Voya Financial (NYSE:VOYA) Price Target Cut to $76.00 by Analysts at Morgan Stanley

Voya Financial (NYSE:VOYA) had its target price cut by Morgan Stanley from $78.00 to $76.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price objective would indicate a potential upside of 3.37% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Royal Bank of Canada dropped their price target on Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Evercore ISI cut their target price on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a report on Tuesday, December 10th. Keefe, Bruyette & Woods decreased their price target on shares of Voya Financial from $90.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price objective on shares of Voya Financial from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, UBS Group raised shares of Voya Financial to a “strong-buy” rating in a report on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.27.

Voya Financial Stock Up 2.0 %

VOYA traded up $1.44 during trading hours on Tuesday, hitting $73.53. 155,573 shares of the company’s stock were exchanged, compared to its average volume of 871,545. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59. Voya Financial has a 12-month low of $64.10 and a 12-month high of $84.30. The firm has a market cap of $7.07 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 0.46 and a beta of 1.05. The firm has a 50 day moving average of $70.57 and a 200 day moving average of $74.10.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Tuesday, February 4th. The asset manager reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.65). Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. Analysts predict that Voya Financial will post 8.95 EPS for the current fiscal year.

Institutional Trading of Voya Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VOYA. Northwest & Ethical Investments L.P. raised its position in shares of Voya Financial by 4.1% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 31,739 shares of the asset manager’s stock worth $2,185,000 after buying an additional 1,239 shares during the period. Algebris UK Ltd purchased a new position in shares of Voya Financial in the 4th quarter worth about $6,731,000. Xponance Inc. lifted its stake in shares of Voya Financial by 5.5% in the 4th quarter. Xponance Inc. now owns 13,115 shares of the asset manager’s stock valued at $903,000 after purchasing an additional 684 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Voya Financial by 29.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,639 shares of the asset manager’s stock worth $250,000 after purchasing an additional 837 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in Voya Financial during the 4th quarter worth approximately $192,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Company Profile

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.