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

Voya Financial (NYSE:VOYA) had its price target boosted by JPMorgan Chase & Co. from $88.00 to $105.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the asset manager’s stock.

A number of other brokerages have also commented on VOYA. Bank of America cut their price objective on shares of Voya Financial from $72.00 to $70.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Atlantic Securities set a $79.00 target price on Voya Financial in a research report on Wednesday, July 15th. Weiss Ratings upgraded Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 5th. Jefferies Financial Group raised their price objective on Voya Financial from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Finally, Morgan Stanley lifted their price objective on Voya Financial from $84.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Voya Financial presently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Voya Financial Trading Down 0.5%

Shares of Voya Financial stock opened at $98.15 on Tuesday. Voya Financial has a 1 year low of $64.50 and a 1 year high of $103.85. The company’s fifty day simple moving average is $89.44 and its 200-day simple moving average is $79.04. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.90 and a beta of 0.91. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.48.

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

Voya Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, May 26th were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a yield of 1.9%. Voya Financial’s payout ratio is presently 28.40%.

Insiders Place Their Bets

In related news, insider Trevor Ogle sold 3,994 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $90.00, for a total value of $359,460.00. Following the completion of the transaction, the insider owned 2,887 shares of the company’s stock, valued at $259,830. This represents a 58.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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

Large investors have recently modified their holdings of the stock. Allworth Financial LP raised its position in Voya Financial by 75.5% in the 3rd quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock valued at $26,000 after buying an additional 151 shares during the last quarter. Four Tree Island Advisory LLC boosted its position in Voya Financial by 0.5% during the 4th quarter. Four Tree Island Advisory LLC now owns 32,532 shares of the asset manager’s stock worth $2,423,000 after acquiring an additional 174 shares during the last quarter. Root Financial Partners LLC grew its stake in shares of Voya Financial by 59.6% during the 1st quarter. Root Financial Partners LLC now owns 573 shares of the asset manager’s stock worth $39,000 after acquiring an additional 214 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Voya Financial by 7.8% during the 4th quarter. GAMMA Investing LLC now owns 2,976 shares of the asset manager’s stock worth $222,000 after acquiring an additional 216 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Voya Financial by 56.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 612 shares of the asset manager’s stock worth $46,000 after acquiring an additional 222 shares in the last quarter. 96.10% of the stock is currently owned by institutional investors.

About Voya Financial

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.