Voya Financial (NYSE:VOYA) Price Target Cut to $70.00 by Analysts at Bank of America

Voya Financial (NYSE:VOYA) had its target price lowered by analysts at Bank of America from $72.00 to $70.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “underperform” rating on the asset manager’s stock. Bank of America‘s price objective points to a potential downside of 3.39% from the stock’s current price.

VOYA has been the topic of a number of other research reports. Wells Fargo & Company dropped their price objective on shares of Voya Financial from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday. Morgan Stanley decreased their target price on shares of Voya Financial from $93.00 to $86.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Wall Street Zen lowered shares of Voya Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Keefe, Bruyette & Woods reduced their price objective on Voya Financial from $82.00 to $81.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Barclays decreased their price objective on Voya Financial from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.89.

Voya Financial Stock Performance

NYSE:VOYA traded up $0.42 during midday trading on Tuesday, reaching $72.46. 268,353 shares of the company traded hands, compared to its average volume of 1,027,588. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 0.47 and a beta of 0.86. The company has a fifty day moving average price of $70.04 and a 200 day moving average price of $72.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.27 and a quick ratio of 0.27. Voya Financial has a twelve month low of $54.48 and a twelve month high of $79.99.

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

Institutional Inflows and Outflows

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

About Voya Financial

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.