Keefe, Bruyette & Woods Cuts Voya Financial (NYSE:VOYA) Price Target to $90.00

Voya Financial (NYSE:VOYA) had its price target decreased by Keefe, Bruyette & Woods from $92.00 to $90.00 in a research note published on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the asset manager’s stock.

VOYA has been the topic of several other research reports. Evercore ISI decreased their price target on Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 10th. Royal Bank of Canada reduced their target price on Voya Financial from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. JPMorgan Chase & Co. reduced their target price on Voya Financial from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company reduced their price target on Voya Financial from $92.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 10th. Finally, Raymond James lowered Voya Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, September 13th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.73.

Voya Financial Stock Performance

Shares of VOYA stock opened at $66.39 on Friday. The stock’s 50-day moving average is $75.31 and its two-hundred day moving average is $74.31. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.54 and a beta of 1.05. Voya Financial has a 1 year low of $63.11 and a 1 year high of $84.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.31 and a current ratio of 0.31.

Voya Financial (NYSE:VOYA) last released its earnings results 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 return on equity of 15.09% and a net margin of 8.81%. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the firm posted $2.07 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts predict that Voya Financial will post 8.09 earnings per share for the current year.

Voya Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Tuesday, November 26th were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, November 26th. This represents a $1.80 annualized dividend and a dividend yield of 2.71%. Voya Financial’s payout ratio is 28.66%.

Insider Transactions at Voya Financial

In other Voya Financial news, insider Tony D. Oh sold 715 shares of the firm’s stock in a transaction dated 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 available at this link. Corporate insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Voya Financial

Large investors have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Voya Financial by 25.9% during the third quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock valued at $228,474,000 after acquiring an additional 592,523 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Voya Financial by 1.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager’s stock valued at $212,152,000 after acquiring an additional 38,438 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Voya Financial by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock valued at $146,234,000 after acquiring an additional 248,795 shares during the period. AQR Capital Management LLC increased its stake in shares of Voya Financial by 29.6% during the second quarter. AQR Capital Management LLC now owns 651,803 shares of the asset manager’s stock valued at $46,376,000 after acquiring an additional 148,810 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Voya Financial by 7.2% during the second quarter. Thrivent Financial for Lutherans now owns 562,355 shares of the asset manager’s stock valued at $40,011,000 after acquiring an additional 37,760 shares during the period. Institutional investors and hedge funds own 96.10% of the company’s stock.

Voya Financial Company Profile

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.