Morgan Stanley Lowers Voya Financial (NYSE:VOYA) Price Target to $75.00

Voya Financial (NYSE:VOYA) had its price target decreased by analysts at Morgan Stanley from $76.00 to $75.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price would suggest a potential upside of 10.12% from the company’s previous close.

VOYA has been the topic of a number of other research reports. Wells Fargo & Company lowered their price target on shares of Voya Financial from $91.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Jefferies Financial Group upped their price objective on shares of Voya Financial from $78.00 to $80.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. decreased their price target on shares of Voya Financial from $88.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Bank of America increased their price target on shares of Voya Financial from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Citigroup raised their target price on shares of Voya Financial from $86.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Voya Financial presently has an average rating of “Moderate Buy” and a consensus price target of $83.40.

Voya Financial Stock Performance

Shares of NYSE VOYA traded up $0.42 during midday trading on Monday, reaching $68.11. The company’s stock had a trading volume of 86,432 shares, compared to its average volume of 824,952. Voya Financial has a 12-month low of $63.02 and a 12-month high of $76.75. The firm has a 50 day moving average price of $70.72 and a 200-day moving average price of $70.87. The stock has a market capitalization of $6.70 billion, a P/E ratio of 9.67, a PEG ratio of 0.46 and a beta of 1.05. 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) last announced its earnings results on Tuesday, July 30th. The asset manager reported $2.27 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the business earned $2.31 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts predict that Voya Financial will post 8.48 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Yvette S. Butler sold 2,165 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $73.78, for a total value of $159,733.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in Voya Financial in the 2nd quarter valued at $61,000. Northwestern Mutual Wealth Management Co. increased its holdings in Voya Financial by 114.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,494 shares of the asset manager’s stock valued at $604,000 after acquiring an additional 4,540 shares during the last quarter. Creative Planning increased its holdings in Voya Financial by 15.3% in the 2nd quarter. Creative Planning now owns 7,216 shares of the asset manager’s stock valued at $513,000 after acquiring an additional 958 shares during the last quarter. Algert Global LLC purchased a new position in shares of Voya Financial in the 2nd quarter worth $2,863,000. Finally, AQR Capital Management LLC grew its stake in shares of Voya Financial by 29.6% in the 2nd quarter. AQR Capital Management LLC now owns 651,803 shares of the asset manager’s stock worth $46,376,000 after buying an additional 148,810 shares in the last quarter. 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.