Morgan Stanley Issues Positive Forecast for Voya Financial (NYSE:VOYA) Stock Price

Voya Financial (NYSE:VOYA) had its price objective lifted by Morgan Stanley from $70.00 to $86.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the asset manager’s stock.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada reduced their price target on shares of Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Bank of America reaffirmed an “underperform” rating and set a $71.00 price target (down from $79.00) on shares of Voya Financial in a research report on Friday, March 28th. Wells Fargo & Company increased their price target on Voya Financial from $69.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. UBS Group cut their price objective on Voya Financial from $94.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. decreased their target price on Voya Financial from $81.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $82.00.

Voya Financial Stock Down 0.4%

Shares of VOYA opened at $69.27 on Monday. Voya Financial has a fifty-two week low of $52.43 and a fifty-two week high of $84.30. The company’s fifty day moving average is $62.93 and its two-hundred day moving average is $69.66. The firm has a market cap of $6.66 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 0.48 and a beta of 0.95. 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 posted its quarterly earnings results on Tuesday, May 6th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.56. The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.94 billion. Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.77 earnings per share. Analysts forecast that Voya Financial will post 8.39 earnings per share for the current year.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.60%. The ex-dividend date is Tuesday, May 27th. Voya Financial’s payout ratio is currently 33.96%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp grew its position in Voya Financial by 81.0% in the 4th quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager’s stock valued at $28,000 after buying an additional 183 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in Voya Financial by 207.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 485 shares of the asset manager’s stock worth $33,000 after purchasing an additional 327 shares during the period. Quarry LP bought a new position in Voya Financial during the 4th quarter valued at $37,000. R Squared Ltd bought a new position in Voya Financial during the 4th quarter valued at $41,000. Finally, Venturi Wealth Management LLC increased its position in shares of 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 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.