Wells Fargo & Company Trims Voya Financial (NYSE:VOYA) Target Price to $87.00

Voya Financial (NYSE:VOYA) had its price objective decreased by Wells Fargo & Company from $91.00 to $87.00 in a research note issued to investors on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the asset manager’s stock.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed an outperform rating and set a $83.00 price target on shares of Voya Financial in a research report on Wednesday, August 7th. Bank of America increased their price target on Voya Financial from $80.00 to $83.00 and gave the company a buy rating in a research note on Thursday, July 11th. Citigroup upped their price objective on shares of Voya Financial from $86.00 to $91.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Jefferies Financial Group lifted their target price on shares of Voya Financial from $78.00 to $80.00 and gave the stock a hold rating in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Voya Financial from $88.00 to $87.00 and set an overweight rating for the company in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Voya Financial has an average rating of Moderate Buy and an average price target of $83.50.

Voya Financial Trading Up 1.2 %

Shares of NYSE VOYA opened at $67.01 on Monday. Voya Financial has a 1-year low of $63.02 and a 1-year high of $76.75. The business has a fifty day moving average price of $71.01 and a 200 day moving average price of $70.95. The stock has a market capitalization of $6.75 billion, a P/E ratio of 9.52, a price-to-earnings-growth ratio of 0.46 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.30 and a quick ratio of 0.30.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Tuesday, July 30th. The asset manager reported $2.27 EPS for the quarter, beating the consensus estimate of $2.14 by $0.13. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.87 billion. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 earnings per share. Equities research analysts expect that Voya Financial will post 8.48 EPS for the current fiscal year.

Voya Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, August 27th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Tuesday, August 27th. This is a boost from Voya Financial’s previous quarterly dividend of $0.40. Voya Financial’s dividend payout ratio (DPR) is 25.57%.

Insider Buying and Selling at Voya Financial

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

Institutional Investors Weigh In On Voya Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Voya Financial by 1,020.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,368,185 shares of the asset manager’s stock worth $175,057,000 after buying an additional 2,156,773 shares in the last quarter. Boston Partners boosted its stake in shares of Voya Financial by 83.8% during the 1st quarter. Boston Partners now owns 2,525,604 shares of the asset manager’s stock worth $186,310,000 after acquiring an additional 1,151,822 shares in the last quarter. Norges Bank acquired a new stake in shares of Voya Financial during the 4th quarter valued at about $80,749,000. Vanguard Group Inc. increased its stake in shares of Voya Financial by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 11,067,291 shares of the asset manager’s stock valued at $818,094,000 after purchasing an additional 644,216 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Voya Financial by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock worth $146,234,000 after purchasing an additional 248,795 shares during the period. 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.