Wells Fargo & Company Has Lowered Expectations for Voya Financial (NYSE:VOYA) Stock Price

Voya Financial (NYSE:VOYA) had its price target reduced by Wells Fargo & Company from $86.00 to $85.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 18.65% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. UBS Group set a $90.00 target price on shares of Voya Financial in a report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Voya Financial in a research note on Monday, December 29th. Royal Bank Of Canada increased their price objective on Voya Financial from $85.00 to $87.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Wall Street Zen downgraded Voya Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Keefe, Bruyette & Woods decreased their price target on Voya Financial from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Voya Financial currently has an average rating of “Moderate Buy” and a consensus price target of $86.67.

Voya Financial Price Performance

Shares of VOYA opened at $71.64 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.41. The stock has a market cap of $6.65 billion, a PE ratio of 11.39, a PEG ratio of 0.47 and a beta of 0.89. Voya Financial has a 12-month low of $52.43 and a 12-month high of $79.99. The business has a 50-day simple moving average of $75.28 and a two-hundred day simple moving average of $74.21.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Tuesday, February 3rd. The asset manager reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.17). Voya Financial had a net margin of 7.99% and a return on equity of 13.96%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the business posted $1.40 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Analysts anticipate that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Voya Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allworth Financial LP boosted its position in shares of Voya Financial by 75.5% during the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock valued at $26,000 after buying an additional 151 shares during the last quarter. Trail Ridge Investment Advisors LLC lifted its stake in Voya Financial by 2.0% during the 3rd quarter. Trail Ridge Investment Advisors LLC now owns 8,317 shares of the asset manager’s stock valued at $622,000 after acquiring an additional 166 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Voya Financial by 4.2% during the 2nd quarter. ProShare Advisors LLC now owns 4,269 shares of the asset manager’s stock valued at $303,000 after acquiring an additional 171 shares during the last quarter. Four Tree Island Advisory LLC grew its stake in shares of Voya Financial by 0.5% in the fourth quarter. Four Tree Island Advisory LLC now owns 32,532 shares of the asset manager’s stock worth $2,423,000 after acquiring an additional 174 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its holdings in shares of Voya Financial by 4.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 4,520 shares of the asset manager’s stock valued at $338,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 96.10% of the company’s stock.

Voya Financial Company Profile

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.