Voya Financial (NYSE:VOYA) Price Target Lowered to $69.00 at Wells Fargo & Company

Voya Financial (NYSE:VOYA) had its target price reduced by equities researchers at Wells Fargo & Company from $79.00 to $69.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 23.01% from the stock’s previous close.

Several other brokerages also recently commented on VOYA. Royal Bank of Canada lowered their price target on Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Piper Sandler reduced their target price on Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Bank of America restated an “underperform” rating and issued a $71.00 price objective (down previously from $79.00) on shares of Voya Financial in a research note on Friday, March 28th. JPMorgan Chase & Co. decreased their target price on shares of Voya Financial from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group reduced their target price on shares of Voya Financial from $94.00 to $89.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $81.67.

Voya Financial Stock Down 7.3 %

NYSE VOYA traded down $4.45 on Thursday, reaching $56.09. The stock had a trading volume of 752,821 shares, compared to its average volume of 1,020,017. Voya Financial has a 1 year low of $52.43 and a 1 year high of $84.30. The business has a 50 day moving average price of $68.51 and a 200 day moving average price of $73.39. 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 company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 0.48 and a beta of 0.93.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings data 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 net margin of 8.29% and a return on equity of 14.10%. On average, analysts forecast that Voya Financial will post 8.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Voya Financial

A number of institutional investors and hedge funds have recently made changes to their positions in VOYA. Impax Asset Management Group plc raised its holdings in Voya Financial by 277.8% during the 4th quarter. Impax Asset Management Group plc now owns 2,898,785 shares of the asset manager’s stock worth $199,062,000 after purchasing an additional 2,131,578 shares during the last quarter. Norges Bank acquired a new stake in shares of Voya Financial during the 4th quarter worth approximately $96,508,000. Wealthfront Advisers LLC bought a new stake in shares of Voya Financial during the fourth quarter worth approximately $67,214,000. Bank of New York Mellon Corp lifted its holdings in Voya Financial by 15.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager’s stock valued at $445,487,000 after buying an additional 876,399 shares during the period. Finally, Hennessy Advisors Inc. bought a new position in Voya Financial in the fourth quarter valued at approximately $47,155,000. 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.