Voya Financial price target lowered to $81 from $85 at Barclays

Barclays lowered the firm’s price target on Voya Financial (VOYA) to $81 from $85 and keeps an Overweight rating on the shares. The company’s loss ratio on its January 2024 policy year book is now expected to be between 90% and 105%, compared to its prior guidance of 86% as of Q3 and 81% as of Q2, the analyst tells investors in a research note. The firm says Voya’s force premiums for 2025 are expected to decline by 10%-20%, with the company aiming to achieve a 20%-24% rate increase on its January 2025 book.