Royal Bank of Canada Has Lowered Expectations for Voya Financial (NYSE:VOYA) Stock Price

Voya Financial (NYSE:VOYA) had its price target reduced by Royal Bank of Canada from $95.00 to $90.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. Royal Bank of Canada’s price target suggests a potential upside of 28.26% from the stock’s previous close.

A number of other brokerages have also recently weighed in on VOYA. Piper Sandler raised their target price on shares of Voya Financial from $88.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods reduced their price objective on Voya Financial from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Tuesday. Bank of America reaffirmed a “neutral” rating and set a $83.00 target price (down from $91.00) on shares of Voya Financial in a research report on Wednesday. Wells Fargo & Company decreased their price target on Voya Financial from $92.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, UBS Group raised Voya Financial to a “strong-buy” rating in a research note on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Voya Financial presently has an average rating of “Moderate Buy” and an average price target of $85.67.

Voya Financial Price Performance

Shares of VOYA opened at $70.17 on Wednesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average of $80.61 and a 200-day moving average of $75.07. Voya Financial has a 52 week low of $63.11 and a 52 week high of $84.30. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 0.50 and a beta of 1.02.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.07. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company posted $2.07 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts forecast that Voya Financial will post 8.4 EPS for the current year.

Insider Buying and Selling at Voya Financial

In other news, insider Tony D. Oh sold 715 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total value of $58,594.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.37% of the company’s stock.

Institutional Trading of Voya Financial

A number of institutional investors have recently bought and sold shares of the company. FMR LLC raised its stake in shares of Voya Financial by 25.9% during the 3rd quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock worth $228,474,000 after purchasing an additional 592,523 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Voya Financial by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock valued at $146,234,000 after acquiring an additional 248,795 shares in the last quarter. Leeward Investments LLC MA bought a new position in Voya Financial during the third quarter valued at approximately $19,269,000. Renaissance Technologies LLC acquired a new stake in Voya Financial in the second quarter valued at approximately $13,013,000. Finally, AQR Capital Management LLC grew its position in Voya Financial by 29.6% in the second quarter. AQR Capital Management LLC now owns 651,803 shares of the asset manager’s stock worth $46,376,000 after acquiring an additional 148,810 shares in the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.

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.