Voya Financial (NYSE:VOYA) Given New $86.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Voya Financial's price target was raised by Keefe, Bruyette & Woods from $83.00 to $86.00, indicating a potential upside of 16.06% based on the current stock price.
• The company reported earnings of $2.40 per share for the last quarter, surpassing estimates and showing a revenue of $1.98 billion, though down 2.6% year-over-year.
• Institutional investors heavily favor Voya Financial, owning 96.10% of the company's stock, highlighting strong overall market confidence in the asset manager.

Voya Financial (NYSE:VOYA - Get Free Report) had its price target increased by stock analysts at Keefe, Bruyette & Woods from $83.00 to $86.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the asset manager's stock. Keefe, Bruyette & Woods' price objective would indicate a potential upside of 16.06% from the stock's current price.

Several other equities analysts have also recently commented on VOYA. Wells Fargo & Company boosted their target price on Voya Financial from $82.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Wednesday. UBS Group increased their target price on Voya Financial from $87.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Royal Bank Of Canada increased their target price on shares of Voya Financial from $80.00 to $87.00 and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Barclays raised their price target on Voya Financial from $81.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Voya Financial in a research report on Wednesday. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $85.00.

Voya Financial Stock Down 0.3%

Shares of Voya Financial stock traded down $0.24 on Thursday, hitting $74.10. The company had a trading volume of 191,977 shares, compared to its average volume of 900,716. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 0.55 and a beta of 0.98. The stock has a 50 day moving average of $74.56 and a 200-day moving average of $69.04. Voya Financial has a 1 year low of $52.43 and a 1 year high of $84.30.

Voya Financial (NYSE:VOYA - Get Free Report) last posted its earnings results on Tuesday, August 5th. The asset manager reported $2.40 earnings per share for the quarter, topping the consensus estimate 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 net margin of 6.73% and a return on equity of 13.72%. The company's revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the company earned $2.18 earnings per share. As a group, sell-side analysts forecast that Voya Financial will post 8.39 earnings per share for the current year.

Hedge Funds Weigh In On Voya Financial

Several institutional investors have recently added to or reduced their stakes in VOYA. IFP Advisors Inc grew its holdings in shares of Voya Financial by 225.6% in the second quarter. IFP Advisors Inc now owns 433 shares of the asset manager's stock valued at $31,000 after purchasing an additional 300 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Voya Financial by 149.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 481 shares of the asset manager's stock worth $34,000 after acquiring an additional 288 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Voya Financial by 625.0% in the second quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager's stock worth $39,000 after acquiring an additional 475 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Voya Financial in the 1st quarter worth approximately $47,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Voya Financial by 44.0% in 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 period. Hedge funds and other institutional investors own 96.10% of the company's stock.

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.

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