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

Voya Financial (NYSE:VOYA) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Thursday, MarketBeat reports. They presently have a $87.00 price target on the asset manager’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 8.78% from the stock’s current price.

Several other equities analysts have also commented on the company. Bank of America upped their price target on Voya Financial from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Jefferies Financial Group increased their target price on shares of Voya Financial from $78.00 to $80.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Barclays started coverage on shares of Voya Financial in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $84.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $83.00 price objective on shares of Voya Financial in a report on Wednesday, August 7th. Finally, Piper Sandler lifted their target price on shares of Voya Financial from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Voya Financial presently has an average rating of “Moderate Buy” and an average target price of $83.82.

Voya Financial Price Performance

Voya Financial stock opened at $79.98 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $71.69 and a 200 day moving average price of $71.88. Voya Financial has a 12-month low of $63.02 and a 12-month high of $80.16. The stock has a market cap of $8.05 billion, a P/E ratio of 11.36, a PEG ratio of 0.59 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results 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 business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm earned $2.31 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. Sell-side analysts anticipate that Voya Financial will post 8.41 earnings per share for the current year.

Institutional Investors Weigh In On Voya Financial

A number of hedge funds have recently bought and sold shares of VOYA. Hohimer Wealth Management LLC increased its stake in shares of Voya Financial by 1.7% during the first quarter. Hohimer Wealth Management LLC now owns 8,452 shares of the asset manager’s stock worth $625,000 after buying an additional 140 shares during the period. SYSTM Wealth Solutions LLC raised its holdings in shares of Voya Financial by 56.2% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 149 shares in the last quarter. Arjuna Capital lifted its position in shares of Voya Financial by 0.8% during the 2nd quarter. Arjuna Capital now owns 19,685 shares of the asset manager’s stock worth $1,401,000 after purchasing an additional 161 shares during the last quarter. Blair William & Co. IL lifted its position in shares of Voya Financial by 5.3% during the 1st quarter. Blair William & Co. IL now owns 5,380 shares of the asset manager’s stock worth $398,000 after purchasing an additional 272 shares during the last quarter. Finally, New York State Teachers Retirement System grew its stake in shares of Voya Financial by 0.8% during the first quarter. New York State Teachers Retirement System now owns 36,528 shares of the asset manager’s stock worth $2,700,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds 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.