Voya Financial, Inc. (NYSE:VOYA) received a $50.00 price target from equities research analysts at Wells Fargo & Company in a report issued on Tuesday. The brokerage presently has a “buy” rating on the asset manager’s stock. Wells Fargo & Company’s target price suggests a potential upside of 24.50% from the stock’s current price.

The analysts wrote, “We expect VOYA shares will react positively to the stronger-than- expected underlying earnings.””

Other analysts have also issued reports about the company. BidaskClub upgraded Voya Financial from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 9th. Royal Bank Of Canada reissued an “outperform” rating and set a $46.00 price target (up previously from $44.00) on shares of Voya Financial in a research report on Wednesday, August 9th. ValuEngine downgraded Voya Financial from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 7th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on Voya Financial in a research report on Wednesday, October 18th. They set a “buy” rating and a $46.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $47.20.

Shares of Voya Financial (VOYA) opened at 40.16 on Tuesday. The stock’s 50 day moving average price is $39.66 and its 200 day moving average price is $37.81. Voya Financial has a one year low of $28.96 and a one year high of $42.96. The stock’s market capitalization is $7.22 billion.

Voya Financial (NYSE:VOYA) last posted its earnings results on Tuesday, October 31st. The asset manager reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.39). Voya Financial had a positive return on equity of 3.68% and a negative net margin of 7.67%. During the same period in the prior year, the business earned ($1.24) EPS. On average, analysts forecast that Voya Financial will post $3.35 EPS for the current year.

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In other news, insider Kevin D. Silva sold 8,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $40.28, for a total transaction of $342,380.00. Following the completion of the sale, the insider now owns 5,379 shares in the company, valued at approximately $216,666.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.24% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System grew its stake in Voya Financial by 1.8% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 242,346 shares of the asset manager’s stock valued at $9,667,000 after buying an additional 4,220 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new position in Voya Financial in the 3rd quarter valued at approximately $5,092,000. Canada Pension Plan Investment Board grew its stake in Voya Financial by 0.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 448,346 shares of the asset manager’s stock valued at $17,885,000 after buying an additional 2,600 shares in the last quarter. Honeywell International Inc. grew its stake in Voya Financial by 50.0% in the 3rd quarter. Honeywell International Inc. now owns 826,000 shares of the asset manager’s stock valued at $32,949,000 after buying an additional 275,400 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in Voya Financial by 14.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 800,000 shares of the asset manager’s stock valued at $31,912,000 after buying an additional 100,000 shares in the last quarter. Institutional investors and hedge funds own 96.61% of the company’s stock.

About Voya Financial

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.

Analyst Recommendations for Voya Financial (NYSE:VOYA)

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