Voya Financial (NYSE:VOYA) Price Target Lowered to $70.00 at Bank of America

Voya Financial (NYSE:VOYA) had its price target trimmed by Bank of America from $72.00 to $70.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an underperform rating on the asset manager’s stock.

Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada upped their price target on Voya Financial from $85.00 to $87.00 and gave the company an “outperform” rating in a report on Monday, February 9th. UBS Group dropped their price target on Voya Financial from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Keefe, Bruyette & Woods dropped their price target on Voya Financial from $82.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, April 10th. Wall Street Zen cut Voya Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Barclays dropped their price target on Voya Financial from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.89.

Voya Financial Stock Up 0.2%

VOYA stock opened at $72.22 on Tuesday. The firm has a market cap of $6.67 billion, a PE ratio of 11.48, a P/E/G ratio of 0.49 and a beta of 0.86. Voya Financial has a 12 month low of $54.48 and a 12 month high of $79.99. 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 firm has a 50 day simple moving average of $69.97 and a 200 day simple moving average of $72.48.

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

Voya Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Wednesday, February 25th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Wednesday, February 25th. Voya Financial’s dividend payout ratio is 29.89%.

Institutional Investors Weigh In On Voya Financial

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position 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 acquiring an additional 977,870 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Voya Financial by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 4,492,908 shares of the asset manager’s stock valued at $334,677,000 after acquiring an additional 230,877 shares in the last quarter. Kelly Financial Group LLC lifted its position in shares of Voya Financial by 1.9% in the 3rd quarter. Kelly Financial Group LLC now owns 4,072,102 shares of the asset manager’s stock valued at $304,593,000 after acquiring an additional 77,418 shares in the last quarter. Boston Partners lifted its position in shares of Voya Financial by 1.8% in the 4th quarter. Boston Partners now owns 3,557,281 shares of the asset manager’s stock valued at $265,363,000 after acquiring an additional 61,962 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Voya Financial by 6.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,418,536 shares of the asset manager’s stock valued at $242,716,000 after acquiring an additional 219,130 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.