Voya Financial (NYSE:VOYA) Downgraded to “Market Perform” at Raymond James

Raymond James downgraded shares of Voya Financial (NYSE:VOYA) from a strong-buy rating to a market perform rating in a research note published on Friday, MarketBeat Ratings reports.

VOYA has been the topic of a number of other research reports. Jefferies Financial Group increased their target price on Voya Financial from $78.00 to $80.00 and gave the company a hold rating in a research note on Thursday, July 18th. Barclays began coverage on Voya Financial in a research note on Wednesday, September 4th. They set an overweight rating and a $84.00 price objective on the stock. Wells Fargo & Company reduced their price objective on Voya Financial from $91.00 to $87.00 and set an overweight rating on the stock in a research note on Monday, August 12th. Citigroup raised their price objective on Voya Financial from $86.00 to $91.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Finally, Evercore ISI raised their price objective on Voya Financial from $79.00 to $82.00 and gave the company an outperform rating in a research note on Wednesday, September 11th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $83.64.

Voya Financial Trading Up 1.8 %

Shares of VOYA stock opened at $76.48 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.30. Voya Financial has a 52-week low of $63.02 and a 52-week high of $76.75. The company has a market capitalization of $7.70 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 0.56 and a beta of 1.03. The business’s fifty day moving average is $70.00 and its 200 day moving average is $71.01.

Voya Financial (NYSE:VOYA) last released its earnings results on Tuesday, July 30th. The asset manager reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.13. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Voya Financial had a return on equity of 16.11% and a net margin of 10.87%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.31 earnings per share. On average, equities research analysts anticipate that Voya Financial will post 8.42 EPS for the current fiscal year.

Voya Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, August 27th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This is a positive change from Voya Financial’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.35%. Voya Financial’s dividend payout ratio (DPR) is 25.57%.

Hedge Funds Weigh In On Voya Financial

Large investors have recently made changes to their positions in the business. TFO Wealth Partners LLC lifted its holdings in shares of Voya Financial by 1,035,080.0% during the fourth quarter. TFO Wealth Partners LLC now owns 51,759 shares of the asset manager’s stock valued at $3,776,000 after purchasing an additional 51,754 shares during the last quarter. Crestline Management LP bought a new stake in shares of Voya Financial during the fourth quarter valued at approximately $1,554,000. Gillson Capital LP bought a new stake in Voya Financial in the 4th quarter worth approximately $11,142,000. FORA Capital LLC grew its position in Voya Financial by 94.1% in the 1st quarter. FORA Capital LLC now owns 28,175 shares of the asset manager’s stock worth $2,083,000 after purchasing an additional 13,662 shares during the period. Finally, Empowered Funds LLC grew its position in Voya Financial by 149.4% in the 1st quarter. Empowered Funds LLC now owns 25,399 shares of the asset manager’s stock worth $1,877,000 after purchasing an additional 15,216 shares during the period. 96.10% of the stock is currently 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.