Voya Financial (NYSE:VOYA) Stock Price Target Lowered at Wells Fargo & Company

Key Points

• Wells Fargo lowered Voya Financial’s price target from $104 to $102 while maintaining an “equal weight” rating, implying 7.67% potential upside from the prior close.
• Analyst sentiment remains broadly positive, with an overall “Moderate Buy” consensus and an average price target of $104; targets from other firms range from $79 to $109.
• Voya’s latest quarter fell short of expectations, reporting $1.51 EPS versus the $1.98 consensus and revenue of $1.88 billion, down 4.3% year over year.

Voya Financial (NYSE:VOYA - Get Free Report) had its target price cut by investment analysts at Wells Fargo & Company from $104.00 to $102.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the asset manager's stock. Wells Fargo & Company's price objective indicates a potential upside of 7.67% from the stock's previous close.

Several other analysts have also recently weighed in on the company. Jefferies Financial Group raised their price target on Voya Financial from $80.00 to $85.00 and gave the company a "hold" rating in a report on Friday, July 10th. JPMorgan Chase & Co. lifted their price target on Voya Financial from $105.00 to $109.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Barclays boosted their price objective on Voya Financial from $105.00 to $109.00 and gave the stock an "overweight" rating in a report on Wednesday, October 7th. Atlantic Securities set a $79.00 price objective on Voya Financial in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Voya Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $104.00.

Voya Financial Price Performance

Shares of Voya Financial stock traded up $0.06 during trading on Monday, hitting $94.73. The stock had a trading volume of 116,067 shares, compared to its average volume of 1,120,225. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 0.92 and a beta of 0.90. Voya Financial has a 12 month low of $64.50 and a 12 month high of $105.64. The business's 50-day moving average is $99.80 and its 200 day moving average is $89.92. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.98 by ($0.47). Voya Financial had a return on equity of 12.31% and a net margin of 7.45%. The business had revenue of $1.88 billion during the quarter, compared to analysts' expectations of $1.90 billion. During the same quarter last year, the business posted $1.66 EPS. The company's quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Voya Financial will post 9.19 earnings per share for the current year.

Institutional Trading of Voya Financial

A number of hedge funds have recently bought and sold shares of the company. Danske Bank A S purchased a new position in shares of Voya Financial in the second quarter worth $27,000. Root Financial Partners LLC raised its holdings in Voya Financial by 59.6% during the 1st quarter. Root Financial Partners LLC now owns 573 shares of the asset manager's stock valued at $39,000 after buying an additional 214 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Voya Financial during the 2nd quarter valued at $48,000. Versant Capital Management Inc boosted its position in Voya Financial by 29.6% during the 3rd quarter. Versant Capital Management Inc now owns 696 shares of the asset manager's stock valued at $66,000 after buying an additional 159 shares during the period. Finally, MV Capital Management Inc. purchased a new stake in Voya Financial during the 4th quarter valued at $74,000. Institutional investors own 96.10% of the company's stock.

About Voya Financial

Voya Financial, Inc is a financial services company that helps individuals, employers and institutions plan, invest and prepare for retirement. The company operates primarily in the United States and focuses on retirement plans, employee benefits and investment management.

Voya's retirement business provides workplace retirement plans and related services, including plan administration, participant education and advice. Its employee benefits business offers products and services such as group life insurance, disability insurance, supplemental health benefits and health savings account solutions.

Through its investment management operations, Voya serves institutional and individual investors with investment strategies across public and private markets.

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