Voya Financial (NYSE:VOYA)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a note issued to investors on Tuesday. They presently have a $59.00 target price on the asset manager’s stock. BTIG Research’s price objective suggests a potential upside of 19.26% from the company’s previous close.

The analysts wrote, “CBVA and Removal of Tail Risk = Much Higher Multiple We are reiterating our Buy recommendation on Voya Financial (VOYA) while raising our price target to $59 (from $50) based on 1.1x the company’s FY18E book value ex. accumulated other cumulative income (AOCI) of $53.27. We view VOYA’s agreement to sell its closed block variable annuity (CBVA) unit to Venerable, a newly-formed firm backed by a group of private equity firms led by Apollo, and to have its fixed annuity book reinsured by Athene Holding (ATH, Not Rated), as a game-changer for the company.””

Other analysts also recently issued research reports about the company. Deutsche Bank assumed coverage on Voya Financial in a research note on Tuesday. They issued a “buy” rating and a $59.00 price target on the stock. BidaskClub upgraded Voya Financial from a “hold” rating to a “buy” rating in a research note on Saturday, September 23rd. Royal Bank of Canada restated a “buy” rating and issued a $46.00 price target on shares of Voya Financial in a research note on Wednesday, September 6th. Evercore ISI upgraded Voya Financial to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, December 27th. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $58.00 target price on shares of Voya Financial in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $52.18.

Voya Financial (NYSE VOYA) traded down $0.66 during trading on Tuesday, hitting $49.47. The company had a trading volume of 1,672,200 shares, compared to its average volume of 1,562,947. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market cap of $8,892.08, a P/E ratio of -27.64, a P/E/G ratio of 0.92 and a beta of 1.65. Voya Financial has a 52 week low of $33.53 and a 52 week high of $52.48.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, October 31st. The asset manager reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.39). The company had revenue of $226.50 million during the quarter, compared to analysts’ expectations of $322.92 million. Voya Financial had a positive return on equity of 3.92% and a negative net margin of 3.64%. During the same quarter in the previous year, the company earned ($1.24) EPS. research analysts predict that Voya Financial will post 2.95 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of VOYA. Toronto Dominion Bank lifted its holdings in shares of Voya Financial by 7.9% during the 2nd quarter. Toronto Dominion Bank now owns 2,728 shares of the asset manager’s stock valued at $101,000 after buying an additional 199 shares during the period. Reliance Trust Co. of Delaware bought a new position in shares of Voya Financial during the 3rd quarter valued at $215,000. IFM Investors Pty Ltd bought a new position in shares of Voya Financial during the 3rd quarter valued at $254,000. Private Advisor Group LLC bought a new position in shares of Voya Financial during the 3rd quarter valued at $274,000. Finally, Stephens Inc. AR bought a new position in shares of Voya Financial during the 3rd quarter valued at $273,000. Institutional investors and hedge funds own 96.79% of the company’s stock.

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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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