Evercore ISI Cuts Voya Financial (NYSE:VOYA) Price Target to $89.00

Voya Financial (NYSE:VOYA) had its price objective cut by Evercore ISI from $94.00 to $89.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

A number of other brokerages have also weighed in on VOYA. Barclays decreased their price objective on Voya Financial from $85.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday. Wells Fargo & Company boosted their price target on shares of Voya Financial from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Bank of America increased their price objective on shares of Voya Financial from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Morgan Stanley lowered their target price on Voya Financial from $76.00 to $75.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, Piper Sandler increased their price target on Voya Financial from $88.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.67.

Voya Financial Price Performance

Voya Financial stock opened at $70.17 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $6.75 billion, a P/E ratio of 11.17, a P/E/G ratio of 0.50 and a beta of 1.02. Voya Financial has a 1 year low of $63.11 and a 1 year high of $84.30. The company’s fifty day moving average price is $80.61 and its 200 day moving average price is $75.07.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.07. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company posted $2.07 EPS. Voya Financial’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Voya Financial will post 8.4 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Tuesday, November 26th. Voya Financial’s dividend payout ratio (DPR) is 28.66%.

Insider Activity at Voya Financial

In other news, insider Tony D. Oh sold 715 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total transaction of $58,594.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Arjuna Capital raised its position in Voya Financial by 0.8% in the 2nd quarter. Arjuna Capital now owns 19,685 shares of the asset manager’s stock valued at $1,401,000 after purchasing an additional 161 shares in the last quarter. US Bancorp DE raised its holdings in Voya Financial by 5.8% in the third quarter. US Bancorp DE now owns 3,655 shares of the asset manager’s stock valued at $290,000 after acquiring an additional 202 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in Voya Financial by 6.8% in the third quarter. First Trust Direct Indexing L.P. now owns 3,291 shares of the asset manager’s stock worth $261,000 after acquiring an additional 210 shares during the last quarter. UMB Bank n.a. lifted its stake in Voya Financial by 118.9% in the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after acquiring an additional 239 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in 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 worth $905,000 after acquiring an additional 245 shares in the last quarter. 96.10% of the stock is owned by institutional investors and hedge funds.

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.