Wells Fargo & Company Issues Positive Forecast for Voya Financial (NYSE:VOYA) Stock Price

Key Points

• Wells Fargo raised its price target on Voya Financial to $106 from $102 but maintained an “equal weight” rating, implying about 2.23% upside from the share price cited in the report.
• Analyst sentiment overall is more positive: MarketBeat lists a “Moderate Buy” consensus and an average price target of $104.
• Voya reported quarterly EPS of $2.60, slightly above the $2.59 consensus, while revenue of $1.94 billion fell short of estimates and was down 4.8% year over year.

Voya Financial (NYSE:VOYA - Get Free Report) had its price objective raised by investment analysts at Wells Fargo & Company from $102.00 to $106.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an "equal weight" rating on the asset manager's stock. Wells Fargo & Company's target price suggests a potential upside of 2.23% from the company's current price.

Other equities analysts have also recently issued research reports about the company. Royal Bank Of Canada increased their target price on Voya Financial from $107.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. UBS Group boosted their price target on Voya Financial from $125.00 to $127.00 and gave the company a "buy" rating in a report on Tuesday, October 6th. Barclays upped their price objective on Voya Financial from $105.00 to $109.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 7th. Keefe, Bruyette & Woods cut Voya Financial from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $110.00 to $108.00 in a research report on Friday, October 9th. Finally, Atlantic Securities set a $79.00 price objective on Voya Financial in a report on Wednesday, July 15th. One investment 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's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $104.00.

Voya Financial Stock Down 0.6%

Voya Financial stock opened at $103.69 on Thursday. The stock has a market capitalization of $9.26 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.04 and a beta of 0.85. Voya Financial has a twelve month low of $64.50 and a twelve month high of $106.79. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $98.76 and a 200-day moving average of $87.25.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.01. Voya Financial had a net margin of 7.75% and a return on equity of 12.67%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm earned $2.45 earnings per share. The firm's revenue was down 4.8% compared to the same quarter last year. On average, equities research analysts anticipate that Voya Financial will post 9.16 EPS for the current fiscal year.

Insider Buying and Selling at Voya Financial

In related news, insider Trevor Ogle sold 2,093 shares of Voya Financial stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $95.81, for a total value of $200,530.33. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VOYA. TD Waterhouse Canada Inc. increased its position in shares of Voya Financial by 4.6% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 2,731 shares of the asset manager's stock worth $261,000 after purchasing an additional 120 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Voya Financial by 5.6% in the 3rd quarter. Signaturefd LLC now owns 2,351 shares of the asset manager's stock valued at $222,000 after buying an additional 124 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Voya Financial by 8.4% in the third quarter. Farther Finance Advisors LLC now owns 1,863 shares of the asset manager's stock valued at $176,000 after buying an additional 144 shares in the last quarter. Confluence Wealth Services Inc. grew its stake in shares of Voya Financial by 0.8% in the third quarter. Confluence Wealth Services Inc. now owns 19,067 shares of the asset manager's stock valued at $1,801,000 after buying an additional 154 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Voya Financial by 29.6% in the third 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 in the last quarter. 96.10% of the stock is owned by institutional investors and hedge funds.

About Voya Financial

Voya Financial, Inc. is a U.S.-based financial services company focused on workplace benefits, retirement plans and investment management. It serves employers, plan sponsors, institutions and individuals, primarily in the United States. The company provides workplace retirement savings plans and related services, along with employee benefits such as group life, disability and supplemental health coverage. Through its investment management business, Voya offers investment strategies and services to institutional and individual clients.

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