Voya Financial (NYSE:VOYA) Given New $80.00 Price Target at Wells Fargo & Company

Voya Financial (NYSE:VOYA) had its target price trimmed by Wells Fargo & Company from $83.00 to $80.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

Other research analysts have also recently issued reports about the company. Evercore ISI upped their price objective on Voya Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Voya Financial in a research note on Wednesday, October 8th. Barclays upped their price target on Voya Financial from $81.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. UBS Group increased their price target on shares of Voya Financial from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Finally, Royal Bank Of Canada boosted their price objective on shares of Voya Financial from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.70.

Voya Financial Stock Down 0.6%

VOYA stock traded down $0.46 during midday trading on Friday, hitting $72.02. The company’s stock had a trading volume of 833,867 shares, compared to its average volume of 705,013. The firm has a 50-day simple moving average of $74.70 and a 200-day simple moving average of $70.97. The firm has a market capitalization of $6.94 billion, a P/E ratio of 12.37, a PEG ratio of 0.50 and a beta of 0.99. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. Voya Financial has a 52-week low of $52.43 and a 52-week high of $84.30.

Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, November 4th. The asset manager reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.23. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.97 billion. Voya Financial had a net margin of 7.55% and a return on equity of 13.89%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.12 earnings per share. As a group, equities analysts forecast that Voya Financial will post 8.39 EPS for the current year.

Voya Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Wednesday, November 26th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This is a positive change from Voya Financial’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.6%. Voya Financial’s dividend payout ratio is currently 30.93%.

Hedge Funds Weigh In On Voya Financial

Institutional investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC acquired a new stake in Voya Financial during the 3rd quarter worth approximately $26,000. IFP Advisors Inc raised its stake in shares of 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 purchasing an additional 300 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of 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 purchasing an additional 288 shares during the period. Rothschild Investment LLC lifted its holdings in shares of Voya Financial by 5,180.0% during the third quarter. Rothschild Investment LLC now owns 528 shares of the asset manager’s stock worth $39,000 after purchasing an additional 518 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Voya Financial by 625.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager’s stock valued at $39,000 after buying an additional 475 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.