Voya Financial’s (VOYA) Underperform Rating Reiterated at Bank of America

Voya Financial (NYSE:VOYA)‘s stock had its “underperform” rating restated by equities research analysts at Bank of America in a report released on Friday,Benzinga reports. They presently have a $71.00 target price on the asset manager’s stock, down from their prior target price of $79.00. Bank of America‘s target price suggests a potential upside of 2.29% from the stock’s previous close.

A number of other research firms have also recently commented on VOYA. Barclays cut Voya Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Evercore ISI lowered their price objective on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 10th. Morgan Stanley raised shares of Voya Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $76.00 to $87.00 in a report on Friday, February 28th. Royal Bank of Canada reduced their price objective on Voya Financial from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Piper Sandler cut their price target on Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Voya Financial has a consensus rating of “Moderate Buy” and a consensus target price of $82.45.

Voya Financial Price Performance

VOYA opened at $69.41 on Friday. The company’s 50-day simple moving average is $70.50 and its two-hundred day simple moving average is $74.45. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.31 and a current ratio of 0.30. The stock has a market capitalization of $6.63 billion, a P/E ratio of 11.34, a P/E/G ratio of 0.48 and a beta of 1.03. Voya Financial has a 52-week low of $64.10 and a 52-week high of $84.30.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Tuesday, February 4th. The asset manager reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. As a group, analysts predict that Voya Financial will post 8.39 EPS for the current year.

Institutional Trading of Voya Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its position in shares of Voya Financial by 25.9% during the third quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock worth $228,474,000 after acquiring an additional 592,523 shares during the period. Quantbot Technologies LP purchased a new position in Voya Financial during the third quarter valued at approximately $1,913,000. Brooklyn Investment Group bought a new position in Voya Financial in the third quarter worth approximately $79,000. BNP Paribas Financial Markets increased its holdings in shares of Voya Financial by 52.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 56,878 shares of the asset manager’s stock valued at $4,506,000 after acquiring an additional 19,654 shares during the period. Finally, Townsquare Capital LLC bought a new position in shares of Voya Financial in the 3rd quarter worth $251,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Company Profile

Voya Financial, Inc engages in the provision of workplace benefits and savings products in the United States and internationally. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees.