Morgan Stanley Cuts Voya Financial (NYSE:VOYA) Price Target to $70.00

Voya Financial (NYSE:VOYA) had its target price decreased by Morgan Stanley from $71.00 to $70.00 in a report issued on Tuesday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the asset manager’s stock.

VOYA has been the topic of a number of other research reports. SunTrust Banks raised their price target on shares of Voya Financial to $58.00 and gave the company a hold rating in a report on Friday, November 8th. TheStreet raised shares of Voya Financial from a c+ rating to a b rating in a report on Friday, November 29th. ValuEngine raised shares of Voya Financial from a strong sell rating to a sell rating in a report on Tuesday, December 3rd. Royal Bank of Canada raised their price target on shares of Voya Financial from $65.00 to $68.00 and gave the company a sell rating in a report on Friday, December 20th. They noted that the move was a valuation call. Finally, Credit Suisse Group reaffirmed an outperform rating and set a $77.00 price target (up previously from $72.00) on shares of Voya Financial in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Voya Financial currently has an average rating of Hold and a consensus target price of $65.67.

Shares of NYSE VOYA opened at $62.58 on Tuesday. The firm’s 50-day moving average price is $61.36 and its 200-day moving average price is $56.36. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.44. The company has a market cap of $8.41 billion, a PE ratio of -22.51, a PEG ratio of 0.72 and a beta of 1.51. Voya Financial has a 52-week low of $47.71 and a 52-week high of $63.37.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Monday, February 10th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The firm had revenue of $276.00 million for the quarter, compared to the consensus estimate of $268.00 million. Voya Financial had a negative net margin of 4.38% and a positive return on equity of 7.15%. During the same quarter last year, the firm posted $1.40 EPS. As a group, equities research analysts anticipate that Voya Financial will post 5.04 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, February 28th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Thursday, February 27th. Voya Financial’s payout ratio is 14.22%.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted its holdings in shares of Voya Financial by 13.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,786 shares of the asset manager’s stock worth $101,000 after buying an additional 206 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Voya Financial by 31.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 936 shares of the asset manager’s stock worth $57,000 after buying an additional 224 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Voya Financial by 5.0% in the fourth quarter. Raymond James Trust N.A. now owns 6,167 shares of the asset manager’s stock worth $376,000 after buying an additional 295 shares during the last quarter. World Asset Management Inc boosted its holdings in shares of Voya Financial by 4.7% in the third quarter. World Asset Management Inc now owns 7,017 shares of the asset manager’s stock worth $382,000 after buying an additional 317 shares during the last quarter. Finally, Advisory Services Network LLC boosted its holdings in shares of Voya Financial by 387.9% in the fourth quarter. Advisory Services Network LLC now owns 483 shares of the asset manager’s stock worth $30,000 after buying an additional 384 shares during the last quarter.

About Voya Financial

Voya Financial, Inc operates as a retirement, investment, and employee benefits company in the United States. It operates through four segments: Retirement, Investment Management, Employee Benefits, and Individual Life. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and financial services, as well as financial planning and advisory services.

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Analyst Recommendations for Voya Financial (NYSE:VOYA)

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