Voya Financial (NYSE:VOYA) Price Target Cut to $90.00 by Analysts at Royal Bank of Canada

Voya Financial (NYSE:VOYA) had its price target dropped by equities researchers at Royal Bank of Canada from $95.00 to $90.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Royal Bank of Canada’s price objective points to a potential upside of 26.49% from the company’s previous close.

A number of other analysts also recently commented on VOYA. Morgan Stanley dropped their price objective on Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. UBS Group upgraded Voya Financial to a “strong-buy” rating in a report on Monday, November 11th. Wells Fargo & Company decreased their price target on shares of Voya Financial from $92.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. cut shares of Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price target for the company. in a research report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Voya Financial from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.67.

Voya Financial Trading Down 1.5 %

VOYA traded down $1.06 during trading on Wednesday, hitting $71.15. The company’s stock had a trading volume of 248,781 shares, compared to its average volume of 813,737. The firm’s 50 day moving average price is $80.94 and its 200-day moving average price is $75.13. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $6.85 billion, a PE ratio of 11.33, a PEG ratio of 0.56 and a beta of 1.02. Voya Financial has a twelve month low of $63.11 and a twelve month high of $84.30.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.07. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.86 billion. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. Voya Financial’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.07 EPS. On average, analysts expect that Voya Financial will post 8.4 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Tony D. Oh sold 715 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total transaction of $58,594.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC increased its stake in shares of Voya Financial by 25.9% during the third quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock valued at $228,474,000 after acquiring an additional 592,523 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Voya Financial by 1.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager’s stock worth $212,152,000 after buying an additional 38,438 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Voya Financial by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock worth $146,234,000 after buying an additional 248,795 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Voya Financial by 29.6% during the second quarter. AQR Capital Management LLC now owns 651,803 shares of the asset manager’s stock worth $46,376,000 after buying an additional 148,810 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Voya Financial by 7.2% during the second quarter. Thrivent Financial for Lutherans now owns 562,355 shares of the asset manager’s stock worth $40,011,000 after buying an additional 37,760 shares in the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.

About Voya Financial

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.