Jefferies Financial Group Cuts Voya Financial (NYSE:VOYA) Price Target to $78.00

Voya Financial (NYSE:VOYA) had its price objective lowered by Jefferies Financial Group from $79.00 to $78.00 in a research note released on Wednesday, Benzinga reports. The firm currently has a hold rating on the asset manager’s stock.

Other analysts have also issued reports about the company. Evercore ISI lifted their price target on Voya Financial from $79.00 to $80.00 and gave the company an outperform rating in a research note on Thursday, April 11th. Wells Fargo & Company lifted their price target on Voya Financial from $91.00 to $92.00 and gave the company an overweight rating in a research note on Friday, May 10th. JPMorgan Chase & Co. lifted their price target on Voya Financial from $85.00 to $88.00 and gave the company an overweight rating in a research note on Tuesday, July 2nd. Finally, Piper Sandler lifted their price target on Voya Financial from $78.00 to $86.00 and gave the company an overweight rating in a research note on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $83.60.

Voya Financial Stock Down 0.8 %

VOYA stock opened at $71.87 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 0.51 and a beta of 1.05. The business’s fifty day moving average price is $73.04 and its two-hundred day moving average price is $71.33. Voya Financial has a fifty-two week low of $63.02 and a fifty-two week high of $77.00.

Voya Financial (NYSE:VOYA) last released its earnings results on Tuesday, April 30th. The asset manager reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.30. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.80 billion. Voya Financial had a return on equity of 16.74% and a net margin of 10.48%. Voya Financial’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.69 EPS. On average, equities analysts anticipate that Voya Financial will post 8.41 earnings per share for the current year.

Voya Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Tuesday, May 28th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. Voya Financial’s dividend payout ratio is currently 22.73%.

Insider Activity

In other Voya Financial news, Director Yvette S. Butler sold 2,165 shares of Voya Financial stock in a transaction on Friday, May 24th. The stock was sold at an average price of $73.78, for a total transaction of $159,733.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Chilton Capital Management LLC bought a new stake in shares of Voya Financial in the fourth quarter worth $26,000. SYSTM Wealth Solutions LLC grew its holdings in shares of Voya Financial by 56.2% in the first quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock worth $31,000 after acquiring an additional 149 shares during the period. FinTrust Capital Advisors LLC bought a new stake in shares of Voya Financial in the first quarter worth $43,000. Venturi Wealth Management LLC grew its holdings in shares of Voya Financial by 213.2% in the first quarter. Venturi Wealth Management LLC now owns 595 shares of the asset manager’s stock worth $44,000 after acquiring an additional 405 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of Voya Financial in the fourth quarter worth $49,000. 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.