Voya Financial (NYSE:VOYA) Rating Lowered to Market Perform at Keefe, Bruyette & Woods

Voya Financial (NYSE:VOYA) was downgraded by research analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Friday, October 9th, Marketbeat reports. They presently have a $108.00 target price on the asset manager’s stock, down from their previous target price of $110.00. Keefe, Bruyette & Woods‘s price target would indicate a potential upside of 11.85% from the company’s previous close.

Several other brokerages have also weighed in on VOYA. Jefferies Financial Group lifted their price objective on Voya Financial from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Weiss Ratings raised Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 29th. JPMorgan Chase & Co. boosted their target price on Voya Financial from $105.00 to $109.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada boosted their target price on Voya Financial from $107.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Evercore reaffirmed an “outperform” rating and issued a $111.00 price target on shares of Voya Financial in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.69.

Voya Financial Stock Down 0.3%

Shares of VOYA traded down $0.28 during midday trading on Friday, reaching $96.56. 526,571 shares of the stock were exchanged, compared to its average volume of 1,104,326. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $98.57 and its two-hundred day moving average is $85.92. The company has a market capitalization of $8.75 billion, a P/E ratio of 16.28, a PEG ratio of 0.97 and a beta of 0.90. Voya Financial has a 52 week low of $64.50 and a 52 week high of $105.64.

Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.47). The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Voya Financial had a net margin of 7.45% and a return on equity of 12.31%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.66 earnings per share. On average, sell-side analysts anticipate that Voya Financial will post 9.17 earnings per share for the current year.

Institutional Trading of Voya Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hanseatic Management Services Inc. acquired a new position in Voya Financial during the 3rd quarter worth approximately $899,000. Signaturefd LLC increased its holdings in Voya Financial by 5.6% in the 3rd quarter. Signaturefd LLC now owns 2,351 shares of the asset manager’s stock worth $222,000 after buying an additional 124 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of Voya Financial by 84.6% during the 3rd quarter. Sterling Capital Management LLC now owns 5,122 shares of the asset manager’s stock valued at $484,000 after purchasing an additional 2,347 shares during the period. Root Financial Partners LLC purchased a new position in Voya Financial in the third quarter worth about $70,000. Finally, Vest Financial LLC increased its position in Voya Financial by 41.1% during the 3rd quarter. Vest Financial LLC now owns 73,163 shares of the asset manager’s stock valued at $6,912,000 after purchasing an additional 21,310 shares during the period. Institutional investors own 96.10% of the company’s stock.

About Voya Financial

Voya Financial, Inc is a U.S.-based financial services company that helps individuals, employers and institutions plan for retirement, manage investments and address employee benefit needs. Its businesses are organized primarily around Retirement, Employee Benefits and Investment Management.

Voya’s retirement business provides workplace retirement plans, including defined contribution and defined benefit solutions, as well as individual retirement products and advisory services. Its employee benefits operations offer products such as health, life, disability and supplemental insurance, along with benefits administration and related services for employers and their workers.

Through its investment management business, Voya provides institutional and individual investors with asset-management and advisory capabilities across a range of investment strategies.