Voya Financial (NYSE:VOYA) PT Raised to $83.00 at Bank of America

Voya Financial (NYSE:VOYA) had its target price lifted by equities researchers at Bank of America from $80.00 to $83.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. Bank of America‘s target price would suggest a potential upside of 15.49% from the stock’s current price.

Several other research firms also recently commented on VOYA. Piper Sandler upped their price objective on shares of Voya Financial from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, April 5th. JPMorgan Chase & Co. raised their price objective on shares of Voya Financial from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, July 2nd. Wells Fargo & Company raised their price objective on shares of Voya Financial from $91.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Evercore ISI raised their price objective on shares of Voya Financial from $79.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Finally, Jefferies Financial Group dropped their target price on shares of Voya Financial from $79.00 to $78.00 and set a “hold” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.60.

Voya Financial Price Performance

VOYA opened at $71.87 on Thursday. The firm has a market cap of $7.24 billion, a P/E ratio of 10.21, a PEG ratio of 0.51 and a beta of 1.05. The firm has a 50-day moving average of $73.04 and a 200 day moving average of $71.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.30. Voya Financial has a fifty-two week low of $63.02 and a fifty-two week high of $77.00.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, April 30th. The asset manager reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.30. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.80 billion. Voya Financial had a net margin of 10.48% and a return on equity of 16.74%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.69 earnings per share. On average, research analysts expect that Voya Financial will post 8.41 EPS for the current year.

Insiders Place Their Bets

In other Voya Financial news, Director Yvette S. Butler sold 2,165 shares of Voya Financial stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $73.78, for a total transaction of $159,733.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VOYA. Chilton Capital Management LLC purchased a new position in shares of Voya Financial in the fourth quarter worth $26,000. SYSTM Wealth Solutions LLC increased its stake in shares of Voya Financial by 56.2% in the first quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock worth $31,000 after buying an additional 149 shares during the period. FinTrust Capital Advisors LLC purchased a new position in shares of Voya Financial in the first quarter worth $43,000. Venturi Wealth Management LLC increased its stake in shares of Voya Financial by 213.2% in the first quarter. Venturi Wealth Management LLC now owns 595 shares of the asset manager’s stock worth $44,000 after buying an additional 405 shares during the period. Finally, GAMMA Investing LLC purchased a new position in shares of Voya Financial in the fourth quarter worth $49,000. 96.10% of the stock is owned by hedge funds and other institutional investors.

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.