Voya Financial’s (VOYA) Overweight Rating Reiterated at Morgan Stanley

Morgan Stanley restated their overweight rating on shares of Voya Financial (NYSE:VOYA) in a research note released on Tuesday morning, MarketBeat reports. They currently have a $88.00 price target on the asset manager’s stock, up from their previous price target of $86.00.

VOYA has been the subject of several other reports. Bank of America reissued an “underperform” rating and set a $71.00 price target (down from $79.00) on shares of Voya Financial in a report on Friday, March 28th. JPMorgan Chase & Co. lowered their price objective on shares of Voya Financial from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Barclays set a $70.00 price objective on Voya Financial in a report on Wednesday, May 7th. Wells Fargo & Company upped their price target on shares of Voya Financial from $69.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Finally, UBS Group lowered their price objective on shares of Voya Financial from $89.00 to $88.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $82.08.

Voya Financial Stock Performance

NYSE:VOYA opened at $70.23 on Tuesday. The firm has a market capitalization of $6.76 billion, a PE ratio of 13.25, a PEG ratio of 0.57 and a beta of 0.99. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.58. Voya Financial has a 1 year low of $52.43 and a 1 year high of $84.30. The firm’s fifty day simple moving average is $65.18 and its 200 day simple moving average is $67.05.

Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, May 6th. The asset manager reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.56. Voya Financial had a net margin of 7.18% and a return on equity of 14.05%. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business earned $1.77 EPS. The firm’s revenue was down 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that Voya Financial will post 8.39 EPS for the current year.

Voya Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, May 27th were paid a dividend of $0.45 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.80 dividend on an annualized basis and a yield of 2.56%. Voya Financial’s payout ratio is 33.96%.

Insider Buying and Selling

In related news, Director Yvette S. Butler sold 1,700 shares of the business’s stock in a transaction 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 transaction, the director now owns 355 shares in the company, valued at $23,493.90. The trade was a 82.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.99% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Voya Financial

Several institutional investors and hedge funds have recently made changes to their positions in VOYA. Jones Financial Companies Lllp increased its position in Voya Financial by 81.0% in the 4th quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager’s stock valued at $28,000 after buying an additional 183 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in Voya Financial by 207.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 485 shares of the asset manager’s stock worth $33,000 after acquiring an additional 327 shares during the period. Quarry LP purchased a new stake in Voya Financial during the fourth quarter worth about $37,000. Venturi Wealth Management LLC increased its stake 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 worth $45,000 after purchasing an additional 201 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Voya Financial during the first quarter valued at $47,000. 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.