Voya Financial, Inc. (NYSE:VOYA) Cut to “Buy” at ValuEngine
Voya Financial, Inc. (NYSE:VOYA) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Monday.
A number of other equities analysts have also recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $50.00 price objective on shares of Voya Financial in a report on Monday, April 10th. Citigroup Inc. set a $51.00 price objective on Voya Financial and gave the stock a “buy” rating in a report on Monday, May 8th. BidaskClub cut Voya Financial from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Royal Bank Of Canada reissued a “buy” rating and issued a $44.00 target price on shares of Voya Financial in a research note on Wednesday, July 12th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of Voya Financial in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $46.11.
Voya Financial (NYSE:VOYA) traded down 0.42% during trading on Monday, reaching $40.73. The company’s stock had a trading volume of 1,000,461 shares. The company’s market cap is $7.57 billion. Voya Financial has a 52-week low of $26.61 and a 52-week high of $42.96. The stock has a 50-day moving average price of $37.36 and a 200 day moving average price of $38.14.
Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by $0.18. Voya Financial had a positive return on equity of 3.68% and a negative net margin of 7.67%. The firm had revenue of $272.90 million during the quarter, compared to analysts’ expectations of $318.84 million. During the same quarter in the previous year, the company posted $0.79 earnings per share. On average, analysts expect that Voya Financial will post $3.38 EPS for the current year.
In other Voya Financial news, insider Kevin D. Silva sold 8,500 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $40.28, for a total transaction of $342,380.00. Following the completion of the transaction, the insider now owns 5,379 shares of the company’s stock, valued at approximately $216,666.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Rodney O. Martin, Jr. purchased 8,475 shares of the stock in a transaction on Friday, June 2nd. The shares were acquired at an average cost of $35.29 per share, with a total value of $299,082.75. Following the transaction, the chairman now directly owns 114,221 shares in the company, valued at $4,030,859.09. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VOYA. BlackRock Inc. raised its position in Voya Financial by 3,875.4% in the first quarter. BlackRock Inc. now owns 10,651,213 shares of the asset manager’s stock worth $404,319,000 after buying an additional 10,383,288 shares during the last quarter. JPMorgan Chase & Co. raised its position in Voya Financial by 549.1% in the first quarter. JPMorgan Chase & Co. now owns 4,418,219 shares of the asset manager’s stock worth $167,716,000 after buying an additional 3,737,596 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Voya Financial by 88.8% in the first quarter. UBS Asset Management Americas Inc. now owns 2,524,796 shares of the asset manager’s stock worth $95,841,000 after buying an additional 1,187,263 shares during the last quarter. Bank of America Corp DE raised its position in Voya Financial by 87.9% in the first quarter. Bank of America Corp DE now owns 2,042,884 shares of the asset manager’s stock worth $77,548,000 after buying an additional 955,465 shares during the last quarter. Finally, Morgan Stanley raised its position in Voya Financial by 242.0% in the first quarter. Morgan Stanley now owns 1,166,943 shares of the asset manager’s stock worth $44,296,000 after buying an additional 825,737 shares during the last quarter.
About Voya Financial
Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Voya Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Voya Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.