Voya Financial, Inc. (VOYA) Lowered to Hold at BidaskClub
Voya Financial, Inc. (NYSE:VOYA) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
A number of other research firms have also commented on VOYA. Citigroup Inc. set a $51.00 price objective on Voya Financial and gave the stock a “buy” rating in a research note on Monday, May 8th. ValuEngine upgraded Voya Financial from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 11th. Royal Bank Of Canada restated a “buy” rating and set a $44.00 price objective on shares of Voya Financial in a research note on Wednesday, July 12th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Voya Financial in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $46.11.
Shares of Voya Financial (VOYA) remained flat at $38.90 during mid-day trading on Wednesday. 148,468 shares of the company’s stock were exchanged. Voya Financial has a 1-year low of $27.73 and a 1-year high of $42.96. The firm’s 50-day moving average is $38.28 and its 200 day moving average is $38.13. The stock’s market capitalization is $6.99 billion.
Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, August 1st. The asset manager reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.18. The firm had revenue of $272.90 million for the quarter, compared to the consensus estimate of $318.84 million. Voya Financial had a positive return on equity of 3.68% and a negative net margin of 7.67%. During the same quarter last year, the business posted $0.79 EPS. On average, analysts anticipate that Voya Financial will post $3.38 earnings per share for the current year.
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In other Voya Financial news, insider Michael S. Smith bought 5,000 shares of Voya Financial stock in a transaction on Friday, June 2nd. The shares were purchased at an average price of $35.24 per share, with a total value of $176,200.00. Following the acquisition, the insider now owns 69,142 shares in the company, valued at approximately $2,436,564.08. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kevin D. Silva sold 8,500 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $40.28, for a total value of $342,380.00. Following the completion of the sale, the insider now directly owns 5,379 shares in the company, valued at approximately $216,666.12. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake 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 valued at $404,319,000 after buying an additional 10,383,288 shares during the period. Franklin Resources Inc. increased its stake in Voya Financial by 661.4% in the first quarter. Franklin Resources Inc. now owns 9,564,564 shares of the asset manager’s stock valued at $284,740,000 after buying an additional 8,308,464 shares during the period. JPMorgan Chase & Co. increased its stake 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 valued at $167,716,000 after buying an additional 3,737,596 shares during the period. Pzena Investment Management LLC increased its stake in Voya Financial by 31.2% in the second quarter. Pzena Investment Management LLC now owns 15,175,429 shares of the asset manager’s stock valued at $375,744,000 after buying an additional 3,612,038 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in Voya Financial during the fourth quarter valued at $126,038,000.
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.
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