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

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Voya Financial (NYSE:VOYA) had its price target cut by Morgan Stanley from $71.00 to $70.00 in a research note released on Tuesday, BenzingaRatingsTable reports. They currently have an overweight rating on the asset manager’s stock.

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

Shares of VOYA opened at $62.58 on Tuesday. The company’s fifty day moving average is $61.36 and its 200 day moving average is $56.36. Voya Financial has a fifty-two week low of $47.71 and a fifty-two week high of $63.37. The stock has a market capitalization of $8.41 billion, a PE ratio of -22.51, a P/E/G ratio of 0.72 and a beta of 1.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.16 and a current ratio of 0.16.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, February 28th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, February 27th. Voya Financial’s dividend payout ratio (DPR) is 14.22%.

A number of hedge funds have recently bought and sold shares of VOYA. Tocqueville Asset Management L.P. boosted its stake in shares of Voya Financial by 30.1% during the third quarter. Tocqueville Asset Management L.P. now owns 44,280 shares of the asset manager’s stock valued at $2,411,000 after purchasing an additional 10,257 shares during the period. Artemis Investment Management LLP boosted its stake in shares of Voya Financial by 8.5% during the fourth quarter. Artemis Investment Management LLP now owns 1,165,208 shares of the asset manager’s stock valued at $70,363,000 after purchasing an additional 91,509 shares during the period. Worldquant Millennium Advisors LLC boosted its stake in shares of Voya Financial by 7.8% during the third quarter. Worldquant Millennium Advisors LLC now owns 205,687 shares of the asset manager’s stock valued at $11,197,000 after purchasing an additional 14,805 shares during the period. Gateway Investment Advisers LLC boosted its stake in shares of Voya Financial by 71.4% during the fourth quarter. Gateway Investment Advisers LLC now owns 148,728 shares of the asset manager’s stock valued at $9,069,000 after purchasing an additional 61,972 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in shares of Voya Financial during the third quarter valued at $592,000.

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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