Voya Financial (NYSE:VOYA) Price Target Raised to $90.00 at Morgan Stanley

Voya Financial (NYSE:VOYA) had its target price lifted by Morgan Stanley from $89.00 to $90.00 in a research report report published on Monday morning, MarketBeat Ratings reports. Morgan Stanley currently has an overweight rating on the asset manager’s stock.

A number of other equities research analysts also recently issued reports on VOYA. JPMorgan Chase & Co. increased their price target on shares of Voya Financial from $80.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Evercore ISI increased their price target on shares of Voya Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, August 13th. Keefe, Bruyette & Woods increased their price target on shares of Voya Financial from $80.00 to $83.00 and gave the stock an “outperform” rating in a report on Tuesday, May 13th. UBS Group increased their price target on shares of Voya Financial from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company increased their price target on shares of Voya Financial from $76.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $83.70.

Voya Financial Price Performance

Shares of NYSE:VOYA opened at $74.9720 on Monday. Voya Financial has a twelve month low of $52.43 and a twelve month high of $84.30. The firm has a market capitalization of $7.23 billion, a PE ratio of 14.99, a P/E/G ratio of 0.60 and a beta of 0.99. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $71.05 and a two-hundred day moving average price of $67.82.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Tuesday, August 5th. The asset manager reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.31. Voya Financial had a net margin of 6.73% and a return on equity of 13.72%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm posted $2.18 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. Equities analysts forecast that Voya Financial will post 8.39 EPS for the current year.

Voya Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, August 26th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 26th. Voya Financial’s dividend payout ratio (DPR) is currently 36.00%.

Insiders Place Their Bets

In related news, Director Yvette S. Butler sold 1,700 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $66.18, for a total value of $112,506.00. Following the sale, the director directly owned 355 shares of the company’s stock, valued at $23,493.90. This trade represents a 82.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.99% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in VOYA. 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 acquiring an additional 300 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake 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 acquiring an additional 288 shares in the last quarter. Quarry LP purchased a new position in shares of Voya Financial during the fourth quarter worth approximately $37,000. EverSource Wealth Advisors LLC raised its stake in shares of Voya Financial by 625.0% during the second quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager’s stock worth $39,000 after acquiring an additional 475 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Voya Financial during the first quarter worth approximately $47,000. 96.10% of the stock is owned by hedge funds and other institutional investors.

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.