Voya Financial (NYSE:VOYA) Hits New 1-Year Low After Analyst Downgrade

Voya Financial, Inc. (NYSE:VOYA) shares reached a new 52-week low on Thursday after UBS Group lowered their price target on the stock from $94.00 to $89.00. UBS Group currently has a buy rating on the stock. Voya Financial traded as low as $63.17 and last traded at $63.28, with a volume of 189385 shares changing hands. The stock had previously closed at $69.01.

A number of other analysts have also commented on the company. Morgan Stanley raised Voya Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $76.00 to $87.00 in a research report on Friday, February 28th. Barclays downgraded Voya Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Royal Bank of Canada lowered their price objective on shares of Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. 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 research note on Friday, March 28th. Finally, Evercore ISI cut their price objective on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $82.83.

Institutional Investors Weigh In On Voya Financial

Several large investors have recently made changes to their positions in VOYA. BNP Paribas Financial Markets grew its position in Voya Financial by 52.8% during the third quarter. BNP Paribas Financial Markets now owns 56,878 shares of the asset manager’s stock valued at $4,506,000 after buying an additional 19,654 shares during the period. Townsquare Capital LLC bought a new stake in Voya Financial in the third quarter worth about $251,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Voya Financial by 1.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,600 shares of the asset manager’s stock valued at $1,790,000 after acquiring an additional 405 shares during the last quarter. Holocene Advisors LP grew its position in shares of Voya Financial by 31.0% during the 3rd quarter. Holocene Advisors LP now owns 97,254 shares of the asset manager’s stock valued at $7,704,000 after acquiring an additional 22,995 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Voya Financial by 28.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 19,670 shares of the asset manager’s stock valued at $1,558,000 after acquiring an additional 4,347 shares during the period. 96.10% of the stock is owned by hedge funds and other institutional investors.

Voya Financial Stock Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.31 and a current ratio of 0.30. The company has a market cap of $6.07 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 0.48 and a beta of 1.03. The company’s 50 day moving average price is $70.37 and its 200-day moving average price is $74.31.

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

Voya Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, February 25th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Tuesday, February 25th. Voya Financial’s dividend payout ratio is currently 29.41%.

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.