UBS Group Upgrades Voya Financial (NYSE:VOYA) to “Strong-Buy”

Voya Financial (NYSE:VOYA) was upgraded by equities researchers at UBS Group to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Bank of America raised their target price on shares of Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays boosted their price objective on shares of Voya Financial from $84.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Jefferies Financial Group increased their target price on Voya Financial from $78.00 to $80.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. lowered Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price target on the stock. in a report on Thursday, October 3rd. Finally, Piper Sandler increased their price objective on Voya Financial from $88.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $86.00.

Voya Financial Price Performance

Voya Financial stock opened at $83.32 on Monday. The firm has a market capitalization of $8.02 billion, a P/E ratio of 13.27, a PEG ratio of 0.59 and a beta of 1.03. The business has a 50-day moving average of $78.66 and a 200-day moving average of $73.94. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54. Voya Financial has a 1 year low of $63.11 and a 1 year high of $84.30.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.07. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $2.07 earnings per share. On average, equities analysts anticipate that Voya Financial will post 8.21 EPS for the current year.

Insider Transactions at Voya Financial

In other Voya Financial news, insider Tony D. Oh sold 715 shares of Voya Financial stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total transaction of $58,594.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Voya Financial

A number of large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Voya Financial in the 3rd quarter valued at $29,000. UMB Bank n.a. increased its holdings in shares of Voya Financial by 118.9% during the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after purchasing an additional 239 shares during the period. Quarry LP acquired a new position in Voya Financial in the 2nd quarter valued at $61,000. Allspring Global Investments Holdings LLC lifted its position in shares of Voya Financial by 6,850.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock valued at $62,000 after acquiring an additional 822 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Voya Financial by 3,640.9% during the 3rd quarter. Blue Trust Inc. now owns 823 shares of the asset manager’s stock worth $65,000 after purchasing an additional 801 shares in the last quarter. 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.