Voya Financial (NYSE:VOYA) Receives “Overweight” Rating from Morgan Stanley

Voya Financial (NYSE:VOYA)‘s stock had its “overweight” rating reissued by Morgan Stanley in a research report issued on Tuesday, Marketbeat reports. They presently have a $88.00 target price on the asset manager’s stock, up from their previous target price of $86.00. Morgan Stanley’s price objective points to a potential upside of 26.73% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of Voya Financial from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company raised their target price on Voya Financial from $69.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Bank of America reiterated an “underperform” rating and set a $71.00 price target (down previously from $79.00) on shares of Voya Financial in a research note on Friday, March 28th. UBS Group cut their price objective on Voya Financial from $89.00 to $88.00 and set a “buy” rating on the stock in a report on Friday, May 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on Voya Financial from $80.00 to $83.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Voya Financial has a consensus rating of “Hold” and an average price target of $82.08.

Voya Financial Stock Up 1.4%

Shares of Voya Financial stock traded up $0.97 during trading on Tuesday, reaching $69.44. The company’s stock had a trading volume of 16,597 shares, compared to its average volume of 881,247. Voya Financial has a 1-year low of $52.43 and a 1-year high of $84.30. The company has a 50-day simple moving average of $64.91 and a two-hundred day simple moving average of $67.12. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.58. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 0.58 and a beta of 0.99.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, May 6th. The asset manager reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.56. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.94 billion. Voya Financial had a return on equity of 14.05% and a net margin of 7.18%. The company’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.77 earnings per share. As a group, equities analysts forecast that Voya Financial will post 8.39 earnings per share for the current year.

Insider Transactions at Voya Financial

In related news, Director Yvette S. Butler sold 1,700 shares of Voya Financial stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $66.18, for a total transaction of $112,506.00. Following the transaction, the director now owns 355 shares in the company, valued at approximately $23,493.90. This trade represents a 82.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in shares of Voya Financial during the first quarter worth $1,973,000. WBI Investments LLC acquired a new position in shares of Voya Financial during the first quarter worth about $231,000. Westbourne Investments Inc. purchased a new stake in shares of Voya Financial during the first quarter worth approximately $929,000. Geneos Wealth Management Inc. raised its holdings in Voya Financial by 44.0% in the first quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock valued at $49,000 after acquiring an additional 223 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in Voya Financial by 247.1% in the first quarter. Jane Street Group LLC now owns 190,035 shares of the asset manager’s stock valued at $12,877,000 after acquiring an additional 135,292 shares in the last quarter. 96.10% of the stock is currently owned by institutional investors and hedge funds.

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.