JPMorgan Chase & Co. Issues Pessimistic Forecast for Voya Financial (NYSE:VOYA) Stock Price

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

A number of other research firms have also recently weighed in on VOYA. Royal Bank of Canada cut their price target on Voya Financial from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Barclays reduced their target price on shares of Voya Financial from $85.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, December 10th. Raymond James downgraded shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, September 13th. Wells Fargo & Company reduced their price objective on shares of Voya Financial from $92.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 10th. Finally, UBS Group upgraded shares of Voya Financial to a “strong-buy” rating in a research report on Monday, November 11th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Voya Financial has a consensus rating of “Moderate Buy” and an average price target of $84.67.

Voya Financial Price Performance

Shares of NYSE VOYA opened at $68.63 on Tuesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54. The company’s 50-day moving average price is $76.07 and its 200 day moving average price is $74.43. Voya Financial has a 52 week low of $63.11 and a 52 week high of $84.30. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 0.54 and a beta of 1.05.

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 for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business earned $2.07 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, research analysts forecast that Voya Financial will post 8.09 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Tuesday, November 26th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Tuesday, November 26th. Voya Financial’s dividend payout ratio (DPR) is currently 28.66%.

Insider Activity at Voya Financial

In other news, insider Tony D. Oh sold 715 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total value of $58,594.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.37% of the stock is owned by insiders.

Institutional Trading of Voya Financial

Institutional investors have recently modified their holdings of the company. Barclays PLC lifted 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 in the last quarter. Retirement Systems of Alabama raised its stake in shares of Voya Financial by 8.2% in the 3rd quarter. Retirement Systems of Alabama now owns 272,339 shares of the asset manager’s stock valued at $21,575,000 after acquiring an additional 20,750 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Voya Financial by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock valued at $146,234,000 after acquiring an additional 248,795 shares in the last quarter. FMR LLC lifted its holdings in shares of Voya Financial by 25.9% during the 3rd quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock valued at $228,474,000 after acquiring an additional 592,523 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Voya Financial by 1.5% during 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 purchasing an additional 38,438 shares during the period. 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.