Voya Financial (NYSE:VOYA) Price Target Cut to $89.00 by Analysts at UBS Group

Voya Financial (NYSE:VOYA) had its price target trimmed by UBS Group from $94.00 to $89.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the asset manager’s stock.

A number of other brokerages have also weighed in on VOYA. Wells Fargo & Company lifted their target price on Voya Financial from $76.00 to $79.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Royal Bank of Canada lowered their price objective on shares of Voya Financial from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Morgan Stanley raised shares of Voya Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $76.00 to $87.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered their price target on shares of Voya Financial from $81.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday. 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 given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $82.83.

Voya Financial Stock Up 1.6 %

Shares of VOYA opened at $69.06 on Wednesday. The firm has a market capitalization of $6.60 billion, a P/E ratio of 11.28, a P/E/G ratio of 0.48 and a beta of 1.03. Voya Financial has a 12-month low of $64.10 and a 12-month high of $84.30. The firm has a fifty day moving average price of $70.37 and a 200-day moving average price of $74.31. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59.

Voya Financial (NYSE:VOYA) last issued 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%. Equities research analysts expect that Voya Financial will post 8.39 earnings per share for the current year.

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, February 25th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Tuesday, February 25th. Voya Financial’s payout ratio is currently 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 company. Voloridge Investment Management LLC acquired a new position in shares of Voya Financial in the fourth quarter valued at about $415,000. Worldquant Millennium Advisors LLC boosted its holdings in Voya Financial by 37.3% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 8,006 shares of the asset manager’s stock worth $551,000 after buying an additional 2,177 shares in the last quarter. Vident Advisory LLC acquired a new stake in Voya Financial during the fourth quarter valued at $250,000. Twinbeech Capital LP purchased a new position in Voya Financial in the fourth quarter valued at $14,800,000. Finally, Two Sigma Advisers LP raised its position in shares of Voya Financial by 25.1% in the fourth quarter. Two Sigma Advisers LP now owns 133,700 shares of the asset manager’s stock worth $9,203,000 after acquiring an additional 26,800 shares during the period. 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.