Voya Financial (NYSE:VOYA) Given New $87.00 Price Target at Barclays

Voya Financial (NYSE:VOYA) had its price objective decreased by Barclays from $92.00 to $87.00 in a research note released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the asset manager’s stock.

VOYA has been the subject of several other research reports. Wells Fargo & Company dropped their price objective on Voya Financial from $86.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. Royal Bank Of Canada increased their price objective on Voya Financial from $85.00 to $87.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Wall Street Zen cut Voya Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Morgan Stanley dropped their price objective on Voya Financial from $93.00 to $86.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Finally, UBS Group set a $90.00 price objective on Voya Financial in a report on Wednesday, February 4th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $86.75.

Voya Financial Price Performance

VOYA opened at $69.76 on Wednesday. The stock’s 50 day simple moving average is $70.41 and its 200 day simple moving average is $72.64. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.27 and a quick ratio of 0.27. Voya Financial has a 1 year low of $52.69 and a 1 year high of $79.99. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 0.45 and a beta of 0.86.

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

Voya Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Wednesday, February 25th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Wednesday, February 25th. Voya Financial’s dividend payout ratio (DPR) is presently 29.89%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VOYA. Verdad Advisers LP purchased a new position in shares of Voya Financial in the 4th quarter valued at approximately $148,980,000. Balyasny Asset Management L.P. lifted its stake in shares of Voya Financial by 119.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,085,387 shares of the asset manager’s stock valued at $148,062,000 after purchasing an additional 1,135,935 shares during the period. Norges Bank purchased a new position in shares of Voya Financial in the 4th quarter valued at approximately $83,106,000. Bank of New York Mellon Corp lifted its stake in shares of Voya Financial by 17.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,516,879 shares of the asset manager’s stock valued at $487,463,000 after purchasing an additional 977,870 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Voya Financial by 135.7% in the 3rd quarter. Millennium Management LLC now owns 1,084,747 shares of the asset manager’s stock valued at $81,139,000 after purchasing an additional 624,436 shares during the period. Hedge funds and other institutional investors own 96.10% of the company’s stock.

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.