Raymond James Lowers Voya Financial (NYSE:VOYA) to Market Perform

Voya Financial (NYSE:VOYA) was downgraded by analysts at Raymond James from a “strong-buy” rating to a “market perform” rating in a research note issued to investors on Friday, Briefing.com reports.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $83.00 price target on shares of Voya Financial in a research note on Wednesday, August 7th. Barclays started coverage on Voya Financial in a research note on Wednesday, September 4th. They set an “overweight” rating and a $84.00 price target for the company. Evercore ISI boosted their price objective on Voya Financial from $79.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday. Jefferies Financial Group upped their price objective on Voya Financial from $78.00 to $80.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Finally, Wells Fargo & Company lowered their target price on Voya Financial from $91.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.64.

Voya Financial Stock Performance

Shares of NYSE VOYA opened at $75.34 on Friday. Voya Financial has a 12-month low of $63.02 and a 12-month high of $76.75. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. The company has a market cap of $7.41 billion, a PE ratio of 10.70, a P/E/G ratio of 0.55 and a beta of 1.03. The stock has a 50 day simple moving average of $69.90 and a 200-day simple moving average of $70.91.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Tuesday, July 30th. The asset manager reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.13. Voya Financial had a return on equity of 16.11% and a net margin of 10.87%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the business posted $2.31 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that Voya Financial will post 8.42 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Hohimer Wealth Management LLC grew its stake in Voya Financial by 1.7% during the 1st quarter. Hohimer Wealth Management LLC now owns 8,452 shares of the asset manager’s stock valued at $625,000 after acquiring an additional 140 shares in the last quarter. SYSTM Wealth Solutions LLC boosted its holdings in shares of Voya Financial by 56.2% during the first quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock worth $31,000 after purchasing an additional 149 shares during the period. Arjuna Capital boosted its holdings in shares of Voya Financial by 0.8% during the second quarter. Arjuna Capital now owns 19,685 shares of the asset manager’s stock worth $1,401,000 after purchasing an additional 161 shares during the period. Panagora Asset Management Inc. grew its position in Voya Financial by 1.3% during the fourth quarter. Panagora Asset Management Inc. now owns 13,115 shares of the asset manager’s stock valued at $957,000 after purchasing an additional 169 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in Voya Financial by 5.3% in the 1st quarter. Blair William & Co. IL now owns 5,380 shares of the asset manager’s stock valued at $398,000 after buying an additional 272 shares during the period. 96.10% of the stock is owned by institutional investors and hedge funds.

Voya Financial Company Profile

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.