Voya Financial (NYSE:VOYA) Price Target Raised to $106.00

Voya Financial (NYSE:VOYA) had its target price boosted by stock analysts at Wells Fargo & Company from $102.00 to $106.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price points to a potential upside of 2.23% from the company’s current price.

Several other analysts have also issued reports on the company. Weiss Ratings upgraded Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 29th. TD Cowen lifted their target price on Voya Financial from $112.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods downgraded Voya Financial from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $110.00 to $108.00 in a research note on Friday, October 9th. Atlantic Securities set a $79.00 target price on Voya Financial in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada increased their price target on Voya Financial from $107.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Voya Financial currently has an average rating of “Moderate Buy” and a consensus price target of $104.00.

Voya Financial Stock Down 0.6%

Shares of VOYA stock opened at $103.69 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.27 and a current ratio of 0.27. The firm’s 50-day moving average is $98.76 and its 200-day moving average is $87.25. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 1.04 and a beta of 0.85. Voya Financial has a 52-week low of $64.50 and a 52-week high of $106.79.

Voya Financial (NYSE:VOYA) last issued its earnings results on Monday, November 2nd. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. Voya Financial had a net margin of 7.75% and a return on equity of 12.67%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the business posted $2.45 EPS. Voya Financial’s revenue was down 4.8% on a year-over-year basis. Sell-side analysts predict that Voya Financial will post 9.16 EPS for the current year.

Insider Activity at Voya Financial

In other news, insider Trevor Ogle sold 2,093 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $95.81, for a total value of $200,530.33. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.57% of the company’s stock.

Institutional Trading of Voya Financial

Hedge funds have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. boosted its stake in Voya Financial by 4.6% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 2,731 shares of the asset manager’s stock valued at $261,000 after purchasing an additional 120 shares during the period. Signaturefd LLC grew its holdings in Voya Financial by 5.6% in the 3rd quarter. Signaturefd LLC now owns 2,351 shares of the asset manager’s stock valued at $222,000 after buying an additional 124 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Voya Financial by 8.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,863 shares of the asset manager’s stock valued at $176,000 after buying an additional 144 shares in the last quarter. Confluence Wealth Services Inc. increased its position in Voya Financial by 0.8% during the 3rd quarter. Confluence Wealth Services Inc. now owns 19,067 shares of the asset manager’s stock worth $1,801,000 after buying an additional 154 shares during the period. Finally, Versant Capital Management Inc increased its position in Voya Financial by 29.6% during the 3rd quarter. Versant Capital Management Inc now owns 696 shares of the asset manager’s stock worth $66,000 after buying an additional 159 shares during the period. 96.10% of the stock is owned by institutional investors and hedge funds.

About Voya Financial

Voya Financial, Inc. is a U.S.-based financial services company focused on workplace benefits, retirement plans and investment management. It serves employers, plan sponsors, institutions and individuals, primarily in the United States. The company provides workplace retirement savings plans and related services, along with employee benefits such as group life, disability and supplemental health coverage. Through its investment management business, Voya offers investment strategies and services to institutional and individual clients.