Royal Bank of Canada Has Lowered Expectations for Voya Financial (NYSE:VOYA) Stock Price

Voya Financial (NYSE:VOYA) had its price objective dropped by equities research analysts at Royal Bank of Canada from $90.00 to $85.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 24.49% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Bank of America reissued a “neutral” rating and set a $83.00 price target (down previously from $91.00) on shares of Voya Financial in a research report on Wednesday, December 11th. Keefe, Bruyette & Woods dropped their target price on shares of Voya Financial from $92.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Piper Sandler cut their price target on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. JPMorgan Chase & Co. decreased their price objective on shares of Voya Financial from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, UBS Group raised shares of Voya Financial to a “strong-buy” rating in a research note on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.27.

Voya Financial Trading Down 0.9 %

NYSE VOYA opened at $68.28 on Monday. The company has a 50-day moving average of $71.46 and a 200-day moving average of $74.11. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.31 and a quick ratio of 0.31. Voya Financial has a 12 month low of $63.11 and a 12 month high of $84.30. The company has a market cap of $6.57 billion, a P/E ratio of 10.87, a P/E/G ratio of 0.49 and a beta of 1.05.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.65). Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. As a group, equities analysts predict that Voya Financial will post 7.11 earnings per share for the current year.

Institutional Investors Weigh In On Voya Financial

Institutional investors have recently made changes to their positions in the company. Illinois Municipal Retirement Fund boosted its holdings in shares of Voya Financial by 21.1% in the 4th quarter. Illinois Municipal Retirement Fund now owns 46,073 shares of the asset manager’s stock valued at $3,171,000 after buying an additional 8,013 shares during the period. Bank of New York Mellon Corp boosted its stake in Voya Financial by 15.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager’s stock valued at $445,487,000 after acquiring an additional 876,399 shares during the period. Impax Asset Management Group plc grew its holdings in shares of Voya Financial by 277.8% during the fourth quarter. Impax Asset Management Group plc now owns 2,898,785 shares of the asset manager’s stock valued at $199,062,000 after purchasing an additional 2,131,578 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Voya Financial during the 4th quarter worth approximately $3,485,000. Finally, Wealthspire Advisors LLC lifted its holdings in shares of Voya Financial by 5.3% in the 4th quarter. Wealthspire Advisors LLC now owns 2,967 shares of the asset manager’s stock worth $204,000 after purchasing an additional 148 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors.

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.