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

Voya Financial (NYSE:VOYA) had its price objective lowered by investment analysts at Royal Bank of Canada from $95.00 to $90.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the asset manager’s stock. Royal Bank of Canada’s price target suggests a potential upside of 26.49% from the company’s previous close.

VOYA has been the subject of a number of other reports. JPMorgan Chase & Co. downgraded Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price objective for the company. in a research report on Thursday, October 3rd. Bank of America reissued a “neutral” rating and set a $83.00 price objective (down from $91.00) on shares of Voya Financial in a research report on Wednesday. UBS Group raised Voya Financial to a “strong-buy” rating in a research report on Monday, November 11th. Barclays cut their price objective on Voya Financial from $85.00 to $81.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Evercore ISI cut their price objective on Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.67.

Voya Financial Trading Down 1.5 %

Shares of VOYA traded down $1.06 during midday trading on Wednesday, reaching $71.15. The company had a trading volume of 248,781 shares, compared to its average volume of 813,737. Voya Financial has a 1-year low of $63.11 and a 1-year high of $84.30. The stock has a market cap of $6.85 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 0.56 and a beta of 1.02. The firm has a 50 day simple moving average of $80.94 and a 200-day simple moving average of $75.13. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.54.

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

Insider Activity

In other news, insider Tony D. Oh sold 715 shares of Voya Financial stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total value of $58,594.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Voya Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its stake in Voya Financial by 25.9% in 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Voya Financial by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock valued at $146,234,000 after purchasing an additional 248,795 shares during the period. Leeward Investments LLC MA acquired a new position in Voya Financial in the 3rd quarter valued at $19,269,000. Renaissance Technologies LLC purchased a new stake in Voya Financial in the 2nd quarter valued at approximately $13,013,000. Finally, AQR Capital Management LLC boosted its holdings in Voya Financial by 29.6% in the 2nd quarter. AQR Capital Management LLC now owns 651,803 shares of the asset manager’s stock valued at $46,376,000 after purchasing an additional 148,810 shares in the last quarter. Hedge funds and other institutional investors 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.