Voya Financial (NYSE:VOYA) Price Target Lowered to $80.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company cut its price target on Voya Financial from $85 to $80 and kept an "equal weight" rating, with that target implying roughly a 14.44% upside from the prior close.
• Several other firms have also trimmed targets (e.g., Morgan Stanley, Barclays, UBS), yet MarketBeat shows a consensus of "Moderate Buy" with an average price target of $85.75 (six Buy, three Hold).
• Voya's latest quarter showed EPS of $1.94 (missing the $2.11 estimate) and revenue of $2.01B (slightly above expectations); the stock traded near $69.91 with a market cap of $6.48B and a 52-week range of $54.06–$79.99.

Voya Financial (NYSE:VOYA - Get Free Report) had its target price reduced by Wells Fargo & Company from $85.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the asset manager's stock. Wells Fargo & Company's price objective would indicate a potential upside of 14.44% from the stock's previous close.

VOYA has been the topic of several other research reports. Morgan Stanley dropped their price objective on shares of Voya Financial from $93.00 to $86.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 3rd. Weiss Ratings cut Voya Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday. Keefe, Bruyette & Woods reiterated a "moderate buy" rating and issued a $82.00 target price on shares of Voya Financial in a research note on Thursday, March 26th. Barclays cut their target price on Voya Financial from $92.00 to $87.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, UBS Group cut their target price on Voya Financial from $90.00 to $87.00 and set a "buy" rating on the stock in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $85.75.

Voya Financial Stock Performance

Shares of NYSE VOYA traded up $0.30 during trading on Friday, reaching $69.91. The stock had a trading volume of 161,286 shares, compared to its average volume of 1,016,672. Voya Financial has a one year low of $54.06 and a one year high of $79.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market cap of $6.48 billion, a PE ratio of 11.12, a P/E/G ratio of 0.47 and a beta of 0.86. The firm's 50 day moving average price is $70.28 and its two-hundred day moving average price is $72.62.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The asset manager reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.11 by ($0.17). The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.99 billion. Voya Financial had a net margin of 7.99% and a return on equity of 13.96%. Voya Financial's revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.40 earnings per share. On average, research analysts forecast that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Voya Financial

Several hedge funds and other institutional investors have recently made changes to their positions in VOYA. Royal Bank of Canada boosted its position in shares of Voya Financial by 21.7% during the first quarter. Royal Bank of Canada now owns 84,715 shares of the asset manager's stock worth $5,741,000 after buying an additional 15,091 shares during the period. Goldman Sachs Group Inc. grew its position in Voya Financial by 8.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 662,058 shares of the asset manager's stock valued at $44,861,000 after buying an additional 51,376 shares in the last quarter. Empowered Funds LLC grew its position in Voya Financial by 13.5% in the 1st quarter. Empowered Funds LLC now owns 37,836 shares of the asset manager's stock valued at $2,564,000 after buying an additional 4,490 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Voya Financial by 1.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,144 shares of the asset manager's stock valued at $25,081,000 after purchasing an additional 6,127 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Voya Financial by 44.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager's stock valued at $49,000 after purchasing an additional 223 shares during the period. 96.10% of the stock is currently owned by institutional investors and hedge funds.

Voya Financial Company Profile

Voya Financial, Inc NYSE: VOYA is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya's operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya's core business activities span three key segments: Retirement, Investment Management and Employee Benefits.

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