Voya Financial (NYSE:VOYA) Earns Underperform Rating from Bank of America

Voya Financial (NYSE:VOYA)‘s stock had its “underperform” rating reissued by equities researchers at Bank of America in a report issued on Friday, Marketbeat Ratings reports. They currently have a $71.00 price objective on the asset manager’s stock, down from their prior price objective of $79.00. Bank of America‘s price target indicates a potential upside of 5.46% from the company’s current price.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods cut their price target on Voya Financial from $90.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Piper Sandler dropped their target price on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. JPMorgan Chase & Co. cut their price target on Voya Financial from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Wells Fargo & Company raised their target price on Voya Financial from $76.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Evercore ISI lowered their price target on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Voya Financial presently has an average rating of “Moderate Buy” and a consensus target price of $82.45.

Voya Financial Stock Performance

VOYA stock opened at $67.32 on Friday. The firm has a 50-day simple moving average of $70.45 and a two-hundred day simple moving average of $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. Voya Financial has a one year low of $64.10 and a one year high of $84.30. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 0.48 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Tuesday, February 4th. The asset manager reported $1.50 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. On average, equities analysts forecast that Voya Financial will post 8.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Voya Financial

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

About Voya Financial

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.