Voya Financial (NYSE:VOYA) Price Target Cut to $85.00 by Analysts at Royal Bank of Canada

Voya Financial (NYSE:VOYA) had its price target decreased by research analysts at Royal Bank of Canada from $90.00 to $85.00 in a report issued on Monday,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 21.97% from the company’s current price.

Other analysts have also issued reports about the company. Barclays lowered their target price on Voya Financial from $85.00 to $81.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 10th. Piper Sandler decreased their price objective on Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. UBS Group upgraded Voya Financial to a “strong-buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on Voya Financial from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods decreased their target price on Voya Financial from $92.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.27.

Voya Financial Trading Down 1.8 %

VOYA stock traded down $1.30 during mid-day trading on Monday, reaching $69.69. The company’s stock had a trading volume of 94,653 shares, compared to its average volume of 689,194. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.49 and a beta of 1.05. The business’s 50 day moving average price is $72.02 and its 200 day moving average price is $74.16. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54. Voya Financial has a 12 month low of $63.11 and a 12 month high of $84.30.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, beating the consensus estimate of $2.05 by $0.07. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company posted $2.07 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities research analysts predict that Voya Financial will post 7.11 EPS for the current year.

Insider Activity at Voya Financial

In other Voya Financial news, insider Tony D. Oh sold 715 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total value of $58,594.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Voya Financial

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC raised its position in shares of Voya Financial by 25.9% in the 3rd quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock worth $228,474,000 after acquiring an additional 592,523 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Voya Financial by 1.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager’s stock worth $212,152,000 after acquiring an additional 38,438 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of Voya Financial in the 4th quarter worth approximately $47,155,000. Victory Capital Management Inc. raised its position in shares of Voya Financial by 12.2% in the 3rd quarter. Victory Capital Management Inc. now owns 316,447 shares of the asset manager’s stock worth $25,069,000 after acquiring an additional 34,413 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in Voya Financial by 8.2% during the 3rd quarter. Retirement Systems of Alabama now owns 272,339 shares of the asset manager’s stock valued at $21,575,000 after buying an additional 20,750 shares in the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Company Profile

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.