Banking, finance, and taxes
Analysts Issue Mixed Ratings on ING U.S. After IPO Quiet Period Expires
Published:
ING U.S. Inc. (NYSE: VOYA) has now been public for long enough that the analyst quiet period from the underwriting firms has ended. We are seeing mixed official analyst coverage, but note that Barron’s said the company is greatly undervalued compared to its peers in recent weeks.
Shares closed at $28.41 on Monday, and we have seen a post-IPO trading range of $19.20 to $29.06, so that you can get an idea of how the valuation calls are looking. Also note that the underwriting group did exercise the 9.8 million share overallotment option at the $19.50 initial public offering price.
Here are some of the analyst initiations we have seen so far on ING U.S. on Tuesday:
- Equal Weight at Barclays
- Neutral at Citigroup
- Hold at Deutsche Bank
- Equal Weight at Evercore
- Neutral at Goldman Sachs
- Neutral at J.P. Morgan
- Market Perform at Keefe Bruyette & Woods
- Equal Weight at Morgan Stanley
- Outperform at Raymond James
- Neutral at SunTrust Robinson Humphreys
- Market Perform at Wells Fargo
When Andrew Bary of Barron’s wrote his positive story in mid-May, the stock was at $24.70, and shares are now at $28.41. He said at the time that ING U.S. had an estimated book value of $41 per share and a total book value of $55 per share.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
