Voya Financial (NYSE:VOYA) Price Target Raised to $87.00

Key Points

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Voya Financial (NYSE:VOYA - Get Free Report) had its price target boosted by equities research analysts at Royal Bank Of Canada from $80.00 to $87.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the asset manager's stock. Royal Bank Of Canada's target price suggests a potential upside of 15.96% from the stock's current price.

VOYA has been the subject of a number of other research reports. Barclays lifted their target price on Voya Financial from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Evercore ISI lifted their target price on Voya Financial from $84.00 to $86.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Morgan Stanley reissued an "overweight" rating and set a $90.00 target price (up previously from $89.00) on shares of Voya Financial in a report on Monday. Wells Fargo & Company lifted their target price on Voya Financial from $76.00 to $82.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Finally, UBS Group lifted their target price on Voya Financial from $87.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $83.70.

Voya Financial Price Performance

NYSE VOYA traded up $1.12 on Tuesday, hitting $75.03. 26,663 shares of the company were exchanged, compared to its average volume of 935,995. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.44. The company has a market cap of $7.23 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.60 and a beta of 0.99. The firm has a 50 day moving average of $70.76 and a two-hundred day moving average of $67.72. 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 announced its quarterly earnings results on Tuesday, August 5th. The asset manager reported $2.40 EPS for the quarter, beating analysts' consensus estimates of $2.09 by $0.31. The company had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.94 billion. Voya Financial had a return on equity of 13.72% and a net margin of 6.73%. Voya Financial's revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.18 EPS. On average, equities analysts predict that Voya Financial will post 8.39 EPS for the current year.

Insider Buying and Selling at Voya Financial

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

Institutional Investors Weigh In On Voya Financial

A number of hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC boosted its position in shares of Voya Financial by 4.2% in the 2nd quarter. ProShare Advisors LLC now owns 4,269 shares of the asset manager's stock worth $303,000 after purchasing an additional 171 shares in the last quarter. Greenleaf Trust boosted its holdings in Voya Financial by 3.1% in the 1st quarter. Greenleaf Trust now owns 6,301 shares of the asset manager's stock worth $427,000 after buying an additional 190 shares during the last quarter. State of Michigan Retirement System raised its position in shares of Voya Financial by 0.9% during the 1st quarter. State of Michigan Retirement System now owns 23,016 shares of the asset manager's stock valued at $1,560,000 after buying an additional 200 shares during the period. Fifth Third Bancorp raised its position in shares of Voya Financial by 13.7% during the 1st quarter. Fifth Third Bancorp now owns 1,747 shares of the asset manager's stock valued at $118,000 after buying an additional 211 shares during the period. Finally, Wealthspire Advisors LLC grew its stake in shares of Voya Financial by 7.4% during the first quarter. Wealthspire Advisors LLC now owns 3,186 shares of the asset manager's stock worth $216,000 after purchasing an additional 219 shares in the last quarter. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

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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