Voya Financial (NYSE:VOYA) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Voya Financial (NYSE:VOYA) had its target price reduced by JPMorgan Chase & Co. from $109.00 to $105.00 in a research note released on Thursday morning,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Several other equities analysts have also recently weighed in on the company. Wells Fargo & Company lowered their price target on Voya Financial from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Monday, October 12th. Weiss Ratings raised Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 29th. TD Cowen upped their price objective on Voya Financial from $112.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. UBS Group upped their price objective on Voya Financial from $125.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $108.00 target price (down from $110.00) on shares of Voya Financial in a report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.69.

Voya Financial Stock Down 1.3%

VOYA opened at $93.92 on Thursday. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 0.94 and a beta of 0.90. The firm has a 50 day moving average price of $99.21 and a 200-day moving average price of $90.72. Voya Financial has a twelve month low of $64.50 and a twelve month high of $105.64. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.51.

Voya Financial (NYSE:VOYA) last posted its earnings results on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.47). Voya Financial had a return on equity of 12.31% and a net margin of 7.45%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the firm posted $1.66 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities research analysts forecast that Voya Financial will post 9.21 earnings per share for the current year.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Wednesday, August 26th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, August 26th. Voya Financial’s payout ratio is 31.70%.

Institutional Trading of Voya Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VOYA. Danske Bank A S purchased a new position in shares of Voya Financial during the 2nd quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Voya Financial in the 2nd quarter worth $48,000. Root Financial Partners LLC increased its stake in shares of Voya Financial by 59.6% in the 1st quarter. Root Financial Partners LLC now owns 573 shares of the asset manager’s stock worth $39,000 after purchasing an additional 214 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Voya Financial by 29.6% in the 3rd quarter. Versant Capital Management Inc now owns 696 shares of the asset manager’s stock worth $66,000 after purchasing an additional 159 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Voya Financial in the 2nd quarter worth $84,000. 96.10% of the stock is owned by hedge funds and other institutional investors.

Voya Financial Company Profile

Voya Financial, Inc is a financial services company that helps individuals, employers and institutions plan, invest and prepare for retirement. The company operates primarily in the United States and focuses on retirement plans, employee benefits and investment management.

Voya’s retirement business provides workplace retirement plans and related services, including plan administration, participant education and advice. Its employee benefits business offers products and services such as group life insurance, disability insurance, supplemental health benefits and health savings account solutions.

Through its investment management operations, Voya serves institutional and individual investors with investment strategies across public and private markets.