Voya Financial (NYSE:VOYA) Given New $91.00 Price Target at Morgan Stanley

Voya Financial (NYSE:VOYA) had its price objective increased by Morgan Stanley from $90.00 to $91.00 in a research note issued to investors on Tuesday morning, MarketBeat reports. The brokerage currently has an overweight rating on the asset manager’s stock.

VOYA has been the subject of several other reports. UBS Group boosted their price target on Voya Financial from $87.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Barclays boosted their price target on Voya Financial from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, July 7th. JPMorgan Chase & Co. boosted their price target on Voya Financial from $80.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Wells Fargo & Company boosted their price target on Voya Financial from $76.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Voya Financial in a research report on Saturday, September 27th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.80.

Voya Financial Trading Down 0.6%

Shares of VOYA stock opened at $75.00 on Tuesday. 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 company has a market cap of $7.23 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 0.56 and a beta of 0.98. The stock has a 50 day simple moving average of $74.46 and a 200-day simple moving average of $69.01. Voya Financial has a 1-year low of $52.43 and a 1-year high of $84.30.

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. Voya Financial had a return on equity of 13.72% and a net margin of 6.73%.The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the business earned $2.18 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities research analysts expect that Voya Financial will post 8.39 EPS for the current fiscal year.

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Tuesday, August 26th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. Voya Financial’s payout ratio is 36.00%.

Hedge Funds Weigh In On Voya Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its stake 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 buying an additional 300 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake 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 buying an additional 288 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake 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 buying an additional 475 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Voya Financial in the 1st quarter valued at $47,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Voya Financial by 44.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock valued at $49,000 after purchasing an additional 223 shares during the last quarter. Institutional investors and hedge funds 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.