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

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

Several other brokerages also recently issued reports on VOYA. Piper Sandler cut their price objective on Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Bank of America reiterated an “underperform” rating and set a $71.00 price objective (down previously from $79.00) on shares of Voya Financial in a research report on Friday, March 28th. Keefe, Bruyette & Woods lowered their price target on shares of Voya Financial from $90.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Morgan Stanley raised shares of Voya Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $76.00 to $87.00 in a research note on Friday, February 28th. Finally, Wells Fargo & Company lifted their target price on shares of Voya Financial from $76.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $82.83.

Voya Financial Stock Up 1.6 %

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

Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Tuesday, February 4th. The asset manager reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. Analysts predict that Voya Financial will post 8.39 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Tuesday, February 25th. Voya Financial’s dividend payout ratio (DPR) is presently 29.41%.

Hedge Funds Weigh In On Voya Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Impax Asset Management Group plc lifted its position in Voya Financial by 277.8% during the fourth quarter. Impax Asset Management Group plc now owns 2,898,785 shares of the asset manager’s stock valued at $199,062,000 after buying an additional 2,131,578 shares in the last quarter. Norges Bank acquired a new position in shares of Voya Financial during the 4th quarter valued at $96,508,000. Wealthfront Advisers LLC purchased a new stake in Voya Financial during the 4th quarter worth $67,214,000. Bank of New York Mellon Corp increased its holdings in Voya Financial by 15.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager’s stock valued at $445,487,000 after purchasing an additional 876,399 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in Voya Financial in the fourth quarter valued at about $47,155,000. 96.10% of the stock is owned by institutional investors and hedge funds.

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.