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

Voya Financial (NYSE:VOYA)‘s stock had its “underperform” rating reaffirmed by Bank of America in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $71.00 price target on the asset manager’s stock, down from their previous price target of $79.00. Bank of America‘s price objective would suggest a potential upside of 2.29% from the company’s previous close.

A number of other equities research analysts have also commented on the company. Wells Fargo & Company upped their target price on Voya Financial from $76.00 to $79.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Royal Bank of Canada cut their price objective on shares of Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Barclays downgraded shares of Voya Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Evercore ISI cut their price target on Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 10th. Finally, Piper Sandler decreased their price objective 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 research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Voya Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.45.

Voya Financial Price Performance

Shares of VOYA opened at $69.41 on Friday. The company has a 50 day moving average of $70.50 and a two-hundred day moving average of $74.45. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 0.48 and a beta of 1.03. The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 0.59. Voya Financial has a twelve month low of $64.10 and a twelve month high of $84.30.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results 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 return on equity of 14.10% and a net margin of 8.29%. As a group, analysts predict that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Voya Financial

Large investors have recently added to or reduced their stakes in the stock. Wealthspire Advisors LLC increased its stake in shares of Voya Financial by 5.3% during the fourth quarter. Wealthspire Advisors LLC now owns 2,967 shares of the asset manager’s stock worth $204,000 after purchasing an additional 148 shares in the last quarter. Brooklyn Investment Group increased its stake in Voya Financial by 17.0% during the 4th quarter. Brooklyn Investment Group now owns 1,166 shares of the asset manager’s stock worth $80,000 after buying an additional 169 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Voya Financial by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 3,307 shares of the asset manager’s stock valued at $228,000 after acquiring an additional 177 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of Voya Financial by 81.0% in the fourth quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 183 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Voya Financial by 13.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,532 shares of the asset manager’s stock worth $105,000 after acquiring an additional 184 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors and hedge funds.

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.