Morgan Stanley Forecasts Strong Price Appreciation for Voya Financial (NYSE:VOYA) Stock

Voya Financial (NYSE:VOYA - Get Free Report) had its price target lifted by stock analysts at Morgan Stanley from $88.00 to $89.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the asset manager's stock. Morgan Stanley's price objective indicates a potential upside of 22.20% from the company's current price.

Several other analysts have also recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Voya Financial from $80.00 to $89.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Bank of America reissued an "underperform" rating and set a $71.00 price target (down from $79.00) on shares of Voya Financial in a research note on Friday, March 28th. UBS Group dropped their price target on Voya Financial from $89.00 to $88.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Barclays increased their price target on Voya Financial from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Finally, Keefe, Bruyette & Woods increased their price target on Voya Financial from $80.00 to $83.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $83.83.

Voya Financial Stock Up 0.6%

NYSE:VOYA traded up $0.44 during trading hours on Monday, reaching $72.83. 53,519 shares of the company traded hands, compared to its average volume of 885,364. The business's 50-day moving average price is $68.25 and its two-hundred day moving average price is $67.31. The stock has a market capitalization of $7.01 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.67 and a beta of 1.00. Voya Financial has a 1 year low of $52.43 and a 1 year high of $84.30. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.58.

Voya Financial (NYSE:VOYA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The asset manager reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.56. Voya Financial had a return on equity of 14.05% and a net margin of 7.18%. The firm had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter in the previous year, the business earned $1.77 earnings per share. The company's revenue was down 4.0% on a year-over-year basis. Analysts predict that Voya Financial will post 8.39 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Voya Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its stake in shares of Voya Financial by 81.0% in the 4th quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager's stock worth $28,000 after acquiring an additional 183 shares during the last quarter. Quarry LP acquired a new stake in shares of Voya Financial during the 4th quarter worth about $37,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Voya Financial during the 1st quarter worth about $47,000. Geneos Wealth Management Inc. increased its position in shares of Voya Financial by 44.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager's stock worth $49,000 after purchasing an additional 223 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Voya Financial by 666.4% during the 1st quarter. Versant Capital Management Inc now owns 889 shares of the asset manager's stock worth $60,000 after purchasing an additional 773 shares during the last quarter. Institutional investors and hedge funds own 96.10% of the company's stock.

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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