Voya Financial (NYSE:VOYA) Price Target Cut to $86.00

Posted by Defense World Staff on Apr 7th, 2023

Voya Financial (NYSE:VOYA – Get Rating) had its price objective reduced by research analysts at Wells Fargo & Company from $89.00 to $86.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 21.09% from the stock’s current price.

A number of other equities analysts also recently issued reports on VOYA. JPMorgan Chase & Co. increased their price target on shares of Voya Financial from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. Jefferies Financial Group lifted their price target on shares of Voya Financial from $74.00 to $78.00 and gave the stock a “hold” rating in a research note on Tuesday, February 21st. Truist Financial lifted their price target on shares of Voya Financial from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Thursday, February 9th. Morgan Stanley raised their price objective on shares of Voya Financial from $78.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, January 10th. Finally, StockNews.com began coverage on shares of Voya Financial in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Voya Financial has a consensus rating of “Moderate Buy” and a consensus price target of $82.92.

Voya Financial Price Performance

Shares of NYSE VOYA opened at $71.02 on Wednesday. Voya Financial has a twelve month low of $56.20 and a twelve month high of $78.11. The stock’s 50 day moving average price is $71.36 and its 200-day moving average price is $66.72. The company has a market capitalization of $6.91 billion, a PE ratio of 16.14, a PEG ratio of 0.62 and a beta of 1.15. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.57.

Voya Financial (NYSE:VOYA – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The asset manager reported $2.18 EPS for the quarter, beating the consensus estimate of $1.53 by $0.65. Voya Financial had a return on equity of 13.09% and a net margin of 9.37%. The business had revenue of $880.00 million for the quarter, compared to the consensus estimate of $259.86 million. During the same quarter in the prior year, the business earned $1.90 earnings per share. On average, equities analysts anticipate that Voya Financial will post 8.13 EPS for the current year.

Insider Activity

In related news, CEO Rodney O. Martin, Jr. sold 109,588 shares of Voya Financial stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $74.23, for a total value of $8,134,717.24. Following the transaction, the chief executive officer now owns 220,882 shares of the company’s stock, valued at approximately $16,396,070.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Rodney O. Martin, Jr. sold 109,588 shares of the business’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $74.23, for a total value of $8,134,717.24. Following the completion of the sale, the chief executive officer now directly owns 220,882 shares in the company, valued at approximately $16,396,070.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rodney O. Martin, Jr. sold 70,774 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $73.59, for a total value of $5,208,258.66. Following the transaction, the director now owns 228,208 shares of the company’s stock, valued at $16,793,826.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 223,650 shares of company stock valued at $16,595,760. 1.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Voya Financial

A number of hedge funds have recently modified their holdings of VOYA. Boston Partners acquired a new position in Voya Financial in the 3rd quarter valued at $121,188,000. Norges Bank acquired a new stake in Voya Financial during the fourth quarter worth approximately $62,259,000. DekaBank Deutsche Girozentrale grew its stake in Voya Financial by 392.8% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,075,667 shares of the asset manager’s stock worth $66,581,000 after purchasing an additional 857,400 shares during the period. Millennium Management LLC boosted its holdings in Voya Financial by 162.1% in the fourth quarter. Millennium Management LLC now owns 971,237 shares of the asset manager’s stock worth $59,721,000 after acquiring an additional 600,633 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Voya Financial by 287.6% in the fourth quarter. Two Sigma Investments LP now owns 711,621 shares of the asset manager’s stock worth $43,758,000 after acquiring an additional 528,036 shares in the last quarter.

About Voya Financial

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Voya Financial, Inc is a retirement, investment, and insurance company, which engages in the provision of financial services. It operates through the following segments: Retirement, Investment Management, and Employee Benefits. The Retirement segment offers tax-deferred, employer-sponsored retirement savings plans and administrative services.