Wells Fargo & Company Issues Pessimistic Forecast for Voya Financial (NYSE:VOYA) Stock Price

Voya Financial (NYSE:VOYA) had its target price decreased by Wells Fargo & Company from $79.00 to $69.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 23.01% from the company’s previous close.

VOYA has been the subject of a number of other reports. Morgan Stanley upgraded Voya Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $76.00 to $87.00 in a research note on Friday, February 28th. Piper Sandler reduced their price objective on Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Barclays lowered Voya Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods lowered their price target on shares of Voya Financial from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada cut their price objective on shares of Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $81.67.

Voya Financial Stock Performance

Shares of NYSE VOYA traded down $4.45 during trading on Thursday, reaching $56.09. The stock had a trading volume of 752,821 shares, compared to its average volume of 1,020,017. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.31 and a current ratio of 0.30. The stock has a market cap of $5.36 billion, a PE ratio of 9.17, a P/E/G ratio of 0.48 and a beta of 0.93. Voya Financial has a one year low of $52.43 and a one year high of $84.30. The firm’s 50 day moving average price is $68.51 and its two-hundred day moving average price is $73.39.

Voya Financial (NYSE:VOYA) last released its earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. On average, research analysts forecast that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VOYA. NBC Securities Inc. lifted its holdings in shares of Voya Financial by 109,775.0% during the first quarter. NBC Securities Inc. now owns 4,395 shares of the asset manager’s stock valued at $297,000 after purchasing an additional 4,391 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in Voya Financial by 5.7% during the first quarter. Fifth Third Wealth Advisors LLC now owns 4,427 shares of the asset manager’s stock valued at $300,000 after buying an additional 237 shares in the last quarter. Cascade Investment Advisors Inc. boosted its holdings in shares of Voya Financial by 26.8% in the first quarter. Cascade Investment Advisors Inc. now owns 25,625 shares of the asset manager’s stock worth $1,736,000 after buying an additional 5,420 shares during the period. GAMMA Investing LLC raised its holdings in shares of Voya Financial by 8,582.2% during the first quarter. GAMMA Investing LLC now owns 104,621 shares of the asset manager’s stock valued at $7,089,000 after acquiring an additional 103,416 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Voya Financial by 666.4% in the 1st quarter. Versant Capital Management Inc now owns 889 shares of the asset manager’s stock valued at $60,000 after acquiring an additional 773 shares in the last quarter. Institutional investors own 96.10% of the company’s stock.

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.