Voya Financial (NYSE:VOYA) PT Raised to $90.00

Voya Financial (NYSE:VOYA) had its price objective hoisted by equities researchers at Royal Bank of Canada from $83.00 to $90.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 12.73% from the company’s previous close.

Other analysts have also issued research reports about the stock. Morgan Stanley dropped their price objective on shares of Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Wells Fargo & Company raised their price target on shares of Voya Financial from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday. 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. Raymond James lowered shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, September 13th. Finally, Bank of America raised their price target on shares of Voya Financial from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.27.

Voya Financial Stock Performance

NYSE VOYA opened at $79.84 on Friday. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 0.59 and a beta of 1.03. The company has a 50 day moving average of $72.56 and a 200-day moving average of $72.20. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. Voya Financial has a 1-year low of $63.02 and a 1-year high of $80.36.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, July 30th. The asset manager reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.13. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.87 billion. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $2.31 earnings per share. On average, equities analysts forecast that Voya Financial will post 8.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Voya Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. boosted its position in shares of Voya Financial by 118.9% during the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after purchasing an additional 239 shares in the last quarter. FinTrust Capital Advisors LLC bought a new position in shares of Voya Financial during the first quarter worth $43,000. Allspring Global Investments Holdings LLC boosted its position in shares of Voya Financial by 6,850.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock worth $62,000 after purchasing an additional 822 shares in the last quarter. Quarry LP bought a new position in shares of Voya Financial during the second quarter worth $61,000. Finally, Mather Group LLC. bought a new position in shares of Voya Financial during the first quarter worth $85,000. 96.10% of the stock is 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.