Barclays Cuts Voya Financial (NYSE:VOYA) Price Target to $81.00

Voya Financial (NYSE:VOYA) had its target price cut by Barclays from $85.00 to $81.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the asset manager’s stock.

A number of other equities analysts have also commented on the company. JPMorgan Chase & Co. lowered Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price target for the company. in a report on Thursday, October 3rd. Bank of America lifted their target price on Voya Financial from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Morgan Stanley lowered their price target on shares of Voya Financial from $76.00 to $75.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Evercore ISI boosted their price objective on shares of Voya Financial from $79.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada raised their price target on shares of Voya Financial from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.67.

Voya Financial Trading Down 1.6 %

Shares of VOYA opened at $70.17 on Tuesday. Voya Financial has a fifty-two week low of $63.11 and a fifty-two week high of $84.30. The business has a 50-day moving average of $80.61 and a 200 day moving average of $75.07. The firm has a market cap of $6.75 billion, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 0.50 and a beta of 1.02. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.31 and a current ratio of 0.31.

Voya Financial (NYSE:VOYA) last posted its earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.07. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.86 billion. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $2.07 earnings per share. As a group, research analysts forecast that Voya Financial will post 8.4 EPS for the current year.

Voya Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, November 26th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Tuesday, November 26th. Voya Financial’s payout ratio is presently 28.66%.

Insider Buying and Selling at Voya Financial

In other news, insider Tony D. Oh sold 715 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total transaction of $58,594.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VOYA. V Square Quantitative Management LLC bought a new position in Voya Financial in the 3rd quarter worth $29,000. UMB Bank n.a. raised its stake in Voya Financial by 118.9% in the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after buying an additional 239 shares in the last quarter. Quarry LP purchased a new stake in Voya Financial in the second quarter worth about $61,000. Blue Trust Inc. boosted its position in Voya Financial by 3,640.9% during the 3rd quarter. Blue Trust Inc. now owns 823 shares of the asset manager’s stock valued at $65,000 after acquiring an additional 801 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Voya Financial during the 3rd quarter worth approximately $79,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Company Profile

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.