Wells Fargo & Company Cuts Voya Financial (NYSE:VOYA) Price Target to $69.00

Voya Financial (NYSE:VOYA) had its price objective cut by Wells Fargo & Company from $79.00 to $69.00 in a report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

A number of other equities research analysts have also weighed in on VOYA. JPMorgan Chase & Co. dropped their price objective on shares of Voya Financial from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Bank of America reissued an “underperform” rating and issued a $71.00 price objective (down from $79.00) on shares of Voya Financial in a report on Friday, March 28th. UBS Group decreased their target price on Voya Financial from $94.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley upgraded shares of Voya Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $76.00 to $87.00 in a report on Friday, February 28th. Finally, Piper Sandler decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $80.92.

Voya Financial Trading Up 0.9 %

Shares of NYSE:VOYA opened at $56.50 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $5.40 billion, a PE ratio of 9.23, a P/E/G ratio of 0.48 and a beta of 0.93. Voya Financial has a 12-month low of $52.43 and a 12-month high of $84.30. The business’s fifty day simple moving average is $68.02 and its 200-day simple moving average is $73.08.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, February 4th. The asset manager reported $1.50 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. As a group, equities research analysts predict that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Tuesday, February 25th. Voya Financial’s payout ratio is 29.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in shares of Voya Financial by 15.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager’s stock valued at $445,487,000 after purchasing an additional 876,399 shares during the period. FMR LLC boosted its holdings in Voya Financial by 10.5% in the 4th quarter. FMR LLC now owns 3,185,726 shares of the asset manager’s stock valued at $219,274,000 after purchasing an additional 301,682 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of Voya Financial by 277.8% in the 4th quarter. Impax Asset Management Group plc now owns 2,898,785 shares of the asset manager’s stock valued at $199,062,000 after buying an additional 2,131,578 shares during the period. Geode Capital Management LLC increased its holdings in shares of Voya Financial by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,685,642 shares of the asset manager’s stock worth $116,058,000 after buying an additional 23,818 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Voya Financial by 52.9% during the 4th quarter. First Trust Advisors LP now owns 1,437,597 shares of the asset manager’s stock valued at $98,950,000 after buying an additional 497,348 shares during the period. 96.10% of the stock is currently owned by institutional investors and hedge funds.

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.