Voya Financial (NYSE:VOYA) Lowered to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Voya Financial (NYSE:VOYA) from an overweight rating to a neutral rating in a research note published on Thursday morning, Marketbeat reports. JPMorgan Chase & Co. currently has $87.00 target price on the asset manager’s stock.

A number of other research analysts have also weighed in on the company. Barclays began coverage on Voya Financial in a research report on Wednesday, September 4th. They set an overweight rating and a $84.00 price objective for the company. Jefferies Financial Group lifted their price target on Voya Financial from $78.00 to $80.00 and gave the stock a hold rating in a research report on Thursday, July 18th. Wells Fargo & Company dropped their price target on Voya Financial from $91.00 to $87.00 and set an overweight rating for the company in a research report on Monday, August 12th. Bank of America lifted their price target on Voya Financial from $80.00 to $83.00 and gave the stock a buy rating in a research report on Thursday, July 11th. Finally, Raymond James lowered 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 and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $83.82.

Voya Financial Trading Down 1.4 %

Shares of Voya Financial stock opened at $78.35 on Thursday. The firm has a market cap of $7.89 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 0.58 and a beta of 1.03. The business has a 50-day moving average price of $71.69 and a 200-day moving average price of $71.88. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.51. Voya Financial has a twelve month low of $63.02 and a twelve month 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 for the quarter, beating analysts’ consensus estimates of $2.14 by $0.13. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.87 billion. Voya Financial had a return on equity of 16.11% and a net margin of 10.87%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.31 earnings per share. Equities research analysts anticipate that Voya Financial will post 8.45 EPS for the current fiscal year.

Voya Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, August 27th were paid a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $1.80 annualized dividend and a yield of 2.30%. This is an increase from Voya Financial’s previous quarterly dividend of $0.40. Voya Financial’s dividend payout ratio (DPR) is presently 25.57%.

Institutional Trading of Voya Financial

Several institutional investors have recently added to or reduced their stakes in VOYA. SYSTM Wealth Solutions LLC raised its stake in shares of Voya Financial by 56.2% during the first quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 149 shares in the last quarter. FinTrust Capital Advisors LLC bought a new stake in shares of Voya Financial during the first quarter valued at approximately $43,000. Quarry LP bought a new stake in shares of Voya Financial during the second quarter valued at approximately $61,000. Allspring Global Investments Holdings LLC raised its stake in shares of Voya Financial by 6,850.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock valued at $62,000 after acquiring an additional 822 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Voya Financial during the first quarter valued at approximately $85,000. 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.