Voya Financial (NYSE:VOYA) Given New $85.00 Price Target at Wells Fargo & Company

Voya Financial (NYSE:VOYA) had its price target dropped by Wells Fargo & Company from $86.00 to $85.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target points to a potential upside of 23.65% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods dropped their price target on shares of Voya Financial from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Tuesday, November 11th. Royal Bank Of Canada increased their price target on Voya Financial from $85.00 to $87.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. UBS Group set a $90.00 target price on Voya Financial in a research report on Wednesday, February 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Voya Financial in a research report on Monday, December 29th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Voya Financial in a research note on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Voya Financial has a consensus rating of “Moderate Buy” and a consensus target price of $86.67.

Voya Financial Stock Performance

Shares of VOYA stock traded down $0.99 on Wednesday, reaching $68.74. The stock had a trading volume of 94,868 shares, compared to its average volume of 953,008. Voya Financial has a 12 month low of $52.43 and a 12 month high of $79.99. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 0.47 and a beta of 0.89. The firm’s 50-day moving average is $75.45 and its two-hundred day moving average is $74.26. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.41.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, February 3rd. The asset manager reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.17). The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. Voya Financial had a return on equity of 13.96% and a net margin of 7.99%.The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.40 EPS. On average, research analysts expect that Voya Financial will post 8.39 EPS for the current fiscal year.

Institutional Trading of Voya Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in Voya Financial by 17.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,516,879 shares of the asset manager’s stock worth $487,463,000 after acquiring an additional 977,870 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Voya Financial by 5.4% in the fourth quarter. Wellington Management Group LLP now owns 4,492,908 shares of the asset manager’s stock worth $334,677,000 after purchasing an additional 230,877 shares during the last quarter. Kelly Financial Group LLC raised its position in Voya Financial by 1.9% during the 3rd quarter. Kelly Financial Group LLC now owns 4,072,102 shares of the asset manager’s stock worth $304,593,000 after purchasing an additional 77,418 shares during the last quarter. Boston Partners lifted its holdings in Voya Financial by 1.8% during the 4th quarter. Boston Partners now owns 3,557,281 shares of the asset manager’s stock worth $265,363,000 after buying an additional 61,962 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Voya Financial by 6.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,418,536 shares of the asset manager’s stock valued at $242,716,000 after buying an additional 219,130 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors.

Voya Financial Company Profile

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.