Citigroup Raises Voya Financial (NYSE:VOYA) Price Target to $91.00

Voya Financial (NYSE:VOYA) had its price target raised by Citigroup from $86.00 to $91.00 in a research note published on Tuesday morning, Benzinga reports. Citigroup currently has a buy rating on the asset manager’s stock.

Several other equities research analysts also recently weighed in on the stock. Jefferies Financial Group increased their target price on shares of Voya Financial from $78.00 to $80.00 and gave the stock a hold rating in a research note on Thursday, July 18th. Evercore ISI increased their target price on shares of Voya Financial from $79.00 to $80.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. Piper Sandler increased their target price on shares of Voya Financial from $78.00 to $86.00 and gave the stock an overweight rating in a research note on Friday, April 5th. Bank of America increased their target price 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, Wells Fargo & Company raised their price objective on shares of Voya Financial from $91.00 to $92.00 and gave the company an overweight rating in a research report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $84.30.

Voya Financial Stock Performance

Shares of VOYA stock opened at $72.31 on Tuesday. The stock’s 50-day moving average is $72.83 and its two-hundred day moving average is $71.26. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 0.52 and a beta of 1.05. Voya Financial has a 1 year low of $63.02 and a 1 year high of $77.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.30.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Tuesday, April 30th. The asset manager reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.30. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.80 billion. Voya Financial had a return on equity of 16.74% and a net margin of 10.48%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.69 earnings per share. Analysts predict that Voya Financial will post 8.42 earnings per share for the current year.

Insider Activity

In other news, Director Yvette S. Butler sold 2,165 shares of Voya Financial stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $73.78, for a total transaction of $159,733.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Voya Financial by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 11,067,291 shares of the asset manager’s stock worth $818,094,000 after purchasing an additional 644,216 shares in the last quarter. Boston Partners increased its stake in shares of Voya Financial by 83.8% during the 1st quarter. Boston Partners now owns 2,525,604 shares of the asset manager’s stock worth $186,310,000 after purchasing an additional 1,151,822 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Voya Financial by 1,020.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,368,185 shares of the asset manager’s stock worth $175,057,000 after purchasing an additional 2,156,773 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Voya Financial by 2.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 1,610,199 shares of the asset manager’s stock worth $115,621,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Voya Financial during the 4th quarter worth approximately $80,749,000. 96.10% of the stock is owned by hedge funds and other 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.