Voya Financial (NYSE:VOYA) Given New $89.00 Price Target at Evercore ISI

Voya Financial (NYSE:VOYA - Get Free Report) had its target price dropped by equities researchers at Evercore ISI from $94.00 to $89.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the asset manager's stock. Evercore ISI's target price would suggest a potential upside of 23.24% from the company's current price.

VOYA has been the subject of several other research reports. UBS Group upgraded shares of Voya Financial to a "strong-buy" rating in a research note on Monday, November 11th. Raymond James cut Voya Financial from a "strong-buy" rating to a "market perform" rating in a report on Friday, September 13th. Royal Bank of Canada lifted their price objective on Voya Financial from $90.00 to $95.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Barclays cut their target price on Voya Financial from $85.00 to $81.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Piper Sandler lifted their price target on shares of Voya Financial from $88.00 to $91.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $86.50.

Voya Financial Stock Performance

VOYA traded down $7.49 during midday trading on Tuesday, reaching $72.22. The company's stock had a trading volume of 2,794,296 shares, compared to its average volume of 816,326. Voya Financial has a twelve month low of $63.11 and a twelve month high of $84.30. The stock has a market cap of $6.95 billion, a P/E ratio of 11.65, a PEG ratio of 0.56 and a beta of 1.02. The company has a fifty day simple moving average of $81.06 and a 200 day simple moving average of $75.14. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54.

Voya Financial (NYSE:VOYA - Get Free Report) last announced 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 net margin of 8.81% and a return on equity of 15.09%. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm posted $2.07 earnings per share. Voya Financial's revenue was up 7.3% compared to the same quarter last year. Research analysts expect that Voya Financial will post 8.4 earnings per share for the current year.

Insider Activity at Voya Financial

In other news, insider Tony D. Oh sold 715 shares of the company'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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.37% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. M&G Plc boosted its stake in shares of Voya Financial by 18.6% in the 2nd 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. Dimensional Fund Advisors LP lifted its stake in shares of Voya Financial by 13.8% in the 2nd 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. Massachusetts Financial Services Co. MA boosted its position in shares of Voya Financial by 1.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager's stock worth $212,152,000 after purchasing an additional 38,438 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Voya Financial by 15,513.4% in the 3rd quarter. International Assets Investment Management LLC now owns 20,922 shares of the asset manager's stock worth $1,657,000 after purchasing an additional 20,788 shares during the last quarter. Finally, FMR LLC grew 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 worth $228,474,000 after purchasing an additional 592,523 shares during the period. 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.