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

Voya Financial (NYSE:VOYA)‘s stock had its “underperform” rating reissued by research analysts at Bank of America in a note issued to investors on Friday, Marketbeat reports. They currently have a $71.00 price target on the asset manager’s stock, down from their prior price target of $79.00. Bank of America‘s target price would suggest a potential upside of 5.46% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley raised shares of Voya Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $76.00 to $87.00 in a research note on Friday, February 28th. Evercore ISI lowered their target price on Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a report on Tuesday, December 10th. Royal Bank of Canada cut their price target on Voya Financial from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company increased their price objective on Voya Financial from $76.00 to $79.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Piper Sandler reduced their target price on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.45.

Voya Financial Price Performance

VOYA stock opened at $67.32 on Friday. The firm has a 50 day moving average of $70.45 and a 200-day moving average of $74.45. The company 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. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59. Voya Financial has a 12-month low of $64.10 and a 12-month 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 (EPS) for the quarter, missing the consensus estimate 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, equities analysts expect that Voya Financial will post 8.39 EPS for the current fiscal year.

Institutional Trading of Voya Financial

A number of institutional investors have recently modified their holdings of VOYA. Impax Asset Management Group plc raised its holdings in Voya Financial by 277.8% in the fourth quarter. Impax Asset Management Group plc now owns 2,898,785 shares of the asset manager’s stock valued at $199,062,000 after buying an additional 2,131,578 shares during the period. Norges Bank purchased a new position in shares of Voya Financial in the 4th quarter valued at $96,508,000. Wealthfront Advisers LLC acquired a new position in shares of Voya Financial during the 4th quarter valued at $67,214,000. Bank of New York Mellon Corp lifted its holdings in shares of Voya Financial by 15.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager’s stock valued at $445,487,000 after acquiring an additional 876,399 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in Voya Financial during the 4th quarter worth $47,155,000. Hedge funds and other institutional investors 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.