Voya Financial (NYSE:VOYA) Price Target Cut to $89.00 by Analysts at UBS Group

Voya Financial (NYSE:VOYA) had its price target reduced by research analysts at UBS Group from $94.00 to $89.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. UBS Group’s target price indicates a potential upside of 30.11% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Evercore ISI decreased their price objective on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a research note on Tuesday, December 10th. Morgan Stanley upgraded Voya Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $76.00 to $87.00 in a report on Friday, February 28th. Wells Fargo & Company boosted their price objective on Voya Financial from $76.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Piper Sandler lowered their target price on Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods decreased their price target on Voya Financial from $90.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $82.83.

Voya Financial Trading Up 0.7 %

Shares of VOYA traded up $0.47 during trading hours on Wednesday, hitting $68.41. The stock had a trading volume of 174,863 shares, compared to its average volume of 833,143. Voya Financial has a 12-month low of $64.10 and a 12-month high of $84.30. The firm has a market cap of $6.53 billion, a P/E ratio of 11.19, a P/E/G ratio of 0.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.31 and a current ratio of 0.30. The company’s fifty day simple moving average is $70.38 and its 200 day simple moving average is $74.34.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, February 4th. The asset manager reported $1.50 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. Equities research analysts forecast that Voya Financial will post 8.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Voya Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in Voya Financial by 3.6% in the fourth quarter. Victory Capital Management Inc. now owns 327,783 shares of the asset manager’s stock worth $22,561,000 after purchasing an additional 11,336 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in shares of Voya Financial by 420.8% in the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 64,398 shares of the asset manager’s stock worth $4,812,000 after acquiring an additional 52,032 shares in the last quarter. KBC Group NV increased its holdings in shares of Voya Financial by 260.5% in the 4th quarter. KBC Group NV now owns 9,384 shares of the asset manager’s stock valued at $646,000 after acquiring an additional 6,781 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Voya Financial in the 4th quarter valued at approximately $47,155,000. Finally, Barclays PLC raised its position in shares of Voya Financial by 48.2% during the 3rd quarter. Barclays PLC now owns 48,890 shares of the asset manager’s stock valued at $3,872,000 after acquiring an additional 15,902 shares in the last quarter. 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.