Voya Financial (NYSE:VOYA) Upgraded by Morgan Stanley to Overweight Rating

Voya Financial (NYSE:VOYA) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports. The firm currently has a $87.00 price objective on the asset manager’s stock, up from their prior price objective of $76.00. Morgan Stanley’s price objective indicates a potential upside of 23.41% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Evercore ISI cut their price target on Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a research note on Tuesday, December 10th. Piper Sandler dropped their price objective on Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. UBS Group raised shares of Voya Financial to a “strong-buy” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods lowered their target price on shares of Voya Financial from $90.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Finally, Wells Fargo & Company boosted their price target on shares of Voya Financial from $76.00 to $79.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.55.

Voya Financial Price Performance

Voya Financial stock opened at $70.50 on Friday. The firm has a market cap of $6.73 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.48 and a beta of 1.05. The stock’s 50 day moving average is $70.35 and its 200 day moving average is $74.40. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.30 and a quick ratio of 0.31. Voya Financial has a one year low of $64.10 and a one year high of $84.30.

Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.65). Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. As a group, research analysts expect that Voya Financial will post 8.39 EPS for the current year.

Institutional Investors Weigh In On Voya Financial

Large investors have recently added to or reduced their stakes in the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in shares of Voya Financial by 420.8% in the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 64,398 shares of the asset manager’s stock worth $4,812,000 after purchasing an additional 52,032 shares during the last quarter. KBC Group NV increased its holdings in shares of Voya Financial by 260.5% in the 4th quarter. KBC Group NV now owns 9,384 shares of the asset manager’s stock worth $646,000 after buying an additional 6,781 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Voya Financial during the 4th quarter valued at $47,155,000. Barclays PLC lifted its holdings in shares of Voya Financial by 48.2% during the 3rd quarter. Barclays PLC now owns 48,890 shares of the asset manager’s stock worth $3,872,000 after acquiring an additional 15,902 shares during the last quarter. Finally, Miracle Mile Advisors LLC purchased a new position in Voya Financial in the fourth quarter worth $1,379,000. Institutional investors 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.