Wells Fargo & Company Has Lowered Expectations for Voya Financial (NYSE:VOYA) Stock Price

Voya Financial (NYSE:VOYA) had its target price cut by investment analysts at Wells Fargo & Company from $79.00 to $69.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target points to a potential upside of 22.13% from the company’s previous close.

Several other research firms also recently weighed in on VOYA. Piper Sandler cut their target price on Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Bank of America reiterated an “underperform” rating and set a $71.00 price objective (down previously from $79.00) on shares of Voya Financial in a research report on Friday, March 28th. UBS Group lowered their target price on shares of Voya Financial from $94.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley upgraded shares of Voya Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $76.00 to $87.00 in a report on Friday, February 28th. Finally, Barclays lowered shares of Voya Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $80.92.

Voya Financial Stock Performance

Shares of NYSE:VOYA opened at $56.50 on Thursday. The firm has a fifty day simple moving average of $68.02 and a two-hundred day simple moving average of $73.08. Voya Financial has a 52 week low of $52.43 and a 52 week high of $84.30. The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $5.40 billion, a P/E ratio of 9.23, a PEG ratio of 0.48 and a beta of 0.93.

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

Hedge Funds Weigh In On Voya Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings 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. SRS Capital Advisors Inc. raised its holdings in shares of Voya Financial by 207.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 485 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 327 shares in the last quarter. Quarry LP bought a new stake in shares of Voya Financial in the 4th quarter valued at about $37,000. R Squared Ltd purchased a new stake in shares of Voya Financial in the 4th quarter worth approximately $41,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Voya Financial by 45.0% during the fourth quarter. Venturi Wealth Management LLC now owns 648 shares of the asset manager’s stock valued at $45,000 after purchasing an additional 201 shares in the last quarter. 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.