Voya Financial (NYSE:VOYA) Given New $88.00 Price Target at Morgan Stanley

Voya Financial (NYSE:VOYA - Get Free Report) had its price target lifted by investment analysts at Morgan Stanley from $86.00 to $88.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the asset manager's stock. Morgan Stanley's price target would indicate a potential upside of 26.36% from the stock's previous close.

Several other brokerages have also weighed in on VOYA. UBS Group decreased their price objective on shares of Voya Financial from $89.00 to $88.00 and set a "buy" rating for the company in a report on Friday, May 23rd. JPMorgan Chase & Co. dropped their target price on Voya Financial from $81.00 to $80.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Bank of America reiterated an "underperform" rating and set a $71.00 price objective (down from $79.00) on shares of Voya Financial in a research report on Friday, March 28th. Barclays set a $70.00 price target on shares of Voya Financial in a research report on Wednesday, May 7th. Finally, Keefe, Bruyette & Woods lifted their price target on Voya Financial from $80.00 to $83.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. One 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 stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $82.08.

Voya Financial Price Performance

Shares of Voya Financial stock opened at $69.64 on Tuesday. The business's fifty day moving average price is $64.45 and its 200 day moving average price is $67.09. Voya Financial has a twelve month low of $52.43 and a twelve month 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. The stock has a market capitalization of $6.70 billion, a P/E ratio of 13.15, a PEG ratio of 0.56 and a beta of 0.99.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.56. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $1.77 earnings per share. As a group, research analysts anticipate that Voya Financial will post 8.39 earnings per share for the current year.

Insider Activity at Voya Financial

In related news, Director Yvette S. Butler sold 1,700 shares of Voya Financial stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $66.18, for a total value of $112,506.00. Following the completion of the sale, the director now owns 355 shares of the company's stock, valued at approximately $23,493.90. The trade was a 82.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.37% of the stock is currently owned by company insiders.

Institutional Trading of Voya Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its stake in Voya Financial by 81.0% in the 4th quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager's stock valued at $28,000 after buying an additional 183 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in Voya Financial by 207.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 485 shares of the asset manager's stock valued at $33,000 after acquiring an additional 327 shares during the period. Quarry LP bought a new stake in Voya Financial during the fourth quarter valued at about $37,000. Venturi Wealth Management LLC grew its position in shares of Voya Financial by 45.0% in the fourth quarter. Venturi Wealth Management LLC now owns 648 shares of the asset manager's stock valued at $45,000 after purchasing an additional 201 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Voya Financial in the first quarter valued at about $47,000. 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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