Voya Financial (NYSE:VOYA) Downgraded by Barclays to “Hold”

Barclays lowered shares of Voya Financial (NYSE:VOYA) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on VOYA. Bank of America reissued a “neutral” rating and issued a $83.00 price objective (down from $91.00) on shares of Voya Financial in a research note on Wednesday, December 11th. Wells Fargo & Company reissued an “equal weight” rating and issued a $76.00 price objective (down from $87.00) on shares of Voya Financial in a research note on Tuesday, January 14th. Evercore ISI cut their target price on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a research note on Tuesday, December 10th. Piper Sandler cut their target price on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. cut their target price 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. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.18.

Voya Financial Stock Down 1.9 %

Shares of Voya Financial stock opened at $70.82 on Thursday. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 0.49 and a beta of 1.05. The company’s 50 day moving average is $71.00 and its 200 day moving average is $74.08. Voya Financial has a twelve month low of $63.11 and a twelve month high of $84.30. 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 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 net margin of 8.81% and a return on equity of 15.09%. Research analysts anticipate that Voya Financial will post 7.11 EPS for the current year.

Voya Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, February 25th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, February 25th. Voya Financial’s payout ratio is currently 28.66%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wealthspire Advisors LLC boosted its stake in Voya Financial by 5.3% in the 4th quarter. Wealthspire Advisors LLC now owns 2,967 shares of the asset manager’s stock worth $204,000 after purchasing an additional 148 shares in the last quarter. Brooklyn Investment Group boosted its stake in Voya Financial by 17.0% in the 4th quarter. Brooklyn Investment Group now owns 1,166 shares of the asset manager’s stock worth $80,000 after purchasing an additional 169 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Voya Financial by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 3,307 shares of the asset manager’s stock worth $228,000 after purchasing an additional 177 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Voya Financial by 81.0% in the 4th quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager’s stock worth $28,000 after purchasing an additional 183 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Voya Financial by 13.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,532 shares of the asset manager’s stock worth $105,000 after purchasing an additional 184 shares in the last quarter. Hedge funds and other 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.