Voya Financial (NYSE:VOYA) Price Target Increased to $79.00 by Analysts at Jefferies Financial Group

Voya Financial (NYSE:VOYA) had its price target boosted by Jefferies Financial Group from $76.00 to $79.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the asset manager’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 10.68% from the company’s current price.

Several other research firms have also commented on VOYA. Evercore ISI raised their price target on Voya Financial from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Piper Sandler lifted their target price on Voya Financial from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Morgan Stanley decreased their target price on Voya Financial from $79.00 to $78.00 and set an “overweight” rating for the company in a report on Friday, March 1st. Finally, Wells Fargo & Company lifted their target price on Voya Financial from $91.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Voya Financial presently has a consensus rating of “Moderate Buy” and an average price target of $83.89.

Voya Financial Price Performance

NYSE VOYA traded up $0.06 during trading hours on Friday, reaching $71.38. The company’s stock had a trading volume of 179,116 shares, compared to its average volume of 839,756. The company’s 50-day moving average is $72.62 and its two-hundred day moving average is $71.55. Voya Financial has a 1-year low of $63.02 and a 1-year high of $77.00. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 10.14, a P/E/G ratio of 0.51 and a beta of 1.07. 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 posted its quarterly earnings results on Tuesday, April 30th. The asset manager reported $1.88 EPS for the quarter, beating the consensus estimate of $1.58 by $0.30. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Voya Financial had a return on equity of 16.74% and a net margin of 10.48%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.69 earnings per share. On average, equities analysts predict that Voya Financial will post 8.53 EPS for the current year.

Insider Transactions at Voya Financial

In other news, Director Yvette S. Butler sold 2,165 shares of Voya Financial stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $73.78, for a total transaction of $159,733.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Voya Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AIA Group Ltd purchased a new position in shares of Voya Financial during the fourth quarter worth about $1,717,000. TFO Wealth Partners LLC boosted its holdings in Voya Financial by 1,035,080.0% in the 4th quarter. TFO Wealth Partners LLC now owns 51,759 shares of the asset manager’s stock valued at $3,776,000 after purchasing an additional 51,754 shares in the last quarter. Crestline Management LP purchased a new stake in Voya Financial in the 4th quarter valued at approximately $1,554,000. Gillson Capital LP purchased a new stake in Voya Financial in the 4th quarter valued at approximately $11,142,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Voya Financial by 2.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 1,610,199 shares of the asset manager’s stock valued at $115,621,000 after purchasing an additional 40,000 shares in the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.

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.