Voya Financial (NYSE:VOYA) Price Target Lowered to $80.00 at JPMorgan Chase & Co.

Voya Financial (NYSE:VOYA) had its price objective cut by JPMorgan Chase & Co. from $81.00 to $80.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Other equities analysts have also issued reports about the stock. Morgan Stanley raised shares of Voya Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $76.00 to $87.00 in a report on Friday, February 28th. Bank of America reiterated an “underperform” rating and set a $71.00 price target (down from $79.00) on shares of Voya Financial in a research note on Friday, March 28th. Royal Bank of Canada dropped their price objective on Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company boosted their target price on Voya Financial from $76.00 to $79.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Finally, Piper Sandler dropped their price target on Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Voya Financial currently has a consensus rating of “Hold” and an average target price of $82.83.

Voya Financial Trading Up 1.6 %

NYSE VOYA opened at $69.06 on Wednesday. Voya Financial has a 52 week low of $64.10 and a 52 week high of $84.30. The firm has a 50 day moving average of $70.37 and a two-hundred day moving average of $74.31. The stock has a market capitalization of $6.60 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.48 and a beta of 1.03. The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 0.59.

Voya Financial (NYSE:VOYA) last posted its earnings results on Tuesday, February 4th. The asset manager reported $1.50 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. As a group, research analysts expect that Voya Financial will post 8.39 EPS for the current fiscal year.

Voya Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, February 25th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Tuesday, February 25th. Voya Financial’s payout ratio is 29.41%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in VOYA. BNP Paribas Financial Markets increased its position in Voya Financial by 52.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 56,878 shares of the asset manager’s stock worth $4,506,000 after purchasing an additional 19,654 shares during the period. Townsquare Capital LLC acquired a new position in Voya Financial during the third quarter worth $251,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Voya Financial by 1.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,600 shares of the asset manager’s stock worth $1,790,000 after acquiring an additional 405 shares in the last quarter. Holocene Advisors LP lifted its holdings in Voya Financial by 31.0% in the third quarter. Holocene Advisors LP now owns 97,254 shares of the asset manager’s stock valued at $7,704,000 after acquiring an additional 22,995 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Voya Financial by 28.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 19,670 shares of the asset manager’s stock worth $1,558,000 after purchasing an additional 4,347 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.