Keefe, Bruyette & Woods Issues Pessimistic Forecast for Voya Financial (NYSE:VOYA) Stock Price

Voya Financial (NYSE:VOYA) had its price objective reduced by Keefe, Bruyette & Woods from $92.00 to $90.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

VOYA has been the subject of a number of other reports. Royal Bank of Canada dropped their price target on shares of Voya Financial from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Barclays dropped their price target on shares of Voya Financial from $85.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday, December 10th. Wells Fargo & Company dropped their price target on shares of Voya Financial from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, December 10th. Bank of America reissued a “neutral” rating and set a $83.00 price target (down from $91.00) on shares of Voya Financial in a research note on Wednesday, December 11th. Finally, Piper Sandler lowered 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. Five investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.73.

Voya Financial Price Performance

NYSE:VOYA opened at $66.39 on Friday. The firm has a market cap of $6.39 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 0.54 and a beta of 1.05. Voya Financial has a 12 month low of $63.11 and a 12 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. The company’s 50-day moving average price is $75.31 and its two-hundred day moving average price is $74.31.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.07. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.86 billion. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 earnings per share. On average, equities analysts anticipate that Voya Financial will post 8.09 EPS for the current fiscal year.

Voya Financial Announces Dividend

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

Insider Buying and Selling

In other Voya Financial news, insider Tony D. Oh sold 715 shares of the stock in a transaction on 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 Securities & Exchange Commission, which is available at this link. 1.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Voya Financial

Several large investors have recently modified their holdings of the stock. US Bancorp DE raised its position in shares of Voya Financial by 5.8% in the third quarter. US Bancorp DE now owns 3,655 shares of the asset manager’s stock valued at $290,000 after purchasing an additional 202 shares during the period. First Trust Direct Indexing L.P. increased its position in Voya Financial by 6.8% during the third quarter. First Trust Direct Indexing L.P. now owns 3,291 shares of the asset manager’s stock worth $261,000 after acquiring an additional 210 shares during the period. UMB Bank n.a. increased its position in Voya Financial by 118.9% during the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after acquiring an additional 239 shares during the period. State of Alaska Department of Revenue increased its position in Voya Financial by 2.2% during the third quarter. State of Alaska Department of Revenue now owns 11,426 shares of the asset manager’s stock worth $905,000 after acquiring an additional 245 shares during the period. Finally, Coldstream Capital Management Inc. increased its position in Voya Financial by 8.1% during the third quarter. Coldstream Capital Management Inc. now owns 3,591 shares of the asset manager’s stock worth $285,000 after acquiring an additional 270 shares during the period. 96.10% of the stock is owned by institutional investors.

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.