Voya Financial (NYSE:VOYA) Price Target Lowered to $90.00 at Royal Bank of Canada

Voya Financial (NYSE:VOYA) had its price objective cut by Royal Bank of Canada from $95.00 to $90.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

A number of other brokerages have also issued reports on VOYA. Raymond James lowered shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, September 13th. Barclays reduced their target price on Voya Financial from $85.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday. Evercore ISI dropped 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. Wells Fargo & Company reduced their price objective on Voya Financial from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Piper Sandler lifted their target price on Voya Financial from $88.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.67.

Voya Financial Trading Down 0.5 %

NYSE VOYA opened at $69.83 on Wednesday. The firm has a market cap of $6.72 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 0.51 and a beta of 1.02. Voya Financial has a 52 week low of $63.11 and a 52 week 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. The company has a 50 day moving average price of $80.41 and a 200 day moving average price of $75.04.

Voya Financial (NYSE:VOYA) last announced its earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.86 billion. During the same period in the prior year, the company posted $2.07 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Voya Financial will post 8.24 EPS for the current fiscal year.

Voya Financial Announces Dividend

The company 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 dividend of $0.45 per share. The ex-dividend date is Tuesday, November 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.58%. Voya Financial’s payout ratio is 28.66%.

Insider Activity

In other news, insider Tony D. Oh sold 715 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total transaction of $58,594.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Voya Financial

Hedge funds have recently bought and sold shares of the business. CWM LLC increased its position in shares of Voya Financial by 97.7% in the second quarter. CWM LLC now owns 2,456 shares of the asset manager’s stock valued at $175,000 after buying an additional 1,214 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Voya Financial in the 2nd quarter valued at $196,000. Wealth Enhancement Advisory Services LLC raised its position in Voya Financial by 15.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,496 shares of the asset manager’s stock worth $818,000 after acquiring an additional 1,533 shares during the period. Portman Square Capital LLP raised its position in Voya Financial by 103.5% during the second quarter. Portman Square Capital LLP now owns 3,503 shares of the asset manager’s stock worth $249,000 after acquiring an additional 103,903 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in Voya Financial by 68.6% during the second quarter. Fifth Third Wealth Advisors LLC now owns 6,518 shares of the asset manager’s stock valued at $464,000 after purchasing an additional 2,653 shares in the last quarter. Hedge funds and other institutional investors 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.