Voya Financial (NYSE:VOYA) Cut to “Neutral” at JPMorgan Chase & Co.

Voya Financial (NYSE:VOYA) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Thursday, Marketbeat Ratings reports. They currently have a $87.00 target price on the asset manager’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 9.52% from the company’s current price.

Several other research analysts have also issued reports on VOYA. Raymond James lowered Voya Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, September 13th. Bank of America raised their price target on shares of Voya Financial from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Barclays began coverage on shares of Voya Financial in a report on Wednesday, September 4th. They set an “overweight” rating and a $84.00 price objective on the stock. Citigroup raised their target price on Voya Financial from $86.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Evercore ISI lifted their price target on Voya Financial from $79.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.82.

Voya Financial Price Performance

VOYA opened at $79.44 on Thursday. The firm has a market capitalization of $8.00 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.58 and a beta of 1.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.30 and a quick ratio of 0.30. The business’s 50-day moving average is $71.41 and its two-hundred day moving average is $71.78. Voya Financial has a 1 year low of $63.02 and a 1 year high of $79.82.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Tuesday, July 30th. The asset manager reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.13. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the firm earned $2.31 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Research analysts anticipate that Voya Financial will post 8.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Voya Financial

Hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Voya Financial by 1,020.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,368,185 shares of the asset manager’s stock valued at $175,057,000 after purchasing an additional 2,156,773 shares during the period. Boston Partners raised its position in shares of Voya Financial by 83.8% in the first quarter. Boston Partners now owns 2,525,604 shares of the asset manager’s stock worth $186,310,000 after acquiring an additional 1,151,822 shares during the period. Vanguard Group Inc. increased its stake in shares of Voya Financial by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 11,067,291 shares of the asset manager’s stock valued at $818,094,000 after purchasing an additional 644,216 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Voya Financial by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock worth $146,234,000 after purchasing an additional 248,795 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Voya Financial during the second quarter worth approximately $13,013,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

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.