Voya Financial (NYSE:VOYA) Price Target Lowered to $87.00 at UBS Group

Key Points

• UBS cut its price target on Voya to $87 from $90 but kept a "buy" rating, leaving a potential ~25% upside; the consensus target is $86.38 with six Buys and three Holds (Moderate Buy).
• Voya missed quarterly EPS at $1.94 versus $2.11 while revenue rose 5% to $2.01 billion, and the stock trades around $69.60 with a P/E of 11.07 and a $6.46 billion market cap.
• Institutional investors own about 96.10% of Voya's shares, and several major brokerages (Barclays, Wells Fargo, Evercore, Morgan Stanley) have recently trimmed their price targets.

Voya Financial (NYSE:VOYA - Get Free Report) had its price target decreased by UBS Group from $90.00 to $87.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the asset manager's stock. UBS Group's price target indicates a potential upside of 25.00% from the company's current price.

A number of other equities research analysts have also issued reports on the stock. Barclays dropped their target price on shares of Voya Financial from $92.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday. Wells Fargo & Company dropped their target price on shares of Voya Financial from $86.00 to $85.00 and set an "equal weight" rating for the company in a report on Wednesday, February 25th. Evercore dropped their target price on shares of Voya Financial from $90.00 to $88.00 and set an "outperform" rating for the company in a report on Wednesday, February 4th. Morgan Stanley dropped their target price on shares of Voya Financial from $93.00 to $86.00 and set an "overweight" rating for the company in a report on Tuesday, March 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a "moderate buy" rating and set a $82.00 target price on shares of Voya Financial in a report on Thursday, March 26th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Voya Financial has an average rating of "Moderate Buy" and a consensus price target of $86.38.

Voya Financial Price Performance

NYSE:VOYA traded down $0.01 during trading hours on Thursday, reaching $69.60. 1,169,158 shares of the company were exchanged, compared to its average volume of 1,025,590. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.41. The stock's 50-day moving average is $70.41 and its 200-day moving average is $72.64. The firm has a market cap of $6.46 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 0.45 and a beta of 0.86. Voya Financial has a twelve month low of $54.06 and a twelve month high of $79.99.

Voya Financial (NYSE:VOYA - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.99 billion. Voya Financial had a return on equity of 13.96% and a net margin of 7.99%.The business's revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.40 earnings per share. On average, sell-side analysts anticipate that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Voya Financial

Hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Voya Financial by 3.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,662,301 shares of the asset manager's stock valued at $199,140,000 after purchasing an additional 88,151 shares during the period. Hudson Bay Capital Management LP grew its holdings in shares of Voya Financial by 21.1% in the third quarter. Hudson Bay Capital Management LP now owns 151,462 shares of the asset manager's stock valued at $11,329,000 after purchasing an additional 26,346 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Voya Financial by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,431,802 shares of the asset manager's stock valued at $181,901,000 after purchasing an additional 43,513 shares during the period. Cadence Bank grew its holdings in shares of Voya Financial by 59.9% in the third quarter. Cadence Bank now owns 49,299 shares of the asset manager's stock valued at $3,688,000 after purchasing an additional 18,462 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Voya Financial by 148.5% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 151,883 shares of the asset manager's stock valued at $11,361,000 after purchasing an additional 90,764 shares during the period. Hedge funds and other institutional investors own 96.10% of the company's stock.

About Voya Financial

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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