Voya Financial (NYSE:VOYA) Stock Price Target Cut by JPMorgan Chase & Co.

Key Points

• JPMorgan cut Voya Financial’s price target from $109 to $105 while maintaining a “neutral” rating, implying 11.04% potential upside from the prior close.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $103.69.
• Voya shares fell $0.56 to $94.56, while the company’s latest quarterly earnings missed estimates: EPS came in at $1.51 versus the $1.98 consensus, and revenue declined 4.3% year over year.

Voya Financial (NYSE:VOYA - Get Free Report) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $109.00 to $105.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the asset manager's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 11.04% from the stock's previous close.

VOYA has been the subject of a number of other research reports. Evercore restated an "outperform" rating and issued a $111.00 price target on shares of Voya Financial in a research report on Friday, August 7th. Morgan Stanley lifted their price objective on Voya Financial from $92.00 to $105.00 and gave the company an "overweight" rating in a research report on Monday, August 24th. Jefferies Financial Group lifted their price objective on Voya Financial from $80.00 to $85.00 and gave the company a "hold" rating in a research report on Friday, July 10th. Royal Bank Of Canada boosted their price objective on Voya Financial from $107.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Finally, TD Cowen increased their target price on shares of Voya Financial from $112.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Voya Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.69.

Voya Financial Stock Performance

Shares of Voya Financial stock traded down $0.56 on Thursday, hitting $94.56. 247,699 shares of the company's stock were exchanged, compared to its average volume of 1,117,624. Voya Financial has a 1 year low of $64.50 and a 1 year high of $105.64. The company has a 50-day simple moving average of $99.48 and a 200-day simple moving average of $90.49. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market capitalization of $8.57 billion, a PE ratio of 15.94, a PEG ratio of 0.95 and a beta of 0.90.

Voya Financial (NYSE:VOYA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.47). Voya Financial had a return on equity of 12.31% and a net margin of 7.45%. The company had revenue of $1.88 billion during the quarter, compared to analysts' expectations of $1.90 billion. During the same quarter last year, the company earned $1.66 earnings per share. The company's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts anticipate that Voya Financial will post 9.22 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in VOYA. Deutsche Bank AG purchased a new position in Voya Financial during the 2nd quarter valued at $1,010,000. Quantinno Capital Management LP lifted its position in shares of Voya Financial by 6.8% in the 1st quarter. Quantinno Capital Management LP now owns 237,550 shares of the asset manager's stock worth $16,229,000 after purchasing an additional 15,186 shares during the period. BlackRock Inc. purchased a new stake in Voya Financial during the second quarter worth $850,187,000. Tidal Investments LLC boosted its position in Voya Financial by 172.7% during the 2nd quarter. Tidal Investments LLC now owns 21,487 shares of the asset manager's stock valued at $1,945,000 after acquiring an additional 13,608 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Voya Financial in the 2nd quarter valued at $2,045,000. Institutional investors own 96.10% of the company's stock.

Voya Financial Company Profile

Voya Financial, Inc is a financial services company that helps individuals, employers and institutions plan, invest and prepare for retirement. The company operates primarily in the United States and focuses on retirement plans, employee benefits and investment management.

Voya's retirement business provides workplace retirement plans and related services, including plan administration, participant education and advice. Its employee benefits business offers products and services such as group life insurance, disability insurance, supplemental health benefits and health savings account solutions.

Through its investment management operations, Voya serves institutional and individual investors with investment strategies across public and private markets.

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