Voya Financial (NYSE:VOYA) Price Target Lowered to $84.00 at Keefe, Bruyette & Woods

Voya Financial (NYSE:VOYA - Free Report) had its price target lowered by Keefe, Bruyette & Woods from $90.00 to $84.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the asset manager's stock.

Several other brokerages also recently weighed in on VOYA. UBS Group upgraded shares of Voya Financial to a "strong-buy" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. cut their price objective on shares of Voya Financial from $87.00 to $82.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Bank of America reaffirmed a "neutral" rating and issued a $83.00 price target (down from $91.00) on shares of Voya Financial in a research note on Wednesday, December 11th. Piper Sandler dropped their target price on Voya Financial from $91.00 to $84.00 and set an "overweight" rating on the stock in a report on Wednesday, December 18th. Finally, Evercore ISI decreased their price target on Voya Financial from $94.00 to $89.00 and set an "outperform" rating for the company in a research note on Tuesday, December 10th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.18.

Voya Financial Stock Performance

Shares of NYSE VOYA traded up $1.38 during midday trading on Wednesday, hitting $72.22. The company's stock had a trading volume of 1,335,155 shares, compared to its average volume of 914,950. The firm has a market cap of $6.95 billion, a P/E ratio of 11.80, a P/E/G ratio of 0.46 and a beta of 1.05. Voya Financial has a 1-year low of $64.10 and a 1-year high of $84.30. The firm's fifty day moving average price is $70.78 and its 200-day moving average price is $74.09. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.31 and a current ratio of 0.30.

Voya Financial (NYSE:VOYA - Get Free Report) last posted its earnings results on Tuesday, February 4th. The asset manager reported $1.50 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. On average, sell-side analysts forecast that Voya Financial will post 8.95 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, February 25th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Tuesday, February 25th. Voya Financial's dividend payout ratio is 29.41%.

Hedge Funds Weigh In On Voya Financial

A number of hedge funds and other institutional investors have recently modified their holdings of VOYA. Hennessy Advisors Inc. acquired a new position in shares of Voya Financial in the 4th quarter valued at about $47,155,000. KBC Group NV grew its position in Voya Financial by 260.5% during the fourth quarter. KBC Group NV now owns 9,384 shares of the asset manager's stock valued at $646,000 after purchasing an additional 6,781 shares in the last quarter. Barclays PLC increased its stake in Voya Financial by 48.2% in the 3rd quarter. Barclays PLC now owns 48,890 shares of the asset manager's stock valued at $3,872,000 after buying an additional 15,902 shares during the period. Miracle Mile Advisors LLC purchased a new stake in Voya Financial in the 4th quarter worth approximately $1,379,000. Finally, Retirement Systems of Alabama boosted its stake in shares of Voya Financial by 8.2% during the 3rd quarter. Retirement Systems of Alabama now owns 272,339 shares of the asset manager's stock valued at $21,575,000 after buying an additional 20,750 shares during the period. Institutional investors and hedge funds 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.