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

Voya Financial (NYSE:VOYA) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $87.00 to $82.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 19.10% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Voya Financial from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, December 10th. Royal Bank of Canada reduced their target price on shares of Voya Financial from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Keefe, Bruyette & Woods reduced their price objective on shares of Voya Financial from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Tuesday, December 10th. Evercore ISI lowered their target price on Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 10th. Finally, Raymond James downgraded Voya Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, September 13th. Six equities research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.67.

Voya Financial Stock Performance

Shares of VOYA stock traded up $0.27 during trading hours on Tuesday, reaching $68.85. The stock had a trading volume of 171,531 shares, compared to its average volume of 519,871. The firm has a 50-day simple moving average of $76.30 and a 200-day simple moving average of $74.46. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $6.62 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 0.54 and a beta of 1.05. Voya Financial has a twelve month low of $63.11 and a twelve month high of $84.30.

Voya Financial (NYSE:VOYA) last released its earnings results on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.07. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.86 billion. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.07 EPS. As a group, equities analysts forecast that Voya Financial will post 8.09 earnings per share for the current year.

Insider Activity at Voya Financial

In related news, insider Tony D. Oh sold 715 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total value of $58,594.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Voya Financial

Several hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Voya Financial during the third quarter worth approximately $29,000. UMB Bank n.a. boosted its holdings in Voya Financial by 118.9% during the 3rd quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after acquiring an additional 239 shares during the last quarter. Quarry LP bought a new position in shares of Voya Financial during the 2nd quarter worth approximately $61,000. Blue Trust Inc. boosted its holdings in shares of Voya Financial by 3,640.9% in the 3rd quarter. Blue Trust Inc. now owns 823 shares of the asset manager’s stock worth $65,000 after buying an additional 801 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Voya Financial in the 3rd quarter worth about $79,000. Institutional investors and hedge funds 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.