Voya Financial’s (VOYA) “Underperform” Rating Reiterated at Bank of America

Bank of America reaffirmed their underperform rating on shares of Voya Financial (NYSE:VOYA) in a report published on Friday morning, MarketBeat.com reports. The brokerage currently has a $71.00 target price on the asset manager’s stock, down from their prior target price of $79.00.

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Voya Financial from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Barclays lowered shares of Voya Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods decreased their price target on shares of Voya Financial from $90.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Piper Sandler dropped their price objective on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Finally, Wells Fargo & Company upped their target price on shares of Voya Financial from $76.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.45.

Voya Financial Stock Performance

Voya Financial stock opened at $67.32 on Friday. Voya Financial has a 1-year low of $64.10 and a 1-year high of $84.30. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $6.43 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 0.48 and a beta of 1.03. The firm’s 50 day simple moving average is $70.45 and its 200 day simple moving average is $74.45.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share 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, analysts expect that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, February 25th were issued a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.80 annualized dividend and a dividend yield of 2.67%. Voya Financial’s dividend payout ratio is currently 29.41%.

Institutional Investors Weigh In On Voya Financial

Several institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its stake in Voya Financial by 81.0% in the 4th quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager’s stock worth $28,000 after purchasing an additional 183 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of Voya Financial by 207.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 485 shares of the asset manager’s stock worth $33,000 after buying an additional 327 shares during the period. Quarry LP purchased a new position in shares of Voya Financial in the fourth quarter worth $37,000. R Squared Ltd bought a new stake in Voya Financial during the 4th quarter valued at $41,000. Finally, Venturi Wealth Management LLC boosted its position in Voya Financial by 45.0% during the 4th quarter. Venturi Wealth Management LLC now owns 648 shares of the asset manager’s stock valued at $45,000 after buying an additional 201 shares during the period. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

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.