Voya Financial (NYSE:VOYA) Given New $86.00 Price Target at Morgan Stanley

Voya Financial (NYSE:VOYA) had its target price lowered by Morgan Stanley from $93.00 to $86.00 in a report issued on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the asset manager’s stock.

Other research analysts have also issued reports about the company. Royal Bank Of Canada boosted their target price on Voya Financial from $85.00 to $87.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. UBS Group set a $90.00 price objective on shares of Voya Financial in a research report on Wednesday, February 4th. Wells Fargo & Company decreased their price objective on shares of Voya Financial from $86.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. Wall Street Zen cut shares of Voya Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Voya Financial from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.89.

Voya Financial Stock Down 0.7%

Voya Financial stock opened at $67.61 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.27 and a quick ratio of 0.27. The company’s 50-day moving average is $74.80 and its 200-day moving average is $74.09. The firm has a market capitalization of $6.27 billion, a PE ratio of 10.75, a P/E/G ratio of 0.46 and a beta of 0.90. Voya Financial has a fifty-two week low of $52.43 and a fifty-two week high of $79.99.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, February 3rd. The asset manager reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.17). The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. Voya Financial had a return on equity of 13.96% and a net margin of 7.99%.The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.40 EPS. Sell-side analysts anticipate 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, March 27th. Investors of record on Wednesday, February 25th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $1.88 dividend on an annualized basis and a yield of 2.8%. Voya Financial’s dividend payout ratio is currently 29.89%.

Hedge Funds Weigh In On Voya Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of Voya Financial by 3.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,662,301 shares of the asset manager’s stock worth $199,140,000 after acquiring an additional 88,151 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Voya Financial by 10.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 230,930 shares of the asset manager’s stock worth $16,396,000 after purchasing an additional 21,186 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Voya Financial by 148.5% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 151,883 shares of the asset manager’s stock worth $11,361,000 after purchasing an additional 90,764 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of Voya Financial during the third quarter valued at approximately $1,310,000. Finally, Davis Capital Management bought a new position in shares of Voya Financial during the third quarter valued at approximately $1,484,000. 96.10% of the stock is owned by institutional investors and hedge funds.

Voya Financial Company Profile

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.