JPMorgan Chase & Co. Has Lowered Expectations for Voya Financial (NYSE:VOYA) Stock Price

Voya Financial (NYSE:VOYA) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $87.00 to $82.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 19.10% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company lowered their price objective on shares of Voya Financial from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, December 10th. Piper Sandler lowered their price objective on Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Barclays dropped their target price on Voya Financial from $85.00 to $81.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 10th. Evercore ISI cut their price target on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a report on Tuesday, December 10th. Finally, UBS Group raised Voya Financial to a “strong-buy” rating in a research note on Monday, November 11th. Six 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.67.

Voya Financial Stock Up 0.4 %

Shares of VOYA traded up $0.27 during trading hours on Tuesday, hitting $68.85. The company had a trading volume of 171,531 shares, compared to its average volume of 519,871. Voya Financial has a one year low of $63.11 and a one year high of $84.30. The company’s fifty day moving average price is $76.30 and its two-hundred day moving average price is $74.46. The company has a market capitalization of $6.62 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 0.54 and a beta of 1.05. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, beating 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 business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm posted $2.07 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that Voya Financial will post 8.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Voya Financial

Several large investors have recently bought and sold shares of VOYA. Victory Capital Management Inc. boosted its stake in Voya Financial by 2.3% in the second quarter. Victory Capital Management Inc. now owns 282,034 shares of the asset manager’s stock valued at $20,067,000 after acquiring an additional 6,296 shares in the last quarter. Caprock Group LLC purchased a new position in Voya Financial in the 2nd quarter valued at about $397,000. Oak Thistle LLC purchased a new stake in shares of Voya Financial in the second quarter valued at $289,000. Royal London Asset Management Ltd. raised its stake in Voya Financial by 1.3% during the second quarter. Royal London Asset Management Ltd. now owns 58,259 shares of the asset manager’s stock worth $4,145,000 after purchasing an additional 760 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Voya Financial by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 42,206 shares of the asset manager’s stock worth $3,003,000 after purchasing an additional 1,750 shares during the period. Hedge funds and other 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.