Voya Financial (NYSE:VOYA) Price Target Lowered to $76.00 at Morgan Stanley

Voya Financial (NYSE:VOYA) had its target price reduced by Morgan Stanley from $78.00 to $76.00 in a research report released on Tuesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the asset manager’s stock.

Several other research analysts have also issued reports on the company. Evercore ISI dropped their target price on Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a research report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their price target on shares of Voya Financial from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Bank of America reissued a “neutral” rating and set a $83.00 price target (down previously from $91.00) on shares of Voya Financial in a research report on Wednesday, December 11th. UBS Group raised shares of Voya Financial to a “strong-buy” rating in a report on Monday, November 11th. Finally, Keefe, Bruyette & Woods reduced their price target on Voya Financial from $90.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $82.27.

Voya Financial Stock Up 1.2 %

Shares of VOYA opened at $74.29 on Tuesday. The business’s 50 day simple moving average is $70.07 and its 200-day simple moving average is $74.10. Voya Financial has a 1 year low of $64.10 and a 1 year high of $84.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.30 and a quick ratio of 0.31. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 0.46 and a beta of 1.05.

Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, February 4th. The asset manager reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.65). Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. As a group, equities analysts expect that Voya Financial will post 8.95 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Tuesday, February 25th. Voya Financial’s dividend payout ratio is presently 29.41%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board purchased a new position in shares of Voya Financial during the 4th quarter valued at approximately $1,707,000. Marshall Wace LLP purchased a new position in Voya Financial during the fourth quarter worth approximately $677,000. Bridgewater Associates LP grew its stake in Voya Financial by 83.9% in the 4th quarter. Bridgewater Associates LP now owns 155,084 shares of the asset manager’s stock valued at $10,674,000 after acquiring an additional 70,769 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in Voya Financial during the fourth quarter valued at $421,000. Finally, Belpointe Asset Management LLC increased its stake in shares of Voya Financial by 49.2% during the fourth quarter. Belpointe Asset Management LLC now owns 12,747 shares of the asset manager’s stock worth $903,000 after purchasing an additional 4,204 shares in the last quarter. 96.10% of the stock is currently owned by institutional investors and hedge funds.

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.