Voya Financial, Inc. (NYSE:VOYA) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday, October 17th.
Other equities analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Voya Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada upped their price objective on shares of Voya Financial from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Finally, Wells Fargo & Company restated a “buy” rating on shares of Voya Financial in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $47.60.
Voya Financial (VOYA) traded up $0.23 during trading hours on Tuesday, reaching $42.08. The company’s stock had a trading volume of 530,375 shares, compared to its average volume of 1,362,232. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $7,522.41, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 0.71 and a beta of 1.62. Voya Financial has a 12-month low of $29.80 and a 12-month high of $42.96.
Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, October 31st. The asset manager reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.39). The company had revenue of $226.50 million for the quarter, compared to analyst estimates of $322.92 million. Voya Financial had a positive return on equity of 3.92% and a negative net margin of 3.64%. During the same quarter in the prior year, the company posted ($1.24) earnings per share. equities research analysts forecast that Voya Financial will post 3.23 earnings per share for the current fiscal year.
Voya Financial announced that its board has initiated a stock buyback program on Tuesday, October 31st that permits the company to buyback $800.00 million in shares. This buyback authorization permits the asset manager to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
A number of institutional investors have recently added to or reduced their stakes in VOYA. US Bancorp DE increased its position in Voya Financial by 135.7% during the first quarter. US Bancorp DE now owns 4,625 shares of the asset manager’s stock worth $176,000 after purchasing an additional 2,663 shares during the last quarter. Comerica Bank increased its position in Voya Financial by 19.5% during the first quarter. Comerica Bank now owns 11,847 shares of the asset manager’s stock worth $446,000 after purchasing an additional 1,934 shares during the last quarter. Ameriprise Financial Inc. increased its position in Voya Financial by 61.0% during the first quarter. Ameriprise Financial Inc. now owns 175,618 shares of the asset manager’s stock worth $6,667,000 after purchasing an additional 66,555 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Voya Financial by 1.0% during the first quarter. Envestnet Asset Management Inc. now owns 12,760 shares of the asset manager’s stock worth $486,000 after purchasing an additional 126 shares during the last quarter. Finally, Stifel Financial Corp increased its position in Voya Financial by 142.3% during the first quarter. Stifel Financial Corp now owns 20,991 shares of the asset manager’s stock worth $804,000 after purchasing an additional 12,327 shares during the last quarter. Hedge funds and other institutional investors own 96.84% of the company’s stock.
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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