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

Voya Financial (NYSE:VOYA) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $81.00 to $80.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 18.03% from the stock’s previous close.

A number of other equities analysts have also weighed in on VOYA. Bank of America reiterated an “underperform” rating and issued a $71.00 price target (down previously from $79.00) on shares of Voya Financial in a research report on Friday, March 28th. Evercore ISI dropped their target price on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 10th. Royal Bank of Canada reduced their price target on shares of Voya Financial from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Morgan Stanley upgraded shares of Voya Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $76.00 to $87.00 in a research report on Friday, February 28th. Finally, Piper Sandler reduced their target price on Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Voya Financial has a consensus rating of “Moderate Buy” and a consensus price target of $82.27.

Voya Financial Stock Performance

Shares of VOYA opened at $67.78 on Wednesday. Voya Financial has a 52-week low of $64.10 and a 52-week high of $84.30. The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $6.47 billion, a PE ratio of 10.98, a P/E/G ratio of 0.48 and a beta of 1.03. The firm has a 50-day moving average price of $70.38 and a 200 day moving average price of $74.34.

Voya Financial (NYSE:VOYA) last released its earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.65). Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. On average, sell-side analysts anticipate that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VOYA. Voloridge Investment Management LLC acquired a new position in Voya Financial during the fourth quarter valued at approximately $415,000. Worldquant Millennium Advisors LLC grew its stake in Voya Financial by 37.3% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 8,006 shares of the asset manager’s stock valued at $551,000 after buying an additional 2,177 shares during the last quarter. Vident Advisory LLC bought a new position in Voya Financial in the 4th quarter worth $250,000. Twinbeech Capital LP acquired a new position in Voya Financial during the 4th quarter worth $14,800,000. Finally, Two Sigma Advisers LP boosted its holdings in Voya Financial by 25.1% during the fourth quarter. Two Sigma Advisers LP now owns 133,700 shares of the asset manager’s stock valued at $9,203,000 after acquiring an additional 26,800 shares during the period. 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.