Voya Financial (NYSE:VOYA) Price Target Raised to $105.00

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

Several other research analysts have also commented on VOYA. Atlantic Securities set a $79.00 price target on Voya Financial in a research report on Wednesday, July 15th. Raymond James Financial raised Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 price objective on the stock in a research report on Monday, June 8th. Jefferies Financial Group lifted their target price on Voya Financial from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Barclays boosted their target price on shares of Voya Financial from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Finally, Bank of America decreased their price target 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.15.

Voya Financial Stock Performance

Shares of VOYA stock opened at $96.83 on Tuesday. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.90 and a beta of 0.91. Voya Financial has a 52-week low of $64.50 and a 52-week high of $103.85. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average is $90.08 and its 200 day moving average is $79.36.

Voya Financial (NYSE:VOYA) last posted its earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.24. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.98 billion. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.Voya Financial’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.00 earnings per share. On average, sell-side analysts anticipate that Voya Financial will post 9.38 EPS for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, May 26th were given 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 dividend yield of 1.9%. Voya Financial’s dividend payout ratio (DPR) is presently 28.40%.

Insiders Place Their Bets

In related news, insider Trevor Ogle sold 3,994 shares of the business’s stock in a transaction on 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 in the company, valued at $259,830. The trade was a 58.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Voya Financial

Institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP increased its holdings in shares of Voya Financial by 75.5% during the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 151 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in Voya Financial in the 4th quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new stake in Voya Financial in the 4th quarter worth approximately $33,000. Systematic Financial Management LP purchased a new stake in Voya Financial during the 4th quarter worth approximately $37,000. Finally, Root Financial Partners LLC grew its position in 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 purchasing an additional 214 shares during the last quarter. Institutional investors and hedge funds 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.