Voya Financial (NYSE:VOYA) Price Target Lowered to $85.00 at Royal Bank Of Canada

Voya Financial (NYSE:VOYA) had its target price reduced by equities researchers at Royal Bank Of Canada from $87.00 to $85.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 24.05% from the stock’s current price.

VOYA has been the subject of a number of other reports. Weiss Ratings lowered Voya Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, November 13th. Morgan Stanley upped their price objective on Voya Financial from $90.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, October 7th. Barclays raised their target price on Voya Financial from $81.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Evercore ISI lifted their target price on Voya Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, August 13th. Finally, Wall Street Zen downgraded shares of Voya Financial from a “buy” rating to a “hold” rating in a report on Sunday. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $84.30.

Voya Financial Price Performance

Voya Financial stock traded down $1.13 during trading hours on Wednesday, hitting $68.52. 101,211 shares of the company traded hands, compared to its average volume of 878,699. Voya Financial has a 1-year low of $52.43 and a 1-year high of $83.58. The firm has a market cap of $6.52 billion, a P/E ratio of 11.77, a P/E/G ratio of 0.49 and a beta of 0.99. The firm’s 50-day simple moving average is $73.98 and its two-hundred day simple moving average is $71.70. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.42.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, November 4th. The asset manager reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.23. Voya Financial had a net margin of 7.55% and a return on equity of 13.89%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period last year, the firm posted $2.12 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. As a group, analysts forecast that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Voya Financial

A number of institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in Voya Financial by 17.7% during the third quarter. Bank of New York Mellon Corp now owns 6,516,879 shares of the asset manager’s stock valued at $487,463,000 after buying an additional 977,870 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Voya Financial by 23.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,679,580 shares of the asset manager’s stock valued at $384,849,000 after acquiring an additional 1,095,190 shares during the period. Wellington Management Group LLP lifted its position in shares of Voya Financial by 5.4% in the 1st quarter. Wellington Management Group LLP now owns 5,512,176 shares of the asset manager’s stock valued at $373,505,000 after acquiring an additional 280,316 shares in the last quarter. Kelly Financial Group LLC lifted its position in shares of Voya Financial by 1.9% in the 3rd quarter. Kelly Financial Group LLC now owns 4,072,102 shares of the asset manager’s stock valued at $304,593,000 after acquiring an additional 77,418 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its stake in Voya Financial by 1.7% in the 2nd quarter. Pzena Investment Management LLC now owns 3,661,257 shares of the asset manager’s stock worth $259,949,000 after purchasing an additional 62,093 shares during the period. 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.