Morgan Stanley Cuts Voya Financial (NYSE:VOYA) Price Target to $76.00

Voya Financial (NYSE:VOYA) had its price objective trimmed by Morgan Stanley from $78.00 to $76.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the asset manager’s stock.

A number of other equities research analysts also recently commented on VOYA. Barclays downgraded Voya Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods decreased their price target on Voya Financial from $90.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada cut their price objective on Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. UBS Group upgraded shares of Voya Financial to a “strong-buy” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $76.00 price target (down previously from $87.00) on shares of Voya Financial in a research report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Voya Financial has a consensus rating of “Moderate Buy” and a consensus target price of $82.27.

Voya Financial Price Performance

Shares of Voya Financial stock opened at $73.97 on Tuesday. Voya Financial has a 52 week low of $64.10 and a 52 week high of $84.30. 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 stock has a market cap of $7.12 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 0.46 and a beta of 1.05. The company’s 50-day moving average price is $70.40 and its two-hundred day moving average price is $74.11.

Voya Financial (NYSE:VOYA) last released 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 return on equity of 14.10% and a net margin of 8.29%. As a group, sell-side analysts anticipate that Voya Financial will post 8.95 EPS for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, February 25th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Tuesday, February 25th. Voya Financial’s payout ratio is presently 29.41%.

Hedge Funds Weigh In On Voya Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position 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. Impax Asset Management Group plc grew its stake in 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 last quarter. FMR LLC raised its holdings in Voya Financial by 25.9% in the 3rd quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock valued at $228,474,000 after acquiring an additional 592,523 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Voya Financial by 1.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager’s stock worth $212,152,000 after acquiring an additional 38,438 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its holdings in shares of Voya Financial by 0.8% during the fourth quarter. GW&K Investment Management LLC now owns 1,012,964 shares of the asset manager’s stock worth $69,722,000 after acquiring an additional 8,024 shares during the period. 96.10% of the stock is owned by institutional investors.

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.