StockNews.com Upgrades Voya Financial (NYSE:VOYA) to “Hold”

Voya Financial (NYSE:VOYA – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

A number of other analysts also recently commented on the company. The Goldman Sachs Group upgraded Voya Financial from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $81.00 to $80.00 in a research report on Friday, June 3rd. JPMorgan Chase & Co. dropped their target price on Voya Financial from $77.00 to $75.00 in a report on Monday, July 11th. Citigroup began coverage on Voya Financial in a report on Monday, May 23rd. They issued a “buy” rating and a $82.00 target price for the company. Piper Sandler dropped their target price on Voya Financial from $71.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, July 8th. Finally, Morgan Stanley increased their target price on Voya Financial from $73.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.90.

Voya Financial Price Performance

Shares of VOYA stock opened at $60.43 on Friday. The stock has a 50 day moving average of $60.80 and a two-hundred day moving average of $64.56. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.58. Voya Financial has a 12 month low of $56.20 and a 12 month high of $74.97. The company has a market capitalization of $6.17 billion, a P/E ratio of 11.36, a P/E/G ratio of 2.18 and a beta of 1.26.

Voya Financial (NYSE:VOYA – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The asset manager reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.11. Voya Financial had a return on equity of 8.92% and a net margin of 9.80%. The company had revenue of $266.00 million during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the company earned $1.03 EPS. As a group, equities analysts expect that Voya Financial will post 5.82 EPS for the current year.

Institutional Investors Weigh In On Voya Financial

Several hedge funds and other institutional investors have recently made changes to their positions in VOYA. Bank of America Corp DE increased its stake in shares of Voya Financial by 147.7% in the 1st quarter. Bank of America Corp DE now owns 975,603 shares of the asset manager’s stock valued at $64,731,000 after buying an additional 3,021,715 shares during the period. Amplius Wealth Advisors LLC boosted its position in shares of Voya Financial by 9,437,725.0% in the 1st quarter. Amplius Wealth Advisors LLC now owns 1,887,565 shares of the asset manager’s stock worth $1,888,000 after purchasing an additional 1,887,545 shares during the last quarter. BlackRock Inc. boosted its position in shares of Voya Financial by 11.4% in the 1st quarter. BlackRock Inc. now owns 13,513,603 shares of the asset manager’s stock worth $896,627,000 after purchasing an additional 1,379,316 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Voya Financial during the fourth quarter worth about $61,153,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in Voya Financial during the fourth quarter worth about $46,417,000.

About Voya Financial

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Voya Financial, Inc operates as a retirement, investment, and employee benefits company in the United States. The company's Wealth Solutions segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and services, as well as financial planning and advisory services.