Voya Financial (NYSE:VOYA) Earns Buy (B-) Rating from Weiss Ratings

Key Points

• Voya Financial has received a strong "buy (B-)" rating from Weiss Ratings, indicating positive analyst sentiment towards the stock.
• Multiple analysts have raised their price targets for Voya Financial, with notable increases from Royal Bank of Canada and JPMorgan Chase, reflecting growing confidence in the company's performance.
• The stock recently traded at $73.45, with a market cap of $7.08 billion and an average analyst rating of "Moderate Buy".

Voya Financial (NYSE:VOYA - Get Free Report)'s stock had its "buy (b-)" rating reissued by research analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

A number of other equities analysts have also commented on the stock. Royal Bank Of Canada raised their price target on shares of Voya Financial from $80.00 to $87.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. JPMorgan Chase & Co. increased their target price on Voya Financial from $80.00 to $89.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. UBS Group upped their price target on shares of Voya Financial from $87.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Wells Fargo & Company upped their target price on Voya Financial from $82.00 to $83.00 and gave the company an "equal weight" rating in a report on Wednesday, October 8th. Finally, Morgan Stanley raised their target price on Voya Financial from $90.00 to $91.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 7th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $85.00.

Voya Financial Stock Up 0.5%

NYSE:VOYA traded up $0.38 during trading hours on Friday, reaching $73.45. 106,212 shares of the stock were exchanged, compared to its average volume of 885,979. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.28 and a quick ratio of 0.28. Voya Financial has a twelve month low of $52.43 and a twelve month high of $84.30. The stock has a market cap of $7.08 billion, a PE ratio of 14.69, a PEG ratio of 0.54 and a beta of 0.98. The firm has a 50 day moving average of $75.14 and a 200 day moving average of $69.64.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Trail Ridge Investment Advisors LLC raised its position in shares of Voya Financial by 2.0% in the third quarter. Trail Ridge Investment Advisors LLC now owns 8,317 shares of the asset manager's stock worth $622,000 after buying an additional 166 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Voya Financial by 4.2% during the second quarter. ProShare Advisors LLC now owns 4,269 shares of the asset manager's stock worth $303,000 after purchasing an additional 171 shares in the last quarter. Greenleaf Trust raised its stake in Voya Financial by 3.1% in the first quarter. Greenleaf Trust now owns 6,301 shares of the asset manager's stock valued at $427,000 after purchasing an additional 190 shares in the last quarter. State of Michigan Retirement System lifted its position in Voya Financial by 0.9% during the first quarter. State of Michigan Retirement System now owns 23,016 shares of the asset manager's stock valued at $1,560,000 after purchasing an additional 200 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its holdings in shares of Voya Financial by 4.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,520 shares of the asset manager's stock worth $338,000 after buying an additional 201 shares during the last quarter. 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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