Voya Financial (NYSE:VOYA) Price Target Raised to $100.00

Voya Financial (NYSE:VOYA) had its price objective boosted by research analysts at Wells Fargo & Company from $89.00 to $100.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 2.71% from the company’s previous close.

Several other research firms have also commented on VOYA. Barclays increased their price target on shares of Voya Financial from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday. Weiss Ratings upgraded Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 5th. Morgan Stanley upped their target price on Voya Financial from $84.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Raymond James Financial upgraded Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 target price on the stock in a report on Monday, June 8th. Finally, JPMorgan Chase & Co. dropped their price target on Voya Financial from $89.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Voya Financial has an average rating of “Moderate Buy” and an average target price of $95.27.

Voya Financial Price Performance

Shares of Voya Financial stock traded up $1.17 on Thursday, hitting $97.36. The company’s stock had a trading volume of 722,217 shares, compared to its average volume of 1,159,471. The company has a market capitalization of $8.83 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 0.87 and a beta of 0.91. Voya Financial has a 52-week low of $64.50 and a 52-week high of $98.72. The firm has a fifty day moving average price of $86.32 and a 200-day moving average price of $77.57. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.48.

Voya Financial (NYSE:VOYA) last posted its earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.24. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.98 billion. Voya Financial had a net margin of 8.24% and a return on equity of 13.84%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the firm posted $2.00 EPS. On average, equities research analysts expect that Voya Financial will post 9.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Trevor Ogle sold 3,994 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $90.00, for a total transaction of $359,460.00. Following the completion of the sale, the insider directly owned 2,887 shares of the company’s stock, valued at approximately $259,830. This trade represents a 58.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On Voya Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in shares of Voya Financial by 75.5% in the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock worth $26,000 after acquiring an additional 151 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of Voya Financial in the 4th quarter valued at approximately $28,000. V Square Quantitative Management LLC acquired a new position in shares of Voya Financial in the 4th quarter valued at approximately $33,000. Systematic Financial Management LP purchased a new position in shares of Voya Financial during the 4th quarter valued at approximately $37,000. Finally, Root Financial Partners LLC grew its holdings in Voya Financial by 59.6% during the 1st quarter. Root Financial Partners LLC now owns 573 shares of the asset manager’s stock worth $39,000 after acquiring an additional 214 shares in the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

About Voya Financial

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.