UBS Group Cuts Voya Financial (NYSE:VOYA) Price Target to $89.00

Voya Financial (NYSE:VOYA) had its price objective dropped by equities researchers at UBS Group from $94.00 to $89.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. UBS Group’s price target would indicate a potential upside of 30.11% from the company’s current price.

VOYA has been the topic of several other reports. JPMorgan Chase & Co. decreased their target price on shares of Voya Financial from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday. Evercore ISI decreased their price objective on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a report on Tuesday, December 10th. Morgan Stanley raised shares of Voya Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $76.00 to $87.00 in a report on Friday, February 28th. Royal Bank of Canada reduced their price target on shares of Voya Financial from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Piper Sandler lowered their price target on Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. One investment 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $82.83.

Voya Financial Stock Performance

Shares of Voya Financial stock traded up $0.47 on Wednesday, reaching $68.41. 174,863 shares of the stock were exchanged, compared to its average volume of 833,143. 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 firm has a market capitalization of $6.53 billion, a PE ratio of 11.19, a PEG ratio of 0.48 and a beta of 1.03. Voya Financial has a 1-year low of $64.10 and a 1-year high of $84.30. The business has a fifty day moving average price of $70.38 and a two-hundred day moving average price of $74.34.

Voya Financial (NYSE:VOYA) last released its earnings results 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%. As a group, research analysts anticipate that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Voya Financial

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Voya Financial by 15.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager’s stock worth $445,487,000 after acquiring an additional 876,399 shares during the last quarter. FMR LLC boosted its holdings in shares of Voya Financial by 10.5% during the fourth quarter. FMR LLC now owns 3,185,726 shares of the asset manager’s stock worth $219,274,000 after purchasing an additional 301,682 shares during the last quarter. Impax Asset Management Group plc grew its position in shares of Voya Financial by 277.8% in the fourth quarter. Impax Asset Management Group plc now owns 2,898,785 shares of the asset manager’s stock valued at $199,062,000 after purchasing an additional 2,131,578 shares during the period. Geode Capital Management LLC lifted its position in Voya Financial by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,685,642 shares of the asset manager’s stock worth $116,058,000 after buying an additional 23,818 shares during the period. Finally, First Trust Advisors LP boosted its stake in Voya Financial by 52.9% in the 4th quarter. First Trust Advisors LP now owns 1,437,597 shares of the asset manager’s stock worth $98,950,000 after buying an additional 497,348 shares during the last quarter. 96.10% of the stock is owned by institutional investors and hedge funds.

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.