Keefe, Bruyette & Woods Cuts Voya Financial (NYSE:VOYA) Price Target to $92.00

Voya Financial (NYSE:VOYA) had its price objective lowered by Keefe, Bruyette & Woods from $95.00 to $92.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the asset manager’s stock.

Several other brokerages have also issued reports on VOYA. Bank of America raised their target price on shares of Voya Financial from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays reduced their price objective on shares of Voya Financial from $85.00 to $81.00 and set an “overweight” rating on the stock in a research note on Tuesday. Piper Sandler lifted their target price on shares of Voya Financial from $88.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Wells Fargo & Company increased their price target on Voya Financial from $87.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Evercore ISI decreased their price objective on Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.67.

Voya Financial Stock Performance

VOYA stock opened at $70.17 on Tuesday. The stock has a market capitalization of $6.75 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 0.50 and a beta of 1.02. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.31 and a quick ratio of 0.31. The company has a 50 day moving average price of $80.61 and a 200 day moving average price of $75.07. Voya Financial has a fifty-two week low of $63.11 and a fifty-two week high of $84.30.

Voya Financial (NYSE:VOYA) last released its earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.07. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.86 billion. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.07 earnings per share. Analysts forecast that Voya Financial will post 8.4 EPS for the current year.

Voya Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Tuesday, November 26th. Voya Financial’s dividend payout ratio is currently 28.66%.

Insider Activity at Voya Financial

In related news, insider Tony D. Oh sold 715 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total transaction of $58,594.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Voya Financial

A number of large investors have recently added to or reduced their stakes in VOYA. FMR LLC grew its stake in shares of Voya Financial by 25.9% during the 3rd quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock worth $228,474,000 after acquiring an additional 592,523 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Voya Financial by 1.5% in 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 purchasing an additional 38,438 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Voya Financial by 13.8% in 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 purchasing an additional 248,795 shares in the last quarter. AQR Capital Management LLC increased its stake in Voya Financial by 29.6% in the 2nd quarter. AQR Capital Management LLC now owns 651,803 shares of the asset manager’s stock valued at $46,376,000 after buying an additional 148,810 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Voya Financial by 7.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 562,355 shares of the asset manager’s stock worth $40,011,000 after buying an additional 37,760 shares in the last quarter. Institutional investors 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.