Royal Bank of Canada Issues Pessimistic Forecast for Voya Financial (NYSE:VOYA) Stock Price

Voya Financial (NYSE:VOYA) had its target price cut by Royal Bank of Canada from $95.00 to $90.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

Several other analysts have also recently issued reports on VOYA. Piper Sandler increased their target price on Voya Financial from $88.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Bank of America reaffirmed a “neutral” rating and set a $83.00 price objective (down previously from $91.00) on shares of Voya Financial in a research report on Wednesday. JPMorgan Chase & Co. downgraded shares of Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 target price for the company. in a report on Thursday, October 3rd. Evercore ISI lowered their price target on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company decreased their target price on shares of Voya Financial from $92.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Voya Financial currently has a consensus rating of “Moderate Buy” and an average target price of $85.67.

Voya Financial Trading Down 1.2 %

Shares of VOYA opened at $71.31 on Wednesday. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 0.56 and a beta of 1.02. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.31 and a quick ratio of 0.31. Voya Financial has a 1-year low of $63.11 and a 1-year high of $84.30. The company has a 50-day moving average of $80.77 and a 200 day moving average of $75.10.

Voya Financial (NYSE:VOYA) last issued its earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.07. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.86 billion. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. Voya Financial’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 EPS. On average, research analysts expect that Voya Financial will post 8.4 EPS for the current year.

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Tuesday, November 26th. Voya Financial’s dividend payout ratio (DPR) is presently 28.66%.

Insider Buying and Selling

In other Voya Financial news, insider Tony D. Oh sold 715 shares of Voya Financial stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total transaction of $58,594.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in VOYA. FMR LLC boosted its holdings in Voya Financial by 25.9% in the third quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock valued at $228,474,000 after purchasing an additional 592,523 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Voya Financial by 1.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager’s stock valued at $212,152,000 after buying an additional 38,438 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Voya Financial by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock worth $146,234,000 after buying an additional 248,795 shares during the last quarter. AQR Capital Management LLC grew its holdings in Voya Financial by 29.6% during the second quarter. AQR Capital Management LLC now owns 651,803 shares of the asset manager’s stock worth $46,376,000 after acquiring an additional 148,810 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in Voya Financial by 7.2% during the second quarter. Thrivent Financial for Lutherans now owns 562,355 shares of the asset manager’s stock valued at $40,011,000 after acquiring an additional 37,760 shares in the last quarter. 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.