Voya Financial (NYSE:VOYA) Upgraded to “Overweight” at Morgan Stanley

Morgan Stanley upgraded shares of Voya Financial (NYSE:VOYA) from an equal weight rating to an overweight rating in a research report sent to investors on Friday morning, Marketbeat reports. They currently have $87.00 price objective on the asset manager’s stock, up from their prior price objective of $76.00.

VOYA has been the subject of a number of other reports. Wells Fargo & Company upped their price target on Voya Financial from $76.00 to $79.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. decreased their target price on Voya Financial from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Barclays lowered Voya Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Piper Sandler dropped their price target on Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada decreased their price target on Voya Financial from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.55.

Voya Financial Price Performance

NYSE VOYA opened at $72.32 on Friday. The company has a 50 day moving average price of $70.35 and a two-hundred day moving average price of $74.40. The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 0.59. Voya Financial has a 12-month low of $64.10 and a 12-month high of $84.30. The stock has a market capitalization of $6.91 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.48 and a beta of 1.05.

Voya Financial (NYSE:VOYA) last posted its earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share 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 analysts predict that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, February 25th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $1.80 dividend on an annualized basis and a yield of 2.49%. Voya Financial’s dividend payout ratio is currently 29.41%.

Hedge Funds Weigh In On Voya Financial

A number of institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in shares of Voya Financial by 15,513.4% during the 3rd quarter. International Assets Investment Management LLC now owns 20,922 shares of the asset manager’s stock valued at $1,657,000 after purchasing an additional 20,788 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Voya Financial by 10.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,646 shares of the asset manager’s stock valued at $1,002,000 after purchasing an additional 1,150 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Voya Financial by 2.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 11,426 shares of the asset manager’s stock valued at $905,000 after purchasing an additional 245 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Voya Financial by 6.8% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,291 shares of the asset manager’s stock valued at $261,000 after purchasing an additional 210 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Voya Financial by 5.8% during the 3rd 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 last quarter. 96.10% of the stock is currently 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.