Voya Financial's (VOYA) Overweight Rating Reiterated at Morgan Stanley

Voya Financial (NYSE:VOYA - Get Free Report)'s stock had its "overweight" rating reiterated by research analysts at Morgan Stanley in a research note issued on Tuesday, MarketBeat.com reports. They currently have a $88.00 target price on the asset manager's stock, up from their prior target price of $86.00. Morgan Stanley's price target points to a potential upside of 24.65% from the company's previous close.

Several other research analysts have also commented on VOYA. Wells Fargo & Company lifted their price objective on shares of Voya Financial from $69.00 to $76.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Barclays set a $70.00 price objective on Voya Financial in a research note on Wednesday, May 7th. Bank of America reaffirmed an "underperform" rating and set a $71.00 target price (down from $79.00) on shares of Voya Financial in a research report on Friday, March 28th. Keefe, Bruyette & Woods upped their target price on Voya Financial from $80.00 to $83.00 and gave the stock an "outperform" rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Voya Financial from $81.00 to $80.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $82.08.

Voya Financial Stock Performance

Shares of NYSE VOYA traded up $0.35 during trading on Tuesday, hitting $70.60. The company had a trading volume of 557,497 shares, compared to its average volume of 883,335. Voya Financial has a 12 month low of $52.43 and a 12 month high of $84.30. The firm has a market capitalization of $6.79 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 0.57 and a beta of 0.99. The stock has a 50 day simple moving average of $65.18 and a 200 day simple moving average of $67.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.28 and a current ratio of 0.28.

Voya Financial (NYSE:VOYA - Get Free Report) last posted its earnings results on Tuesday, May 6th. The asset manager reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.56. The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.94 billion. Voya Financial had a net margin of 7.18% and a return on equity of 14.05%. Voya Financial's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the firm posted $1.77 earnings per share. As a group, analysts anticipate that Voya Financial will post 8.39 earnings per share for the current year.

Insider Buying and Selling at Voya Financial

In related news, Director Yvette S. Butler sold 1,700 shares of Voya Financial stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $66.18, for a total value of $112,506.00. Following the sale, the director now directly owns 355 shares in the company, valued at approximately $23,493.90. The trade was a 82.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Voya Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Vident Advisory LLC purchased a new stake in Voya Financial in the fourth quarter valued at $250,000. Victory Capital Management Inc. raised its holdings in shares of Voya Financial by 3.6% in the 4th quarter. Victory Capital Management Inc. now owns 327,783 shares of the asset manager's stock valued at $22,561,000 after purchasing an additional 11,336 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Voya Financial by 15.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager's stock valued at $445,487,000 after buying an additional 876,399 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in Voya Financial during the fourth quarter worth approximately $67,214,000. Finally, Amundi lifted its position in shares of Voya Financial by 19.2% during the 4th quarter. Amundi now owns 237,070 shares of the asset manager's stock worth $16,206,000 after buying an additional 38,169 shares during the last quarter. 96.10% of the stock is owned by hedge funds and other 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.