Voya Financial (NYSE:VOYA) PT Raised to $90.00 at Royal Bank of Canada

Voya Financial (NYSE:VOYA - Get Free Report) had its price target raised by equities research analysts at Royal Bank of Canada from $83.00 to $90.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an "outperform" rating on the asset manager's stock. Royal Bank of Canada's price objective indicates a potential upside of 12.68% from the company's previous close.

Several other brokerages also recently commented on VOYA. Barclays upped their price objective on shares of Voya Financial from $84.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday. JPMorgan Chase & Co. cut Voya Financial from an "overweight" rating to a "neutral" rating and set a $87.00 price objective for the company. in a report on Thursday, October 3rd. Morgan Stanley reduced their target price on Voya Financial from $76.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Monday, August 19th. Piper Sandler boosted their price objective on shares of Voya Financial from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their target price on shares of Voya Financial from $87.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $85.27.

Voya Financial Trading Up 0.9 %

NYSE VOYA traded up $0.74 during trading on Friday, hitting $79.87. 655,988 shares of the company's stock traded hands, compared to its average volume of 819,994. The firm has a market cap of $7.85 billion, a P/E ratio of 10.52, a PEG ratio of 0.59 and a beta of 1.03. Voya Financial has a 12-month low of $63.02 and a 12-month high of $80.36. The stock has a fifty day moving average of $72.56 and a two-hundred day moving average of $72.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.30 and a quick ratio of 0.30.

Voya Financial (NYSE:VOYA - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The asset manager reported $2.27 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.13. Voya Financial had a return on equity of 16.11% and a net margin of 10.87%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. The business's quarterly revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that Voya Financial will post 8.37 EPS for the current year.

Hedge Funds Weigh In On Voya Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. FORA Capital LLC lifted its holdings in shares of Voya Financial by 94.1% during the first quarter. FORA Capital LLC now owns 28,175 shares of the asset manager's stock valued at $2,083,000 after purchasing an additional 13,662 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Voya Financial by 149.4% during the 1st quarter. Empowered Funds LLC now owns 25,399 shares of the asset manager's stock valued at $1,877,000 after acquiring an additional 15,216 shares during the last quarter. Capstone Investment Advisors LLC grew its stake in shares of Voya Financial by 348.4% in the first quarter. Capstone Investment Advisors LLC now owns 17,993 shares of the asset manager's stock worth $1,330,000 after acquiring an additional 13,980 shares during the period. M&G Plc raised its holdings in shares of Voya Financial by 18.6% during the second quarter. M&G Plc now owns 117,706 shares of the asset manager's stock valued at $8,357,000 after purchasing an additional 18,471 shares during the last quarter. Finally, Entropy Technologies LP lifted its position in Voya Financial by 62.3% during the first quarter. Entropy Technologies LP now owns 26,997 shares of the asset manager's stock valued at $1,996,000 after purchasing an additional 10,360 shares during the period. 96.10% of the stock is currently owned by institutional investors.

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.