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

Voya Financial (NYSE:VOYA)‘s stock had its “neutral” rating restated by Bank of America in a research note issued to investors on Wednesday, MarketBeat reports. They currently have a $83.00 price objective on the asset manager’s stock, down from their prior price objective of $91.00. Bank of America‘s price objective suggests a potential upside of 18.28% from the company’s current price.

A number of other research analysts also recently commented on VOYA. Royal Bank of Canada boosted their price target on Voya Financial from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Morgan Stanley dropped their target price on shares of Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Evercore ISI cut their price target on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a report on Tuesday. Piper Sandler lifted their price objective on shares of Voya Financial from $88.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Voya Financial from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.67.

Voya Financial Stock Performance

Shares of NYSE:VOYA opened at $70.17 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.54. Voya Financial has a 12-month low of $63.11 and a 12-month high of $84.30. The company’s 50 day moving average price is $80.61 and its two-hundred day moving average price is $75.07. The firm has a market cap of $6.75 billion, a PE ratio of 11.17, a PEG ratio of 0.50 and a beta of 1.02.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.07. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.86 billion. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $2.07 EPS. Equities research analysts predict that Voya Financial will post 8.4 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Tony D. Oh sold 715 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total value of $58,594.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Voya Financial

A number of institutional investors have recently added to or reduced their stakes in the business. CWM LLC raised its stake in shares of Voya Financial by 97.7% during the second quarter. CWM LLC now owns 2,456 shares of the asset manager’s stock valued at $175,000 after acquiring an additional 1,214 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Voya Financial in the second quarter valued at $196,000. Wealth Enhancement Advisory Services LLC raised its position in Voya Financial by 15.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,496 shares of the asset manager’s stock worth $818,000 after purchasing an additional 1,533 shares during the last quarter. Portman Square Capital LLP lifted its holdings in Voya Financial by 103.5% during the 2nd quarter. Portman Square Capital LLP now owns 3,503 shares of the asset manager’s stock worth $249,000 after buying an additional 103,903 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its position in shares of Voya Financial by 68.6% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 6,518 shares of the asset manager’s stock valued at $464,000 after buying an additional 2,653 shares during the last quarter. 96.10% of the stock is owned by institutional investors.

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.