JPMorgan Chase & Co. Increases Voya Financial (NYSE:VOYA) Price Target to $105.00

Voya Financial (NYSE:VOYA) had its target price increased by analysts at JPMorgan Chase & Co. from $88.00 to $105.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 7.17% from the company’s previous close.

A number of other equities research analysts also recently issued reports on VOYA. Raymond James Financial upgraded Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 price target for the company in a research note on Monday, June 8th. UBS Group increased their price objective on shares of Voya Financial from $95.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods raised their price objective on shares of Voya Financial from $92.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. TD Cowen boosted their target price on shares of Voya Financial from $100.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Barclays upped their target price on shares of Voya Financial from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Voya Financial Stock Performance

Shares of VOYA traded down $0.64 during trading hours on Tuesday, hitting $97.97. The stock had a trading volume of 117,539 shares, compared to its average volume of 1,148,413. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.27 and a quick ratio of 0.27. Voya Financial has a 12 month low of $64.50 and a 12 month high of $103.85. The firm has a market capitalization of $8.88 billion, a PE ratio of 14.80, a PEG ratio of 0.91 and a beta of 0.91. The stock has a fifty day moving average price of $89.10 and a 200 day moving average price of $78.88.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, May 5th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.24. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the business earned $2.00 earnings per share. Voya Financial’s revenue for the quarter was up 3.1% compared to the same quarter last year. Analysts anticipate that Voya Financial will post 9.4 EPS for the current year.

Insider Buying and Selling at Voya Financial

In other news, insider Trevor Ogle sold 3,994 shares of Voya Financial stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $90.00, for a total transaction of $359,460.00. Following the transaction, the insider directly owned 2,887 shares of the company’s stock, valued at $259,830. The trade was a 58.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Voya Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Impax Asset Management Group plc increased its position in Voya Financial by 11.4% in the fourth quarter. Impax Asset Management Group plc now owns 203,101 shares of the asset manager’s stock worth $15,129,000 after purchasing an additional 20,722 shares during the last quarter. Fifth Third Bancorp lifted its position in Voya Financial by 4,892.7% during the first quarter. Fifth Third Bancorp now owns 63,058 shares of the asset manager’s stock valued at $4,308,000 after purchasing an additional 61,795 shares during the last quarter. Ruffer LLP bought a new position in Voya Financial during the fourth quarter valued at $3,153,000. Algebris UK Ltd. grew its stake in shares of Voya Financial by 17.6% in the 4th quarter. Algebris UK Ltd. now owns 660,743 shares of the asset manager’s stock worth $49,242,000 after buying an additional 99,122 shares in the last quarter. Finally, Pzena Investment Management LLC grew its stake in shares of Voya Financial by 1.3% in the 1st quarter. Pzena Investment Management LLC now owns 3,673,118 shares of the asset manager’s stock worth $250,947,000 after buying an additional 46,906 shares in the last quarter. Institutional investors own 96.10% of the company’s stock.

Voya Financial Company Profile

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.