Evercore ISI Issues Positive Forecast for Voya Financial (NYSE:VOYA) Stock Price

Key Points

• Evercore ISI increased its target price for Voya Financial (NYSE: VOYA) from $84.00 to $86.00, indicating a potential upside of 17.99% from the previous close.
• Voya Financial reported $2.40 EPS for its latest quarter, surpassing estimates of $2.09, despite a 2.6% year-over-year revenue decline.
• Multiple brokerages, including Wells Fargo and Morgan Stanley, have recently revised their ratings and price targets for Voya Financial, signaling mixed investor sentiment with an overall average rating of "Hold."

Voya Financial (NYSE:VOYA - Get Free Report) had its target price increased by analysts at Evercore ISI from $84.00 to $86.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the asset manager's stock. Evercore ISI's target price would indicate a potential upside of 17.99% from the company's previous close.

A number of other brokerages have also commented on VOYA. Wells Fargo & Company raised their price objective on shares of Voya Financial from $76.00 to $82.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Morgan Stanley set a $89.00 price target on Voya Financial and gave the company an "overweight" rating in a report on Monday, July 14th. UBS Group upped their price objective on Voya Financial from $87.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Keefe, Bruyette & Woods lifted their target price on Voya Financial from $80.00 to $83.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Finally, Barclays raised their price target on shares of Voya Financial from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $83.40.

Voya Financial Stock Performance

Shares of Voya Financial stock opened at $72.89 on Wednesday. The stock's fifty day simple moving average is $70.13 and its 200 day simple moving average is $67.66. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $7.03 billion, a PE ratio of 14.58, a PEG ratio of 0.65 and a beta of 0.99. Voya Financial has a 12 month low of $52.43 and a 12 month high of $84.30.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The asset manager reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.31. Voya Financial had a return on equity of 13.72% and a net margin of 6.73%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the firm earned $2.18 EPS. Voya Financial's quarterly revenue was down 2.6% compared to the same quarter last year. On average, research analysts predict that Voya Financial will post 8.39 EPS for the current year.

Insider Transactions at Voya Financial

In other Voya Financial news, Director Yvette S. Butler sold 1,700 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $66.18, for a total value of $112,506.00. Following the transaction, the director directly owned 355 shares of the company's stock, valued at $23,493.90. This represents a 82.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Voya Financial

A number of hedge funds have recently bought and sold shares of VOYA. Elo Mutual Pension Insurance Co boosted its holdings in Voya Financial by 28.9% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 17,481 shares of the asset manager's stock valued at $1,241,000 after purchasing an additional 3,915 shares during the period. XTX Topco Ltd boosted its stake in shares of Voya Financial by 152.3% in the second quarter. XTX Topco Ltd now owns 34,288 shares of the asset manager's stock valued at $2,434,000 after buying an additional 20,699 shares during the period. Prudential Financial Inc. boosted its stake in shares of Voya Financial by 67.4% in the second quarter. Prudential Financial Inc. now owns 38,089 shares of the asset manager's stock valued at $2,704,000 after buying an additional 15,332 shares during the period. AXQ Capital LP grew its position in Voya Financial by 66.2% during the second quarter. AXQ Capital LP now owns 13,327 shares of the asset manager's stock worth $946,000 after buying an additional 5,310 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in Voya Financial during the 2nd quarter worth $1,710,000. 96.10% of the stock is owned by institutional investors.

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.

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