Voya Financial (NYSE:VOYA) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Key Points

• Morgan Stanley increased Voya Financial's price target from $90 to $91, indicating a potential upside of 21.21% from its previous close.
• Voya Financial reported an EPS of $2.40 for the last quarter, surpassing expectations, though revenue decreased by 2.6% year-over-year.
• Current analyst ratings show a consensus of "Moderate Buy" for Voya Financial, with seven analysts rating it as a Buy and three as Hold.

Voya Financial (NYSE:VOYA - Get Free Report) had its price objective increased by research analysts at Morgan Stanley from $90.00 to $91.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the asset manager's stock. Morgan Stanley's target price would indicate a potential upside of 21.21% from the company's previous close.

A number of other equities analysts also recently commented on the company. Evercore ISI boosted their price target on shares of Voya Financial from $84.00 to $86.00 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. increased their target price on Voya Financial from $80.00 to $89.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Barclays raised their target price on Voya Financial from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Royal Bank Of Canada upped their price target on Voya Financial from $80.00 to $87.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Finally, UBS Group raised their price objective on Voya Financial from $87.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Seven investment analysts have rated the stock with 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.80.

Voya Financial Trading Down 0.5%

NYSE:VOYA traded down $0.36 during trading hours on Tuesday, reaching $75.08. The company's stock had a trading volume of 66,019 shares, compared to its average volume of 903,668. The firm has a 50-day simple moving average of $74.39 and a 200-day simple moving average of $68.96. Voya Financial has a 1 year low of $52.43 and a 1 year high of $84.30. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.56 and a beta of 0.98. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.28 and a current ratio of 0.28.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The asset manager reported $2.40 EPS for the quarter, topping the consensus estimate of $2.09 by $0.31. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. Voya Financial had a net margin of 6.73% and a return on equity of 13.72%. The firm's revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.18 earnings per share. Research analysts expect that Voya Financial will post 8.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc grew its holdings in Voya Financial by 225.6% during the second quarter. IFP Advisors Inc now owns 433 shares of the asset manager's stock valued at $31,000 after purchasing an additional 300 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Voya Financial by 149.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 481 shares of the asset manager's stock valued at $34,000 after buying an additional 288 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Voya Financial by 625.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager's stock valued at $39,000 after acquiring an additional 475 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Voya Financial during the 1st quarter valued at approximately $47,000. Finally, Geneos Wealth Management Inc. increased its holdings in Voya Financial by 44.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager's stock worth $49,000 after acquiring an additional 223 shares in the last quarter. 96.10% of the stock is currently owned by 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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