RBC Capital analyst Kenneth Lee maintains $Voya Financial (VOYA.US)$ with a buy rating, and adjusts the target price from $83 to $90.
According to TipRanks data, the analyst has a success rate of 68.9% and a total average return of 17.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Voya Financial (VOYA.US)$'s main analysts recently are as follows:
The expectation is that the third quarter's global catastrophe events will result in 'manageable' catastrophe losses for property and casualty insurers. For the fourth quarter, 'placeholder' losses have been incorporated into models to account for Hurricane Milton, although there is still uncertainty given the storm's recent landfall. The changes in expectations for the group are reflective of events that transpired during the quarter as well as adjustments in P/E multiples.
The anticipation of third-quarter results for U.S. Asset Managers suggests that the sector may have witnessed an improvement in fixed income organic growth sequentially during the period. Analysis of industry data indicates a likelihood of sustained positive net flows in the fixed income space through the months of the year up to the present. With substantial market appreciation observed in the quarter, it's posited that asset managers could experience margin benefits resulting from operating leverage.
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