Wells Fargo & Company Has Lowered Expectations for Voya Financial (NYSE:VOYA) Stock Price

Voya Financial (NYSE:VOYA) had its price objective lowered by Wells Fargo & Company from $92.00 to $87.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the asset manager’s stock.

Several other equities research analysts have also recently issued reports on the stock. Evercore ISI cut their price objective on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a research report on Tuesday. UBS Group upgraded shares of Voya Financial to a “strong-buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. cut shares of Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price objective for the company. in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods lowered their target price on shares of Voya Financial from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Piper Sandler increased their target price on shares of Voya Financial from $88.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Voya Financial presently has a consensus rating of “Moderate Buy” and an average target price of $86.50.

Voya Financial Price Performance

Shares of NYSE VOYA opened at $72.22 on Tuesday. Voya Financial has a 52 week low of $63.11 and a 52 week high of $84.30. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 0.56 and a beta of 1.02. The firm has a 50-day simple moving average of $80.94 and a 200-day simple moving average of $75.13. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.54.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.07. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the business earned $2.07 earnings per share. Voya Financial’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts predict that Voya Financial will post 8.4 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, November 26th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Tuesday, November 26th. Voya Financial’s payout ratio is 28.66%.

Insider Activity

In related news, insider Tony D. Oh sold 715 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total value of $58,594.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.37% of the company’s stock.

Institutional Trading of Voya Financial

Several hedge funds have recently added to or reduced their stakes in the company. Retirement Systems of Alabama raised its holdings in Voya Financial by 8.2% in the third quarter. Retirement Systems of Alabama now owns 272,339 shares of the asset manager’s stock valued at $21,575,000 after acquiring an additional 20,750 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Voya Financial in the third quarter valued at approximately $209,000. Coldstream Capital Management Inc. raised its holdings in Voya Financial by 8.1% in the third quarter. Coldstream Capital Management Inc. now owns 3,591 shares of the asset manager’s stock valued at $285,000 after acquiring an additional 270 shares in the last quarter. Barclays PLC raised its holdings in Voya Financial by 48.2% in the third quarter. Barclays PLC now owns 48,890 shares of the asset manager’s stock valued at $3,872,000 after acquiring an additional 15,902 shares in the last quarter. Finally, LRI Investments LLC raised its holdings in Voya Financial by 780.5% in the third quarter. LRI Investments LLC now owns 1,039 shares of the asset manager’s stock valued at $85,000 after acquiring an additional 921 shares in the last quarter. Institutional investors and hedge funds 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.