Bank of America Has Lowered Expectations for Voya Financial (NYSE:VOYA) Stock Price

Voya Financial (NYSE:VOYA) had its price objective reduced by research analysts at Bank of America from $72.00 to $70.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the asset manager’s stock. Bank of America‘s price objective would indicate a potential downside of 4.70% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings cut Voya Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 6th. Morgan Stanley cut their price objective on Voya Financial from $93.00 to $86.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Barclays cut their price objective on Voya Financial from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Wall Street Zen cut Voya Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, UBS Group cut their price objective on Voya Financial from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.89.

Voya Financial Price Performance

Shares of VOYA opened at $73.45 on Tuesday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.41. Voya Financial has a 1 year low of $54.48 and a 1 year high of $79.99. The stock has a market cap of $6.78 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 0.49 and a beta of 0.86. The stock’s 50-day moving average price is $69.99 and its two-hundred day moving average price is $72.48.

Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, February 3rd. The asset manager reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.17). Voya Financial had a return on equity of 13.96% and a net margin of 7.99%.The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the business posted $1.40 EPS. Voya Financial’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts predict that Voya Financial will post 8.39 earnings per share for the current year.

Hedge Funds Weigh In On Voya Financial

A number of large investors have recently modified their holdings of the business. Allworth Financial LP grew its holdings in shares of Voya Financial by 75.5% in the 3rd quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 151 shares in the last quarter. Trail Ridge Investment Advisors LLC grew its stake in Voya Financial by 2.0% in the third quarter. Trail Ridge Investment Advisors LLC now owns 8,317 shares of the asset manager’s stock valued at $622,000 after purchasing an additional 166 shares in the last quarter. Four Tree Island Advisory LLC grew its stake in Voya Financial by 0.5% in the fourth quarter. Four Tree Island Advisory LLC now owns 32,532 shares of the asset manager’s stock valued at $2,423,000 after purchasing an additional 174 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of Voya Financial by 4.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,520 shares of the asset manager’s stock worth $338,000 after purchasing an additional 201 shares during the last quarter. Finally, Park Avenue Securities LLC raised its stake in shares of Voya Financial by 1.5% during the 3rd quarter. Park Avenue Securities LLC now owns 14,677 shares of the asset manager’s stock worth $1,098,000 after purchasing an additional 215 shares in the last quarter. 96.10% of the stock is currently owned by institutional investors and hedge funds.

Voya Financial Company Profile

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.