JPMorgan Chase & Co. Cuts Voya Financial (NYSE:VOYA) Price Target to $82.00

Voya Financial (NYSE:VOYA) had its price target decreased by JPMorgan Chase & Co. from $87.00 to $82.00 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the asset manager’s stock.

Other equities research analysts also recently issued research reports about the company. Piper Sandler decreased their target price 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. Bank of America reissued a “neutral” rating and set a $83.00 target price (down from $91.00) on shares of Voya Financial in a research report on Wednesday, December 11th. Keefe, Bruyette & Woods dropped their price target on shares of Voya Financial from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 10th. Barclays lowered their target price on Voya Financial from $85.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday, December 10th. Finally, Raymond James cut Voya Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, September 13th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $84.91.

Voya Financial Stock Down 0.3 %

VOYA opened at $68.35 on Tuesday. Voya Financial has a 1 year low of $63.11 and a 1 year high of $84.30. The firm has a 50 day moving average price of $75.82 and a 200 day moving average price of $74.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market cap of $6.58 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 0.54 and a beta of 1.05.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.07. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business earned $2.07 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Sell-side analysts expect that Voya Financial will post 8.09 earnings per share for the current year.

Voya Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Tuesday, November 26th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Tuesday, November 26th. Voya Financial’s dividend payout ratio (DPR) is presently 28.66%.

Insiders Place Their Bets

In other news, insider Tony D. Oh sold 715 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total transaction of $58,594.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in shares of Voya Financial during the third quarter worth about $29,000. UMB Bank n.a. grew its position in Voya Financial by 118.9% in the 3rd quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after purchasing an additional 239 shares during the last quarter. Quarry LP bought a new position in Voya Financial in the 2nd quarter worth about $61,000. Blue Trust Inc. increased its stake in shares of Voya Financial by 3,640.9% in the third quarter. Blue Trust Inc. now owns 823 shares of the asset manager’s stock valued at $65,000 after purchasing an additional 801 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of Voya Financial during the third quarter valued at approximately $79,000. 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.