Keefe, Bruyette & Woods Issues Positive Forecast for Voya Financial (NYSE:VOYA) Stock Price

Voya Financial (NYSE:VOYA) had its target price boosted by analysts at Keefe, Bruyette & Woods from $92.00 to $109.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 10.44% from the company’s current price.

Several other research firms have also recently issued reports on VOYA. Bank of America decreased their price objective on Voya Financial from $72.00 to $70.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. TD Cowen upped their target price on Voya Financial from $100.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings upgraded Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 5th. Royal Bank Of Canada raised their price target on Voya Financial from $91.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Finally, Raymond James Financial upgraded Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 price target for the company in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Voya Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.25.

Voya Financial Price Performance

Voya Financial stock opened at $98.69 on Monday. The stock has a market capitalization of $8.95 billion, a P/E ratio of 14.92, a P/E/G ratio of 0.89 and a beta of 0.91. Voya Financial has a 12-month low of $64.50 and a 12-month high of $98.87. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.27 and a quick ratio of 0.27. The firm’s 50-day moving average is $86.94 and its two-hundred day moving average is $77.87.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Tuesday, May 5th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.24. Voya Financial had a net margin of 8.24% and a return on equity of 13.84%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm posted $2.00 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities analysts predict that Voya Financial will post 9.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Trevor Ogle sold 3,994 shares of Voya Financial stock in a transaction on Monday, June 8th. The shares were sold at an average price of $90.00, for a total transaction of $359,460.00. Following the sale, the insider owned 2,887 shares of the company’s stock, valued at $259,830. The trade was a 58.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Voya Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada grew its stake in Voya Financial by 21.7% during the 1st quarter. Royal Bank of Canada now owns 84,715 shares of the asset manager’s stock valued at $5,741,000 after purchasing an additional 15,091 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Voya Financial by 8.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 662,058 shares of the asset manager’s stock valued at $44,861,000 after purchasing an additional 51,376 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Voya Financial by 13.5% during the 1st quarter. Empowered Funds LLC now owns 37,836 shares of the asset manager’s stock valued at $2,564,000 after buying an additional 4,490 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Voya Financial by 1.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,144 shares of the asset manager’s stock valued at $25,081,000 after buying an additional 6,127 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of Voya Financial by 44.0% during the first quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock worth $49,000 after buying an additional 223 shares in the last quarter. 96.10% of the stock is owned by hedge funds and other 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.