of the asset manager’s stock worth $9,203,000 after buying an additional 26,800 shares during the period. Institutional investors 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.