Morgan Stanley Trims Voya Financial (NYSE:VOYA) Target Price to $63.00

Voya Financial (NYSE:VOYA) had its price target trimmed by Morgan Stanley from $64.00 to $63.00 in a research note released on Tuesday, AnalystRatings.com reports. The brokerage currently has an overweight rating on the asset manager’s stock.

Several other brokerages also recently issued reports on VOYA. Royal Bank of Canada set a $60.00 target price on shares of Voya Financial and gave the company a buy rating in a research note on Wednesday, August 7th. ValuEngine downgraded shares of Voya Financial from a hold rating to a sell rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $59.00.

NYSE VOYA opened at $50.65 on Tuesday. The stock has a market capitalization of $7.05 billion, a P/E ratio of 12.54, a P/E/G ratio of 0.44 and a beta of 1.46. Voya Financial has a 1 year low of $36.66 and a 1 year high of $57.57. The business’s fifty day moving average is $54.03 and its two-hundred day moving average is $52.58. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.17 and a current ratio of 0.17.

Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, August 6th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.05. Voya Financial had a net margin of 6.16% and a return on equity of 8.47%. The company had revenue of $278.00 million for the quarter, compared to the consensus estimate of $314.19 million. During the same period in the previous year, the business earned $1.13 EPS. On average, research analysts forecast that Voya Financial will post 5.56 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, August 29th will be paid a dividend of $0.15 per share. This is an increase from Voya Financial’s previous quarterly dividend of $0.01. This represents a $0.60 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, August 28th. Voya Financial’s payout ratio is 0.99%.

In related news, Director Byron H. Pollitt, Jr. purchased 1,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were acquired at an average cost of $51.26 per share, with a total value of $51,260.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patricia J. Walsh sold 1,870 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $53.69, for a total transaction of $100,400.30. Following the completion of the transaction, the insider now directly owns 27,488 shares in the company, valued at $1,475,830.72. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 2,500 shares of company stock worth $125,555. Company insiders own 1.69% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of VOYA. One Wealth Advisors LLC bought a new stake in Voya Financial in the second quarter worth $254,000. Prudential PLC boosted its holdings in Voya Financial by 5.5% in the second quarter. Prudential PLC now owns 198,527 shares of the asset manager’s stock worth $10,919,000 after purchasing an additional 10,338 shares in the last quarter. Point72 Europe London LLP boosted its holdings in Voya Financial by 23.1% in the second quarter. Point72 Europe London LLP now owns 196,500 shares of the asset manager’s stock worth $10,866,000 after purchasing an additional 36,900 shares in the last quarter. Royal Bank of Canada boosted its holdings in Voya Financial by 118.2% in the second quarter. Royal Bank of Canada now owns 908,588 shares of the asset manager’s stock worth $50,247,000 after purchasing an additional 492,255 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in Voya Financial by 8.0% in the second quarter. Verition Fund Management LLC now owns 9,901 shares of the asset manager’s stock worth $548,000 after purchasing an additional 730 shares in the last quarter.

Voya Financial Company Profile

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.

Read More: Why is the ex-dividend date different from the record date?

Analyst Recommendations for Voya Financial (NYSE:VOYA)

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