Morgan Stanley Issues Positive Forecast for Voya Financial (NYSE:VOYA) Stock Price

Voya Financial (NYSE:VOYA) had its price target increased by equities researchers at Morgan Stanley from $70.00 to $86.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s price target suggests a potential upside of 24.31% from the stock’s current price.

VOYA has been the subject of a number of other research reports. Keefe, Bruyette & Woods upped their price target on Voya Financial from $80.00 to $83.00 and gave the company an “outperform” rating in a research report on Tuesday, May 13th. Wells Fargo & Company upped their price target on Voya Financial from $69.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. UBS Group lowered their price target on Voya Financial from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their price target on Voya Financial from $81.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Finally, Barclays set a $70.00 target price on Voya Financial in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Voya Financial presently has an average rating of “Hold” and an average price target of $82.00.

Voya Financial Trading Down 0.2%

NYSE VOYA opened at $69.18 on Monday. Voya Financial has a 1-year low of $52.43 and a 1-year high of $84.30. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average of $63.01 and a 200-day moving average of $69.66. The firm has a market cap of $6.66 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 0.48 and a beta of 0.95.

Voya Financial (NYSE:VOYA) last released its earnings results on Tuesday, May 6th. The asset manager reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.56. Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the company posted $1.77 EPS. Voya Financial’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, sell-side analysts forecast that Voya Financial will post 8.39 EPS for the current year.

Hedge Funds Weigh In On Voya Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its stake in shares of Voya Financial by 81.0% in the 4th quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager’s stock worth $28,000 after buying an additional 183 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in Voya Financial by 207.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 485 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 327 shares in the last quarter. Quarry LP purchased a new position in Voya Financial during the fourth quarter valued at $37,000. R Squared Ltd purchased a new position in Voya Financial during the fourth quarter valued at $41,000. Finally, Venturi Wealth Management LLC lifted its position in Voya Financial by 45.0% during the fourth quarter. Venturi Wealth Management LLC now owns 648 shares of the asset manager’s stock valued at $45,000 after purchasing an additional 201 shares in the last quarter. 96.10% of the stock is owned by institutional investors.

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.