Voya Financial (NYSE:VOYA) Price Target Cut to $85.00 by Analysts at Wells Fargo & Company

Voya Financial (NYSE:VOYA) had its target price trimmed by Wells Fargo & Company from $86.00 to $85.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

Several other research analysts also recently commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Voya Financial in a report on Monday, December 29th. UBS Group set a $90.00 target price on shares of Voya Financial in a report on Wednesday, February 4th. Barclays raised Voya Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $83.00 to $93.00 in a report on Thursday, January 8th. Royal Bank Of Canada lifted their price target on Voya Financial from $85.00 to $87.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Finally, Evercore decreased their price objective on Voya Financial from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 4th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $86.67.

Voya Financial Trading Up 0.2%

Shares of VOYA opened at $69.89 on Wednesday. Voya Financial has a fifty-two week low of $52.43 and a fifty-two week high of $79.99. The business has a 50-day moving average of $75.34 and a 200 day moving average of $74.23. The firm has a market cap of $6.48 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 0.47 and a beta of 0.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.27 and a current ratio of 0.27.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, February 3rd. The asset manager reported $1.94 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.17). The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Voya Financial had a net margin of 7.99% and a return on equity of 13.96%. Voya Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $1.40 earnings per share. As a group, research analysts forecast that Voya Financial will post 8.39 EPS for the current year.

Voya Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $1.88 annualized dividend and a yield of 2.7%. Voya Financial’s dividend payout ratio (DPR) is currently 29.89%.

Institutional Trading of Voya Financial

Several institutional investors and hedge funds have recently modified their holdings of VOYA. Root Financial Partners LLC bought a new stake in shares of Voya Financial during the 3rd quarter valued at about $26,000. Allworth Financial LP raised its stake in Voya Financial by 75.5% in the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 151 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in Voya Financial during the fourth quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new stake in Voya Financial during the fourth quarter valued at approximately $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Voya Financial by 149.2% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.

About Voya Financial

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.