Voya Financial (NYSE:VOYA) Given New $82.00 Price Target at JPMorgan Chase & Co.

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

A number of other brokerages also recently issued reports on VOYA. Bank of America reaffirmed a “neutral” rating and set a $83.00 price target (down from $91.00) on shares of Voya Financial in a report on Wednesday, December 11th. 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 note on Wednesday, December 18th. Evercore ISI dropped their price target on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 10th. UBS Group upgraded shares of Voya Financial to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Raymond James downgraded shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Voya Financial has an average rating of “Moderate Buy” and an average target price of $84.67.

Voya Financial Stock Up 0.1 %

Shares of NYSE:VOYA opened at $68.63 on Tuesday. Voya Financial has a fifty-two week low of $63.11 and a fifty-two week high of $84.30. The firm’s 50 day moving average price is $76.07 and its 200 day moving average price is $74.43. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.54. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 0.54 and a beta of 1.05.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.07. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.86 billion. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $2.07 EPS. As a group, equities research analysts predict that Voya Financial will post 8.09 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Shareholders 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 2.62%. The ex-dividend date was Tuesday, November 26th. Voya Financial’s dividend payout ratio is presently 28.66%.

Insiders Place Their Bets

In related news, insider Tony D. Oh sold 715 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Voya Financial

A number of large investors have recently modified their holdings of VOYA. Retirement Systems of Alabama raised its position in Voya Financial by 8.2% in the third quarter. Retirement Systems of Alabama now owns 272,339 shares of the asset manager’s stock worth $21,575,000 after acquiring an additional 20,750 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Voya Financial in the 3rd quarter valued at about $209,000. Coldstream Capital Management Inc. lifted its stake in shares of Voya Financial by 8.1% in the third quarter. Coldstream Capital Management Inc. now owns 3,591 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 270 shares during the period. Barclays PLC lifted its stake in shares of Voya Financial by 48.2% in the third quarter. Barclays PLC now owns 48,890 shares of the asset manager’s stock valued at $3,872,000 after purchasing an additional 15,902 shares during the period. Finally, LRI Investments LLC boosted its holdings in Voya Financial by 780.5% during the third quarter. LRI Investments LLC now owns 1,039 shares of the asset manager’s stock worth $85,000 after buying an additional 921 shares in the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

About Voya Financial

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.