Voya Financial (NYSE:VOYA) Stock Price Target Cut by Wells Fargo & Company

Voya Financial (NYSE:VOYA) had its target price lowered by equities researchers at Wells Fargo & Company from $104.00 to $102.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target points to a potential upside of 6.73% from the company’s current price.

A number of other analysts have also weighed in on the stock. Barclays increased their price objective on shares of Voya Financial from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Evercore reaffirmed an “outperform” rating and issued a $111.00 price target on shares of Voya Financial in a report on Friday, August 7th. Morgan Stanley increased their price target on Voya Financial from $92.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. Atlantic Securities set a $79.00 price objective on Voya Financial in a research note on Wednesday, July 15th. Finally, UBS Group boosted their price objective on Voya Financial from $125.00 to $127.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $104.00.

Voya Financial Trading Up 0.7%

Voya Financial stock opened at $95.57 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.51. Voya Financial has a 52 week low of $64.50 and a 52 week high of $105.64. The company has a market capitalization of $8.66 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 0.92 and a beta of 0.90. The stock has a 50-day moving average price of $99.59 and a 200 day moving average price of $90.31.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, August 4th. The asset manager reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.47). Voya Financial had a return on equity of 12.31% and a net margin of 7.45%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the company posted $1.66 EPS. Voya Financial’s quarterly revenue was down 4.3% compared to the same quarter last year. Sell-side analysts anticipate that Voya Financial will post 9.22 EPS for the current year.

Institutional Trading of Voya Financial

A number of hedge funds have recently added to or reduced their stakes in VOYA. BlackRock Inc. purchased a new stake in shares of Voya Financial during the 2nd quarter worth about $850,187,000. Bank of New York Mellon Corp acquired a new position in Voya Financial in the 2nd quarter worth about $520,280,000. Pzena Investment Management LLC acquired a new position in Voya Financial in the 2nd quarter worth about $319,539,000. Dimensional Fund Advisors LP raised its holdings in Voya Financial by 10.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,699,676 shares of the asset manager’s stock worth $184,436,000 after purchasing an additional 248,935 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Voya Financial during the second quarter worth approximately $38,757,000. 96.10% of the stock is owned by hedge funds and other institutional investors.

Voya Financial Company Profile

Voya Financial, Inc is a financial services company that helps individuals, employers and institutions plan, invest and prepare for retirement. The company operates primarily in the United States and focuses on retirement plans, employee benefits and investment management.

Voya’s retirement business provides workplace retirement plans and related services, including plan administration, participant education and advice. Its employee benefits business offers products and services such as group life insurance, disability insurance, supplemental health benefits and health savings account solutions.

Through its investment management operations, Voya serves institutional and individual investors with investment strategies across public and private markets.