Voya Financial’s (VOYA) “Overweight” Rating Reaffirmed at Morgan Stanley

Morgan Stanley restated their overweight rating on shares of Voya Financial (NYSE:VOYA) in a research note released on Monday, MarketBeat Ratings reports. They currently have a $90.00 price target on the asset manager’s stock, up from their previous price target of $89.00.

Other research analysts have also recently issued research reports about the stock. Evercore ISI boosted their price objective on shares of Voya Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 13th. UBS Group boosted their price objective on shares of Voya Financial from $87.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Voya Financial from $80.00 to $83.00 and gave the company an “outperform” rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. boosted their price objective on shares of Voya Financial from $80.00 to $89.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Voya Financial from $76.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Voya Financial currently has a consensus rating of “Hold” and an average target price of $83.50.

Voya Financial Stock Down 0.1%

Shares of NYSE:VOYA opened at $73.93 on Monday. Voya Financial has a one year low of $52.43 and a one year high of $84.30. The company has a 50 day moving average of $70.76 and a 200-day moving average of $67.72. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 0.60 and a beta of 0.99.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, August 5th. The asset manager reported $2.40 EPS for the quarter, topping the consensus estimate of $2.09 by $0.31. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Voya Financial had a net margin of 6.73% and a return on equity of 13.72%. Voya Financial’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.18 EPS. On average, sell-side analysts forecast that Voya Financial will post 8.39 earnings per share for the current year.

Voya Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, August 26th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, August 26th. Voya Financial’s dividend payout ratio is 36.00%.

Insider Buying and Selling at Voya Financial

In other news, Director Yvette S. Butler sold 1,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $66.18, for a total value of $112,506.00. Following the completion of the transaction, the director owned 355 shares in the company, valued at $23,493.90. This represents a 82.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.37% of the stock is owned by company insiders.

Institutional Trading of Voya Financial

Institutional investors have recently made changes to their positions in the business. IFP Advisors Inc raised its position in Voya Financial by 225.6% during the second quarter. IFP Advisors Inc now owns 433 shares of the asset manager’s stock worth $31,000 after acquiring an additional 300 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Voya Financial by 149.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 481 shares of the asset manager’s stock worth $34,000 after acquiring an additional 288 shares in the last quarter. Quarry LP bought a new stake in Voya Financial during the fourth quarter worth $37,000. EverSource Wealth Advisors LLC raised its position in Voya Financial by 625.0% during the second quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager’s stock worth $39,000 after acquiring an additional 475 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Voya Financial during the first quarter worth $47,000. 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.