Voya Financial (NYSE:VOYA) Receives “Neutral” Rating from Bank of America

Voya Financial (NYSE:VOYA)‘s stock had its “neutral” rating reissued by investment analysts at Bank of America in a note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $83.00 target price on the asset manager’s stock, down from their previous target price of $91.00. Bank of America‘s price target indicates a potential upside of 18.28% from the stock’s current price.

VOYA has been the topic of a number of other research reports. UBS Group upgraded shares of Voya Financial to a “strong-buy” rating in a research report on Monday, November 11th. Piper Sandler increased their price objective on shares of Voya Financial from $88.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Wells Fargo & Company reduced their target price on Voya Financial from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday. Royal Bank of Canada upped their price target on Voya Financial from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods cut their price target on Voya Financial from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Tuesday. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.67.

Voya Financial Stock Performance

Shares of Voya Financial stock opened at $70.17 on Wednesday. The business has a 50-day moving average price of $80.61 and a two-hundred day moving average price of $75.07. Voya Financial has a 1-year low of $63.11 and a 1-year high of $84.30. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54. The company has a market cap of $6.75 billion, a P/E ratio of 11.17, a PEG ratio of 0.50 and a beta of 1.02.

Voya Financial (NYSE:VOYA) last released its earnings results on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, topping the consensus estimate of $2.05 by $0.07. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the firm posted $2.07 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. As a group, analysts anticipate that Voya Financial will post 8.4 EPS for the current year.

Insiders Place Their Bets

In related news, insider Tony D. Oh sold 715 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total transaction of $58,594.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in shares of Voya Financial during the 3rd quarter worth $29,000. UMB Bank n.a. grew its position in Voya Financial by 118.9% during the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock valued at $35,000 after buying an additional 239 shares during the period. Quarry LP purchased a new stake in Voya Financial during the second quarter worth about $61,000. Blue Trust Inc. raised its position in Voya Financial by 3,640.9% in the third quarter. Blue Trust Inc. now owns 823 shares of the asset manager’s stock worth $65,000 after acquiring an additional 801 shares during the period. Finally, Brooklyn Investment Group purchased a new position in Voya Financial in the third quarter valued at about $79,000. 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.