Voya Financial (NYSE:VOYA) Given New $69.00 Price Target at Wells Fargo & Company

Voya Financial (NYSE:VOYA) had its target price decreased by Wells Fargo & Company from $79.00 to $69.00 in a report published on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the asset manager’s stock.

VOYA has been the topic of several other reports. Royal Bank of Canada decreased their price target on shares of Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Piper Sandler decreased their target price on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Barclays lowered Voya Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price objective on Voya Financial from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group dropped their target price on Voya Financial from $94.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $81.67.

Voya Financial Price Performance

Shares of Voya Financial stock opened at $55.93 on Thursday. The stock has a market capitalization of $5.34 billion, a P/E ratio of 9.14, a PEG ratio of 0.48 and a beta of 0.93. The business has a 50 day simple moving average of $68.25 and a two-hundred day simple moving average of $73.24. Voya Financial has a 12 month low of $52.43 and a 12 month high of $84.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.30 and a quick ratio of 0.31.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, February 4th. The asset manager reported $1.50 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. As a group, analysts predict that Voya Financial will post 8.39 EPS for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Tuesday, February 25th. Voya Financial’s dividend payout ratio is presently 29.41%.

Institutional Trading of Voya Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its position in shares of Voya Financial by 81.0% during the fourth quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 183 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Voya Financial by 207.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 485 shares of the asset manager’s stock worth $33,000 after purchasing an additional 327 shares during the period. Quarry LP acquired a new stake in Voya Financial in the 4th quarter valued at approximately $37,000. R Squared Ltd purchased a new stake in Voya Financial in the fourth quarter valued at approximately $41,000. Finally, Venturi Wealth Management LLC raised its position in Voya Financial by 45.0% in the fourth quarter. Venturi Wealth Management LLC now owns 648 shares of the asset manager’s stock valued at $45,000 after purchasing an additional 201 shares during the period. 96.10% of the stock is currently owned by hedge funds and other 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.