Keefe, Bruyette & Woods Lowers Voya Financial (NYSE:VOYA) Price Target to $81.00

Key Points

• Keefe, Bruyette & Woods cut Voya Financial's price target from $82 to $81 while maintaining an "outperform" rating, implying roughly a 15.8% upside from the current share price (~$69.92).
• Several other analysts also trimmed targets, leaving a consensus target of $85.63 and a ratings mix of six Buys and three Holds, giving Voya an average rating of "Moderate Buy".
• Voya recently missed quarterly EPS ($1.94 vs. $2.11 expected) despite a 5% revenue gain to $2.01B; the stock has a market cap of $6.49B and is heavily institutionally held (~96.1%) with several large recent inflows.

Voya Financial (NYSE:VOYA - Get Free Report) had its price target dropped by analysts at Keefe, Bruyette & Woods from $82.00 to $81.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the asset manager's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 15.84% from the stock's current price.

VOYA has been the topic of several other research reports. Barclays lowered their target price on shares of Voya Financial from $92.00 to $87.00 and set an "overweight" rating on the stock in a research note on Wednesday. Evercore lowered their target price on shares of Voya Financial from $90.00 to $88.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 4th. Wells Fargo & Company cut their price target on shares of Voya Financial from $85.00 to $80.00 and set an "equal weight" rating for the company in a report on Friday. Wall Street Zen lowered shares of Voya Financial from a "buy" rating to a "hold" rating in a research report on Saturday, January 10th. Finally, Weiss Ratings cut shares of Voya Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Voya Financial has an average rating of "Moderate Buy" and a consensus target price of $85.63.

Voya Financial Price Performance

Voya Financial stock traded up $0.31 during trading hours on Friday, hitting $69.92. 375,682 shares of the company traded hands, compared to its average volume of 1,020,458. The firm has a market cap of $6.49 billion, a P/E ratio of 11.10, a P/E/G ratio of 0.47 and a beta of 0.86. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.41. The firm's 50-day simple moving average is $70.28 and its two-hundred day simple moving average is $72.62. Voya Financial has a 1-year low of $54.06 and a 1-year high of $79.99.

Voya Financial (NYSE:VOYA - Get Free Report) last released its earnings results on Tuesday, February 3rd. The asset manager reported $1.94 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.17). The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.99 billion. Voya Financial had a net margin of 7.99% and a return on equity of 13.96%. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.40 EPS. As a group, analysts forecast that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VOYA. Verdad Advisers LP bought a new position in shares of Voya Financial in the fourth quarter valued at $148,980,000. Balyasny Asset Management L.P. lifted its stake in Voya Financial by 119.6% during the second quarter. Balyasny Asset Management L.P. now owns 2,085,387 shares of the asset manager's stock valued at $148,062,000 after buying an additional 1,135,935 shares in the last quarter. Norges Bank purchased a new stake in Voya Financial during the fourth quarter valued at about $83,106,000. Bank of New York Mellon Corp lifted its stake in Voya Financial by 17.7% during the third quarter. Bank of New York Mellon Corp now owns 6,516,879 shares of the asset manager's stock valued at $487,463,000 after buying an additional 977,870 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Voya Financial by 135.7% during the third quarter. Millennium Management LLC now owns 1,084,747 shares of the asset manager's stock valued at $81,139,000 after buying an additional 624,436 shares in the last quarter. Institutional investors own 96.10% of the company's stock.

About Voya Financial

Voya Financial, Inc NYSE: VOYA is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya's operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya's core business activities span three key segments: Retirement, Investment Management and Employee Benefits.

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