Wells Fargo & Company Increases Voya Financial (NYSE:VOYA) Price Target to $91.00

Voya Financial (NYSE:VOYA - Get Free Report) had its price target upped by analysts at Wells Fargo & Company from $85.00 to $91.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an "overweight" rating on the asset manager's stock. Wells Fargo & Company's price objective would suggest a potential upside of 32.25% from the stock's previous close.

Several other equities research analysts also recently weighed in on VOYA. StockNews.com raised shares of Voya Financial from a "sell" rating to a "hold" rating in a research report on Saturday, December 30th. Royal Bank of Canada dropped their target price on shares of Voya Financial from $85.00 to $83.00 and set an "outperform" rating for the company in a research report on Thursday, February 8th. Morgan Stanley dropped their target price on shares of Voya Financial from $79.00 to $78.00 and set an "overweight" rating for the company in a research report on Friday, March 1st. The Goldman Sachs Group reissued a "neutral" rating and issued a $82.00 target price on shares of Voya Financial in a research report on Monday, January 8th. Finally, Piper Sandler boosted their target price on shares of Voya Financial from $78.00 to $86.00 and gave the stock an "overweight" rating in a research report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $82.50.

Voya Financial Trading Down 1.7 %

Shares of VOYA traded down $1.19 during mid-day trading on Thursday, reaching $68.81. The company had a trading volume of 683,847 shares, compared to its average volume of 902,255. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 0.42 and a beta of 1.06. The firm has a fifty day simple moving average of $70.00 and a 200-day simple moving average of $70.12. Voya Financial has a fifty-two week low of $63.02 and a fifty-two week high of $77.78. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.55.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its earnings results on Tuesday, February 6th. The asset manager reported $1.97 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $0.02. Voya Financial had a net margin of 8.51% and a return on equity of 16.60%. The business had revenue of $236.00 million for the quarter, compared to the consensus estimate of $304.66 million. On average, sell-side analysts anticipate that Voya Financial will post 8.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Voya Financial by 7.8% in the third quarter. Vanguard Group Inc. now owns 10,465,556 shares of the asset manager's stock valued at $695,436,000 after acquiring an additional 752,851 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Voya Financial by 7.5% in the first quarter. Wellington Management Group LLP now owns 7,488,929 shares of the asset manager's stock valued at $496,890,000 after acquiring an additional 519,701 shares in the last quarter. State Street Corp boosted its holdings in shares of Voya Financial by 0.9% in the third quarter. State Street Corp now owns 3,291,225 shares of the asset manager's stock valued at $199,119,000 after acquiring an additional 29,593 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Voya Financial by 3.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,571,104 shares of the asset manager's stock valued at $153,058,000 after purchasing an additional 80,147 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Voya Financial by 7.9% during the fourth quarter. Morgan Stanley now owns 2,009,400 shares of the asset manager's stock valued at $123,558,000 after purchasing an additional 147,414 shares during the last quarter. 96.10% of the stock is owned by institutional investors and hedge funds.

About Voya Financial

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.