Voya Financial (NYSE:VOYA – Get Free Report) had its target price lifted by analysts at Royal Bank Of Canada from $107.00 to $110.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 9.08% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the company. Raymond James Financial raised Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 target price on the stock in a research note on Monday, June 8th. Morgan Stanley boosted their price target on Voya Financial from $84.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Jefferies Financial Group lifted their target price on shares of Voya Financial from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, July 10th. UBS Group increased their price target on shares of Voya Financial from $95.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.38.
Read Our Latest Report on VOYA
Voya Financial Price Performance
Voya Financial (NYSE:VOYA – Get Free Report) last released its earnings results on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.47). Voya Financial had a net margin of 7.45% and a return on equity of 12.17%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period in the prior year, the company earned $1.66 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities research analysts anticipate that Voya Financial will post 9.32 EPS for the current fiscal year.
Insider Activity
In other Voya Financial news, insider Trevor Ogle sold 3,994 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $90.00, for a total value of $359,460.00. Following the transaction, the insider directly owned 2,887 shares in the company, valued at approximately $259,830. This trade represents a 58.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.57% of the company’s stock.
Hedge Funds Weigh In On Voya Financial
Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in Voya Financial by 21.7% in the first quarter. Royal Bank of Canada now owns 84,715 shares of the asset manager’s stock valued at $5,741,000 after buying an additional 15,091 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Voya Financial by 8.4% during the first 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 during the last quarter. Empowered Funds LLC increased its holdings in Voya Financial by 13.5% during the first quarter. Empowered Funds LLC now owns 37,836 shares of the asset manager’s stock worth $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 raised its holdings in shares of Voya Financial by 1.7% in 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 purchasing an additional 6,127 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of Voya Financial by 44.0% in the first quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock valued at $49,000 after buying an additional 223 shares during the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.
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.
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