Voya Financial (NYSE:VOYA) Downgraded by Raymond James

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

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company lowered their target price on shares of Voya Financial from $91.00 to $87.00 and set an overweight rating for the company in a research note on Monday, August 12th. Citigroup lifted their price target on shares of Voya Financial from $86.00 to $91.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. decreased their price target on shares of Voya Financial from $88.00 to $87.00 and set an overweight rating for the company in a research note on Wednesday, July 31st. Evercore ISI lifted their price target on shares of Voya Financial from $79.00 to $82.00 and gave the company an outperform rating in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group lifted their price target on shares of Voya Financial from $78.00 to $80.00 and gave the company a hold rating in a research note on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $83.64.

Voya Financial Stock Performance

Shares of Voya Financial stock opened at $75.10 on Friday. Voya Financial has a fifty-two week low of $63.02 and a fifty-two week high of $76.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $7.38 billion, a P/E ratio of 10.67, a P/E/G ratio of 0.56 and a beta of 1.03. The company’s 50 day moving average price is $70.00 and its two-hundred day moving average price is $71.01.

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

Voya Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, August 27th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This is a boost from Voya Financial’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.40%. Voya Financial’s payout ratio is 25.57%.

Institutional Trading of Voya Financial

Several hedge funds have recently added to or reduced their stakes in VOYA. TFO Wealth Partners LLC raised its position in shares of Voya Financial by 1,035,080.0% in 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 period. Crestline Management LP purchased a new position in Voya Financial in the 4th quarter worth approximately $1,554,000. Gillson Capital LP purchased a new stake in shares of Voya Financial in the 4th quarter valued at $11,142,000. FORA Capital LLC boosted its position in Voya Financial by 94.1% during the 1st quarter. FORA Capital LLC now owns 28,175 shares of the asset manager’s stock valued at $2,083,000 after buying an additional 13,662 shares during the period. Finally, Empowered Funds LLC raised its holdings 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 in the last quarter. Institutional investors own 96.10% of the company’s stock.

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.