Voya Financial (NYSE:VOYA) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Keefe, Bruyette & Woods raised its price target on Voya Financial from $92 to $109 and kept an outperform rating, implying about 10.4% upside from the current price.
• Analyst sentiment remains constructive overall, with Voya holding a Moderate Buy consensus and an average target price of $99.25; several other firms also recently lifted targets, including Barclays, TD Cowen and RBC.
• Voya reported stronger-than-expected EPS of $2.26 in its latest quarter, beating estimates, while revenue rose 3.1% year over year; the stock also recently traded up 1.2%.

Voya Financial (NYSE:VOYA - Get Free Report) had its price objective upped by equities researchers at Keefe, Bruyette & Woods from $92.00 to $109.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the asset manager's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 10.44% from the company's current price.

VOYA has been the subject of a number of other research reports. Barclays raised their price objective on shares of Voya Financial from $98.00 to $105.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. cut their target price on Voya Financial from $89.00 to $88.00 and set a "neutral" rating for the company in a research note on Tuesday, May 26th. Jefferies Financial Group raised their price target on Voya Financial from $80.00 to $85.00 and gave the company a "hold" rating in a report on Friday. TD Cowen lifted their price target on Voya Financial from $100.00 to $112.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Finally, Royal Bank Of Canada upped their price objective on Voya Financial from $91.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Voya Financial presently has a consensus rating of "Moderate Buy" and an average target price of $99.25.

Voya Financial Stock Up 1.2%

Shares of Voya Financial stock opened at $98.69 on Monday. The company has a market cap of $8.95 billion, a P/E ratio of 14.92, a PEG ratio of 0.89 and a beta of 0.91. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.27 and a current ratio of 0.27. Voya Financial has a one year low of $64.50 and a one year high of $98.87. The firm has a fifty day moving average of $86.94 and a two-hundred day moving average of $77.87.

Voya Financial (NYSE:VOYA - Get Free Report) last released its earnings results on Tuesday, May 5th. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $2.02 by $0.24. Voya Financial had a net margin of 8.24% and a return on equity of 13.84%. The company had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.98 billion. During the same quarter last year, the business earned $2.00 EPS. The business's revenue was up 3.1% on a year-over-year basis. On average, analysts forecast that Voya Financial will post 9.57 earnings per share for the current year.

Insiders Place Their Bets

In other Voya Financial news, insider Trevor Ogle sold 3,994 shares of the firm's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $90.00, for a total transaction of $359,460.00. Following the completion of the transaction, the insider directly owned 2,887 shares in the company, valued at approximately $259,830. This trade represents a 58.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.57% of the company's stock.

Institutional Trading of Voya Financial

Several large investors have recently modified their holdings of VOYA. A&I Financial Services LLC increased its stake in shares of Voya Financial by 11.4% during the 2nd quarter. A&I Financial Services LLC now owns 10,608 shares of the asset manager's stock worth $960,000 after purchasing an additional 1,089 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Voya Financial during the 2nd quarter valued at $11,372,000. Thrive Wealth Management LLC purchased a new position in Voya Financial during the second quarter worth $223,000. GAMMA Investing LLC increased its position in Voya Financial by 17.8% during the second quarter. GAMMA Investing LLC now owns 3,940 shares of the asset manager's stock worth $357,000 after buying an additional 595 shares in the last quarter. Finally, Redwood Investment Management LLC acquired a new position in shares of Voya Financial in the first quarter worth $1,048,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.