Several brokerages have recently updated their ratings on Voya Financial (VOYA). Royal Bank of Canada maintained an “outperform” rating with a target price of $83. JPMorgan Chase downgraded its rating from “overweight” to “neutral” with a target price of $87. Barclays raised its target from $84 to $85 while sustaining an “overweight” rating. Raymond James changed its rating from “strong-buy” to “market perform.” Lastly, Evercore ISI increased the target price from $79 to $82 and kept an “outperform” rating. Currently, six analysts suggest holding the stock, while seven recommend buying, leading to a consensus rating of “Moderate Buy” with an average target price of $84.18.
View Our Latest Analysis on VOYA
Voya Financial Stock Performance
On Thursday, Voya Financial (NYSE: VOYA) shares rose by $0.19 to $79.42, with 86,546 shares traded, compared to an average of 818,428. The stock has a 50-day moving average of $72.15 and a 200-day moving average of $72.09. It reached a 12-month low of $63.02 and a high of $80.16. Key financial metrics include a market cap of $8 billion, a price-to-earnings ratio of 11.28, and a beta of 1.03. The current and quick ratios are both at 0.30, with a debt-to-equity ratio of 0.51.
Voya Financial reported earnings on July 30, posting $2.27 EPS for the quarter, exceeding estimates of $2.14 by $0.13. Revenue was $2.03 billion, surpassing expectations of $1.87 billion and reflecting an 8.7% increase from the previous year. Analysts forecast an EPS of 8.4 for the current fiscal year.
Institutional Investors Weigh In
Recently, several large investors adjusted their holdings in Voya Financial. Gillson Capital acquired a new position worth $11.14 million. FORA Capital increased its stake by 94.1%, owning 28,175 shares now. Empowered Funds boosted their position by 149.4%, while Capstone Investment Advisors raised theirs by 348.4%. M&G Plc increased its shareholding by 18.6%. Currently, institutional investors hold 96.10% of the stock.
Company Profile
Voya Financial, Inc provides workplace benefits and savings products in the U.S. and internationally. It operates through three segments: Wealth Solutions, Health Solutions, and Investment Management.
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