Voya Financial (NYSE:VOYA) has been given a $65.00 price objective by equities researchers at Wells Fargo & Co in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the asset manager’s stock. Wells Fargo & Co’s price objective would indicate a potential upside of 28.38% from the company’s previous close.
A number of other equities analysts have also recently weighed in on VOYA. ValuEngine raised shares of Voya Financial from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. BidaskClub cut shares of Voya Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Goldman Sachs Group assumed coverage on shares of Voya Financial in a research report on Wednesday, October 18th. They set a “buy” rating and a $46.00 price target on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and set a $55.00 price target on shares of Voya Financial in a research report on Thursday, December 21st. Finally, Sandler O’Neill raised shares of Voya Financial from a “hold” rating to a “buy” rating in a research report on Monday, November 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $52.92.
Shares of Voya Financial (VOYA) traded down $0.56 during mid-day trading on Wednesday, reaching $50.63. 2,030,983 shares of the company’s stock were exchanged, compared to its average volume of 2,426,993. Voya Financial has a 1 year low of $33.53 and a 1 year high of $54.87. The company has a market capitalization of $8,631.45, a PE ratio of -3.04, a PEG ratio of 0.61 and a beta of 1.61. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.44.
Voya Financial announced that its Board of Directors has approved a share repurchase program on Tuesday, February 13th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Large investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Voya Financial by 92.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,104 shares of the asset manager’s stock worth $103,000 after acquiring an additional 1,008 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Voya Financial during the fourth quarter worth $133,000. Toronto Dominion Bank raised its holdings in shares of Voya Financial by 7.9% during the second quarter. Toronto Dominion Bank now owns 2,728 shares of the asset manager’s stock worth $101,000 after acquiring an additional 199 shares during the period. Advisor Group Inc. raised its holdings in shares of Voya Financial by 171.6% during the fourth quarter. Advisor Group Inc. now owns 4,576 shares of the asset manager’s stock worth $226,000 after acquiring an additional 2,891 shares during the period. Finally, Eagle Global Advisors LLC acquired a new stake in shares of Voya Financial during the fourth quarter worth $247,000. Institutional investors and hedge funds own 96.18% of the company’s stock.
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Voya Financial Company Profile
Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.
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