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

Voya Financial (NYSE:VOYA) had its price target lowered by Evercore ISI from $94.00 to $89.00 in a report published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the asset manager’s stock.

A number of other brokerages have also recently weighed in on VOYA. Wells Fargo & Company boosted their price objective on Voya Financial from $87.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. UBS Group upgraded shares of Voya Financial to a “strong-buy” rating in a research report on Monday, November 11th. Raymond James downgraded shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, September 13th. Morgan Stanley reduced their target price on shares of Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, Bank of America raised their price target on Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.67.

Voya Financial Stock Down 1.6 %

Shares of NYSE:VOYA opened at $70.17 on Tuesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54. The firm has a 50 day simple moving average of $80.61 and a 200-day simple moving average of $75.07. The company has a market capitalization of $6.75 billion, a PE ratio of 11.17, a P/E/G ratio of 0.50 and a beta of 1.02. Voya Financial has a twelve month low of $63.11 and a twelve month high of $84.30.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.07. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm posted $2.07 earnings per share. Voya Financial’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts predict that Voya Financial will post 8.4 EPS for the current fiscal year.

Voya Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $1.80 annualized dividend and a dividend yield of 2.57%. Voya Financial’s payout ratio is currently 28.66%.

Insider Activity at Voya Financial

In related news, insider Tony D. Oh sold 715 shares of Voya Financial stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at this link. 1.37% of the stock is currently owned by company insiders.

Institutional Trading of Voya Financial

Hedge funds have recently bought and sold shares of the company. CWM LLC increased its position in Voya Financial by 97.7% during the 2nd quarter. CWM LLC now owns 2,456 shares of the asset manager’s stock worth $175,000 after purchasing an additional 1,214 shares in the last quarter. SG Americas Securities LLC acquired a new position in Voya Financial during the 2nd quarter valued at about $196,000. M&G Plc grew its holdings in Voya Financial by 18.6% in the 2nd quarter. M&G Plc now owns 117,706 shares of the asset manager’s stock worth $8,357,000 after buying an additional 18,471 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Voya Financial by 15.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,496 shares of the asset manager’s stock worth $818,000 after purchasing an additional 1,533 shares in the last quarter. Finally, Portman Square Capital LLP grew its position in Voya Financial by 103.5% in the 2nd quarter. Portman Square Capital LLP now owns 3,503 shares of the asset manager’s stock valued at $249,000 after buying an additional 103,903 shares in the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.

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.