Voya Financial (NYSE:VOYA) Reaches New 52-Week Low After Analyst Downgrade

Voya Financial, Inc. (NYSE:VOYA)’s share price hit a new 52-week low on Thursday after UBS Group lowered their price target on the stock from $94.00 to $89.00. UBS Group currently has a buy rating on the stock. Voya Financial traded as low as $63.17 and last traded at $63.28, with a volume of 189385 shares traded. The stock had previously closed at $69.01.

Other analysts have also issued reports about the company. Barclays lowered Voya Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. lowered their price objective on shares of Voya Financial from $81.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday. Piper Sandler cut their target price on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Morgan Stanley upgraded shares of Voya Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $76.00 to $87.00 in a report on Friday, February 28th. Finally, Bank of America reissued an “underperform” rating and set a $71.00 price objective (down previously from $79.00) on shares of Voya Financial in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Voya Financial currently has a consensus rating of “Hold” and a consensus target price of $82.83.

Institutional Investors Weigh In On Voya Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its holdings in Voya Financial by 52.8% in the third quarter. BNP Paribas Financial Markets now owns 56,878 shares of the asset manager’s stock valued at $4,506,000 after acquiring an additional 19,654 shares during the last quarter. Townsquare Capital LLC acquired a new position in shares of Voya Financial in the 3rd quarter worth approximately $251,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Voya Financial by 1.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,600 shares of the asset manager’s stock valued at $1,790,000 after purchasing an additional 405 shares during the last quarter. Holocene Advisors LP increased its position in shares of Voya Financial by 31.0% during the third quarter. Holocene Advisors LP now owns 97,254 shares of the asset manager’s stock worth $7,704,000 after buying an additional 22,995 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in Voya Financial by 28.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 19,670 shares of the asset manager’s stock worth $1,558,000 after buying an additional 4,347 shares during the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.

Voya Financial Price Performance

The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 0.59. The firm has a market cap of $6.07 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.48 and a beta of 1.03. The business’s 50 day moving average is $70.37 and its two-hundred day moving average is $74.31.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, February 4th. The asset manager reported $1.50 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. As a group, analysts anticipate that Voya Financial, Inc. will post 8.39 earnings per share for the current year.

Voya Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, February 25th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Tuesday, February 25th. Voya Financial’s payout ratio is 29.41%.

Voya Financial Company Profile

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.