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

Voya Financial (NYSE:VOYA - Get Free Report) had its price target lowered by research analysts at JPMorgan Chase & Co. from $87.00 to $82.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the asset manager's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 19.48% from the company's current price.

Several other research analysts have also weighed in on the company. Keefe, Bruyette & Woods reduced their target price on Voya Financial from $95.00 to $92.00 and set an "outperform" rating on the stock in a report on Tuesday, December 10th. Bank of America reaffirmed a "neutral" rating and set a $83.00 price target (down previously from $91.00) on shares of Voya Financial in a report on Wednesday, December 11th. Raymond James lowered Voya Financial from a "strong-buy" rating to a "market perform" rating in a research note on Friday, September 13th. Piper Sandler dropped their price objective on shares of Voya Financial from $91.00 to $84.00 and set an "overweight" rating for the company in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company decreased their target price on shares of Voya Financial from $92.00 to $87.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Voya Financial has an average rating of "Moderate Buy" and an average target price of $84.67.

Voya Financial Price Performance

Shares of VOYA stock traded up $0.05 during mid-day trading on Tuesday, reaching $68.63. The company's stock had a trading volume of 492,333 shares, compared to its average volume of 601,758. The firm's 50-day moving average is $76.30 and its two-hundred day moving average is $74.46. The company has a market cap of $6.60 billion, a P/E ratio of 10.93, a PEG ratio of 0.54 and a beta of 1.05. Voya Financial has a 1-year low of $63.11 and a 1-year high of $84.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.31 and a current ratio of 0.31.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.07. The firm had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.86 billion. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.07 earnings per share. On average, research analysts predict that Voya Financial will post 8.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Tony D. Oh sold 715 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total value of $58,594.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Voya Financial

Several institutional investors and hedge funds have recently made changes to their positions in VOYA. Barclays PLC boosted its position in Voya Financial by 48.2% during the third quarter. Barclays PLC now owns 48,890 shares of the asset manager's stock valued at $3,872,000 after buying an additional 15,902 shares during the period. Retirement Systems of Alabama lifted its position in Voya Financial by 8.2% during the third quarter. Retirement Systems of Alabama now owns 272,339 shares of the asset manager's stock valued at $21,575,000 after buying an additional 20,750 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Voya Financial by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager's stock worth $146,234,000 after buying an additional 248,795 shares during the last quarter. FMR LLC grew its holdings in shares of Voya Financial by 25.9% during the third quarter. FMR LLC now owns 2,884,044 shares of the asset manager's stock valued at $228,474,000 after buying an additional 592,523 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Voya Financial by 1.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager's stock worth $212,152,000 after buying an additional 38,438 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.