JPMorgan Chase & Co. Downgrades ING US to Underweight (VOYA)

ING US (NYSE:VOYA) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued on Monday, reports. They currently have a $30.00 price objective on the stock. JPMorgan Chase & Co.’s price target would indicate a potential downside of 5.51% from the stock’s previous close. The analysts noted that the move was a valuation call.

ING US (NYSE:VOYA) traded down 2.77% on Monday, hitting $30.87. ING US has a 1-year low of $19.20 and a 1-year high of $32.70. The stock’s 50-day moving average is currently $29.42. The company has a market cap of $8.050 billion and a price-to-earnings ratio of 9.53.

ING US (NYSE:VOYA) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.09. The company had revenue of $306.80 million for the quarter, compared to the consensus estimate of $281.85 million. Analysts expect that ING US will post $2.73 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital reiterated a “top pick” rating on shares of ING US in a research note to investors on Thursday. They now have a $37.00 price target on the stock. Separately, analysts at BTIG Research downgraded shares of ING US from a “buy” rating to a “neutral” rating in a research note to investors on Monday, July 29th. They now have a $31.00 price target on the stock.

Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $30.63.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. The ex-dividend date is Wednesday, August 28th.

ING U.S., Inc is a retirement, investment and insurance company serving the financial needs of approximately 13 million individual and institutional customers in the United States.

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