Wells Fargo & Company Cuts Voya Financial (NYSE:VOYA) Price Target to $87.00

Voya Financial (NYSE:VOYA) had its price objective dropped by Wells Fargo & Company from $92.00 to $87.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 18.93% from the company’s previous close.

VOYA has been the topic of several other reports. Piper Sandler upped their price objective on Voya Financial from $88.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Evercore ISI reduced their price target on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a research report on Tuesday. UBS Group upgraded shares of Voya Financial to a “strong-buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered shares of Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price target for the company. in a report on Thursday, October 3rd. Finally, Barclays decreased their price objective on Voya Financial from $85.00 to $81.00 and set an “overweight” rating on the stock in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.50.

Voya Financial Stock Down 8.2 %

Shares of VOYA traded down $6.56 during mid-day trading on Tuesday, reaching $73.15. The company’s stock had a trading volume of 1,772,310 shares, compared to its average volume of 811,823. Voya Financial has a 1 year low of $63.11 and a 1 year high of $84.30. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.54. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 0.56 and a beta of 1.02. The business has a fifty day moving average of $81.06 and a 200 day moving average of $75.14.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.07. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.86 billion. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.07 EPS. As a group, analysts forecast that Voya Financial will post 8.4 earnings per share for the current fiscal year.

Insider Activity at Voya Financial

In other Voya Financial news, insider Tony D. Oh sold 715 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total value of $58,594.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.37% of the stock is owned by company insiders.

Institutional Trading of Voya Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Retirement Systems of Alabama raised its holdings in shares of Voya Financial by 8.2% during the third quarter. Retirement Systems of Alabama now owns 272,339 shares of the asset manager’s stock valued at $21,575,000 after acquiring an additional 20,750 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Voya Financial during the 3rd quarter valued at approximately $209,000. Coldstream Capital Management Inc. lifted its stake in shares of Voya Financial by 8.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,591 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 270 shares during the period. Barclays PLC raised its holdings in Voya Financial by 48.2% in the third quarter. Barclays PLC now owns 48,890 shares of the asset manager’s stock worth $3,872,000 after purchasing an additional 15,902 shares in the last quarter. Finally, LRI Investments LLC lifted its position in Voya Financial by 780.5% during the third quarter. LRI Investments LLC now owns 1,039 shares of the asset manager’s stock valued at $85,000 after buying an additional 921 shares during the period. Hedge funds and other institutional investors own 96.10% of the company’s stock.

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.