Royal Bank of Canada Lowers Voya Financial (NYSE:VOYA) Price Target to $85.00

Voya Financial (NYSE:VOYA) had its target price reduced by Royal Bank of Canada from $90.00 to $85.00 in a research note released on Monday morning,Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

Other analysts have also issued reports about the stock. Keefe, Bruyette & Woods cut their target price on shares of Voya Financial from $92.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Evercore ISI cut their target price on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a research report on Tuesday, December 10th. Bank of America reaffirmed a “neutral” rating and set a $83.00 price target (down previously from $91.00) on shares of Voya Financial in a report on Wednesday, December 11th. Piper Sandler lowered their price target on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Finally, Barclays lowered their price target on shares of Voya Financial from $85.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $82.18.

Voya Financial Stock Performance

Shares of VOYA stock opened at $72.23 on Monday. The company has a 50 day moving average price of $71.24 and a 200-day moving average price of $74.10. Voya Financial has a 52 week low of $63.11 and a 52 week high of $84.30. The firm has a market capitalization of $6.95 billion, a PE ratio of 11.50, a P/E/G ratio of 0.49 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.54.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Tuesday, February 4th. The asset manager reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.65). Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. As a group, equities research analysts expect that Voya Financial will post 7.11 earnings per share for the current year.

Voya Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, February 25th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Tuesday, February 25th. Voya Financial’s payout ratio is 28.66%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. SRS Capital Advisors Inc. increased its position in Voya Financial by 207.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 485 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 327 shares during the last quarter. US Bancorp DE lifted its stake in Voya Financial by 14.9% in the fourth quarter. US Bancorp DE now owns 4,199 shares of the asset manager’s stock worth $289,000 after acquiring an additional 544 shares during the period. GW&K Investment Management LLC lifted its stake in Voya Financial by 0.8% in the fourth quarter. GW&K Investment Management LLC now owns 1,012,964 shares of the asset manager’s stock worth $69,722,000 after acquiring an additional 8,024 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Voya Financial by 13.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,532 shares of the asset manager’s stock valued at $105,000 after buying an additional 184 shares during the last quarter. Finally, A&I Financial Services LLC purchased a new stake in shares of Voya Financial during the fourth quarter valued at about $391,000. 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.