Voya Financial (NYSE:VOYA) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Voya Financial (NYSE:VOYA) had its target price upped by Morgan Stanley from $70.00 to $86.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the asset manager’s stock.

Several other brokerages also recently weighed in on VOYA. Barclays set a $70.00 price target on shares of Voya Financial in a research report on Wednesday, May 7th. Wells Fargo & Company boosted their price target on Voya Financial from $69.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Keefe, Bruyette & Woods lifted their price objective on Voya Financial from $80.00 to $83.00 and gave the stock an “outperform” rating in a report on Tuesday, May 13th. Bank of America restated an “underperform” rating and set a $71.00 target price (down previously from $79.00) on shares of Voya Financial in a research note on Friday, March 28th. Finally, UBS Group dropped their price target on shares of Voya Financial from $94.00 to $89.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $82.00.

Voya Financial Trading Down 3.1%

NYSE:VOYA opened at $66.98 on Monday. The company has a 50-day moving average price of $63.02 and a 200-day moving average price of $69.64. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 0.48 and a beta of 0.95. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59. Voya Financial has a 12 month low of $52.43 and a 12 month high of $84.30.

Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, May 6th. The asset manager reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.56. Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the business posted $1.77 EPS. The company’s quarterly revenue was down 4.0% on a year-over-year basis. Equities analysts predict that Voya Financial will post 8.39 EPS for the current year.

Voya Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, May 27th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Tuesday, May 27th. Voya Financial’s payout ratio is 33.96%.

Institutional Investors Weigh In On Voya Financial

Hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp raised its holdings in Voya Financial by 81.0% in the 4th quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager’s stock worth $28,000 after purchasing an additional 183 shares during the period. SRS Capital Advisors Inc. increased its position in Voya Financial by 207.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 485 shares of the asset manager’s stock worth $33,000 after buying an additional 327 shares in the last quarter. Quarry LP bought a new position in shares of Voya Financial in the fourth quarter worth about $37,000. R Squared Ltd bought a new position in shares of Voya Financial in the fourth quarter worth about $41,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Voya Financial by 45.0% during the 4th quarter. Venturi Wealth Management LLC now owns 648 shares of the asset manager’s stock valued at $45,000 after buying an additional 201 shares in the last quarter. 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.