Voya Financial (NYSE:VOYA) Price Target Cut to $102.00 by Analysts at Wells Fargo & Company

Voya Financial (NYSE:VOYA) had its price objective trimmed by Wells Fargo & Company from $104.00 to $102.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the asset manager’s stock.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Voya Financial from $105.00 to $109.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. TD Cowen increased their target price on shares of Voya Financial from $112.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Evercore reissued an “outperform” rating and set a $111.00 target price on shares of Voya Financial in a report on Friday, August 7th. Weiss Ratings upgraded shares of Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 29th. Finally, Jefferies Financial Group lifted their price target on shares of Voya Financial from $80.00 to $85.00 and gave the company a “hold” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Voya Financial currently has a consensus rating of “Moderate Buy” and an average target price of $104.00.

Voya Financial Stock Up 0.2%

Shares of Voya Financial stock opened at $94.83 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.51. The firm has a market cap of $8.59 billion, a P/E ratio of 15.99, a P/E/G ratio of 0.92 and a beta of 0.90. Voya Financial has a fifty-two week low of $64.50 and a fifty-two week high of $105.64. The business has a 50-day moving average price of $99.69 and a 200 day moving average price of $90.11.

Voya Financial (NYSE:VOYA) last released its earnings results on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.47). Voya Financial had a return on equity of 12.31% and a net margin of 7.45%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the business earned $1.66 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts forecast that Voya Financial will post 9.19 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Wednesday, August 26th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Wednesday, August 26th. Voya Financial’s dividend payout ratio is presently 31.70%.

Institutional Investors Weigh In On Voya Financial

Several large investors have recently added to or reduced their stakes in the stock. Diversified Management Inc. bought a new stake in shares of Voya Financial during the third quarter valued at approximately $710,000. GAMMA Investing LLC boosted its position in shares of Voya Financial by 7.0% during the third quarter. GAMMA Investing LLC now owns 4,217 shares of the asset manager’s stock worth $398,000 after buying an additional 277 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Voya Financial by 8.4% during the third quarter. Farther Finance Advisors LLC now owns 1,863 shares of the asset manager’s stock worth $176,000 after buying an additional 144 shares during the period. Versant Capital Management Inc grew its holdings in Voya Financial by 29.6% in the 3rd quarter. Versant Capital Management Inc now owns 696 shares of the asset manager’s stock worth $66,000 after buying an additional 159 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in Voya Financial by 9.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,078 shares of the asset manager’s stock worth $641,000 after buying an additional 632 shares in the last quarter. 96.10% of the stock is owned by institutional investors and hedge funds.

About Voya Financial

Voya Financial, Inc is a financial services company that helps individuals, employers and institutions plan, invest and prepare for retirement. The company operates primarily in the United States and focuses on retirement plans, employee benefits and investment management.

Voya’s retirement business provides workplace retirement plans and related services, including plan administration, participant education and advice. Its employee benefits business offers products and services such as group life insurance, disability insurance, supplemental health benefits and health savings account solutions.

Through its investment management operations, Voya serves institutional and individual investors with investment strategies across public and private markets.