UBS Group Raises Voya Financial (NYSE:VOYA) Price Target to $59.00

Voya Financial (NYSE:VOYA) had its target price increased by equities researchers at UBS Group from $57.00 to $59.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the asset manager’s stock.

VOYA has been the subject of a number of other reports. Royal Bank of Canada set a $60.00 price objective on Voya Financial and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Morgan Stanley set a $63.00 price objective on Voya Financial and gave the stock a “buy” rating in a research report on Friday, September 13th. Citigroup lowered their price objective on Voya Financial from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Finally, ValuEngine lowered Voya Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. Voya Financial presently has a consensus rating of “Buy” and a consensus target price of $59.43.

The company has a market capitalization of $7.29 billion, a PE ratio of 9.90, a PEG ratio of 0.50 and a beta of 1.51. The firm’s 50-day moving average is $52.08 and its two-hundred day moving average is $53.22. Voya Financial has a twelve month low of $36.66 and a twelve month high of $57.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.17 and a current ratio of 0.17.

Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, August 6th. The asset manager reported $1.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.05. Voya Financial had a return on equity of 8.47% and a net margin of 6.16%. The company had revenue of $278.00 million during the quarter, compared to analyst estimates of $314.19 million. During the same period last year, the company posted $1.13 earnings per share. Equities analysts forecast that Voya Financial will post 5.5 EPS for the current year.

In related news, Director Byron H. Pollitt, Jr. bought 1,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $49.30 per share, for a total transaction of $49,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.69% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in VOYA. Patriot Financial Group Insurance Agency LLC lifted its stake in Voya Financial by 2,380.0% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 496 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 476 shares in the last quarter. Hexavest Inc. acquired a new position in shares of Voya Financial during the 2nd quarter worth approximately $30,000. Doyle Wealth Management acquired a new position in shares of Voya Financial during the 2nd quarter worth approximately $42,000. US Bancorp DE increased its position in shares of Voya Financial by 18.5% during the 2nd quarter. US Bancorp DE now owns 1,438 shares of the asset manager’s stock worth $79,000 after purchasing an additional 224 shares during the last quarter. Finally, Cerebellum GP LLC acquired a new position in shares of Voya Financial during the 1st quarter worth approximately $176,000.

About Voya Financial

Voya Financial, Inc operates as a retirement, investment, and employee benefits company in the United States. It operates through four segments: Retirement, Investment Management, Employee Benefits, and Individual Life. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and financial services, as well as financial planning and advisory services.

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