Wells Fargo & Company Forecasts Strong Price Appreciation for Voya Financial (NYSE:VOYA) Stock

Voya Financial (NYSE:VOYA) had its price objective increased by stock analysts at Wells Fargo & Company from $76.00 to $79.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 7.43% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Piper Sandler cut their price objective on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Morgan Stanley dropped their target price on shares of Voya Financial from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. UBS Group raised shares of Voya Financial to a “strong-buy” rating in a research report on Monday, November 11th. Royal Bank of Canada dropped their price objective on Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods reduced their target price on Voya Financial from $90.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Voya Financial presently has an average rating of “Moderate Buy” and an average target price of $82.55.

Voya Financial Stock Performance

Shares of VOYA stock opened at $73.53 on Wednesday. The company has a market cap of $7.08 billion, a P/E ratio of 12.02, a PEG ratio of 0.49 and a beta of 1.05. The firm has a fifty day moving average price of $70.06 and a 200 day moving average price of $74.20. 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.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, February 4th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. Sell-side analysts predict that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp grew its position in Voya Financial by 81.0% in the 4th quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager’s stock valued at $28,000 after buying an additional 183 shares during the last quarter. SRS Capital Advisors Inc. raised its position in Voya Financial by 207.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 485 shares of the asset manager’s stock worth $33,000 after buying an additional 327 shares during the last quarter. Quarry LP acquired a new stake in shares of Voya Financial in the 4th quarter worth $37,000. R Squared Ltd purchased a new stake in shares of Voya Financial in the fourth quarter valued at about $41,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Voya Financial by 45.0% during the fourth quarter. Venturi Wealth Management LLC now owns 648 shares of the asset manager’s stock worth $45,000 after acquiring an additional 201 shares during the period. 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.