Morgan Stanley Raises Voya Financial (NYSE:VOYA) Price Target to $66.00

Voya Financial (NYSE:VOYA) had its price objective upped by Morgan Stanley from $62.00 to $66.00 in a research note published on Wednesday morning, Stock Target Advisor reports. Morgan Stanley currently has an overweight rating on the asset manager’s stock.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada raised their target price on shares of Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the stock a sector perform rating in a report on Thursday, May 9th. Credit Suisse Group raised their target price on shares of Conagra Brands from $24.00 to $27.00 and gave the stock a neutral rating in a report on Tuesday, March 26th. Finally, TheStreet upgraded shares of Voya Financial from a c+ rating to a b- rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Voya Financial currently has a consensus rating of Buy and an average target price of $59.60.

Shares of NYSE:VOYA opened at $56.93 on Wednesday. The company has a market capitalization of $8.20 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.42 and a beta of 1.44. Voya Financial has a 1-year low of $36.66 and a 1-year high of $57.24. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. The business’s 50 day simple moving average is $54.34.

Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, May 7th. The asset manager reported $1.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.05). The business had revenue of $194.00 million for the quarter, compared to the consensus estimate of $272.72 million. Voya Financial had a return on equity of 8.45% and a net margin of 5.64%. During the same quarter in the previous year, the business posted $1.03 earnings per share. As a group, research analysts predict that Voya Financial will post 5.5 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, May 31st were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date of this dividend was Thursday, May 30th. Voya Financial’s payout ratio is 0.99%.

In other news, Director Byron H. Pollitt, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average price of $51.26 per share, with a total value of $51,260.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Patricia J. Walsh sold 1,870 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,475,830.72. The disclosure for this sale can be found here. Company insiders own 1.69% of the company’s stock.

A number of institutional investors have recently bought and sold shares of VOYA. Hexavest Inc. acquired a new position in Voya Financial in the 2nd quarter worth approximately $30,000. Capital Financial Planning LLC acquired a new position in Voya Financial in the 4th quarter worth approximately $50,000. Covington Capital Management acquired a new stake in shares of Voya Financial during the 4th quarter valued at $69,000. FNY Investment Advisers LLC acquired a new stake in shares of Voya Financial during the 1st quarter valued at $74,000. Finally, Kinneret Advisory LLC acquired a new stake in shares of Voya Financial during the 4th quarter valued at $85,000.

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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Analyst Recommendations for Voya Financial (NYSE:VOYA)

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