Citigroup Initiates Coverage on Voya Financial (NYSE:VOYA)

Equities research analysts at Citigroup initiated coverage on shares of Voya Financial (NYSE:VOYAGet Rating) in a research report issued to clients and investors on Monday, The Fly reports. The firm set a “buy” rating on the asset manager’s stock.

Several other brokerages have also weighed in on VOYA. StockNews.com started coverage on Voya Financial in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. TheStreet raised Voya Financial from a “c” rating to a “b” rating in a research report on Monday, May 9th. Jefferies Financial Group started coverage on Voya Financial in a research report on Tuesday, January 25th. They issued a “hold” rating and a $75.00 target price on the stock. Finally, Piper Sandler dropped their target price on Voya Financial from $74.00 to $72.00 in a research report on Wednesday, April 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Voya Financial has a consensus rating of “Hold” and an average price target of $77.56.

Shares of VOYA stock traded up $2.00 on Monday, reaching $64.96. 49,644 shares of the company’s stock traded hands, compared to its average volume of 1,318,562. Voya Financial has a 12-month low of $58.97 and a 12-month high of $74.97. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $6.64 billion, a P/E ratio of 7.85, a price-to-earnings-growth ratio of 3.26 and a beta of 1.31. The business’s 50 day moving average price is $65.60 and its two-hundred day moving average price is $66.58.

Voya Financial (NYSE:VOYAGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The asset manager reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. Voya Financial had a return on equity of 9.16% and a net margin of 13.67%. During the same quarter in the prior year, the business earned $1.03 EPS. Research analysts predict that Voya Financial will post 6.3 earnings per share for the current year.

In other Voya Financial news, insider Robert L. Grubka sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $68.50, for a total value of $171,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.44% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Voya Financial by 11.4% in the 1st quarter. BlackRock Inc. now owns 13,513,603 shares of the asset manager’s stock worth $896,627,000 after acquiring an additional 1,379,316 shares during the period. Wellington Management Group LLP raised its holdings in shares of Voya Financial by 7.5% in the 1st quarter. Wellington Management Group LLP now owns 7,488,929 shares of the asset manager’s stock worth $496,890,000 after buying an additional 519,701 shares in the last quarter. Pzena Investment Management LLC raised its holdings in shares of Voya Financial by 0.9% in the 4th quarter. Pzena Investment Management LLC now owns 4,851,903 shares of the asset manager’s stock worth $321,730,000 after buying an additional 41,814 shares in the last quarter. Samlyn Capital LLC raised its holdings in shares of Voya Financial by 10.5% in the 4th quarter. Samlyn Capital LLC now owns 4,571,240 shares of the asset manager’s stock worth $303,119,000 after buying an additional 435,079 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Voya Financial by 1.3% in the 4th quarter. State Street Corp now owns 3,528,088 shares of the asset manager’s stock worth $233,948,000 after buying an additional 43,938 shares in the last quarter.

Voya Financial Company Profile (Get Rating)

Voya Financial, Inc operates as a retirement, investment, and employee benefits company in the United States. The company's Wealth Solutions segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and services, as well as financial planning and advisory services.

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