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

Voya Financial (NYSE:VOYA) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $88.00 to $105.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 7.17% from the stock’s current price.

Several other research firms have also weighed in on VOYA. Bank of America dropped their price target on Voya Financial from $72.00 to $70.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Barclays increased their price objective on Voya Financial from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Wells Fargo & Company raised their price objective on Voya Financial from $89.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods boosted their target price on shares of Voya Financial from $92.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Atlantic Securities set a $79.00 target price on shares of Voya Financial in a research report on Wednesday, July 15th. One 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Voya Financial Trading Down 0.6%

VOYA stock traded down $0.64 during trading on Tuesday, reaching $97.97. The company 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 52 week low of $64.50 and a 52 week high of $103.85. The business has a 50 day moving average of $89.10 and a 200 day moving average of $78.88. The company has a market cap of $8.88 billion, a P/E ratio of 14.80, a PEG ratio of 0.91 and a beta of 0.91.

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

Insider Buying and Selling at Voya Financial

In other news, insider Trevor Ogle sold 3,994 shares of the company’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 of the company’s stock, valued at $259,830. This represents a 58.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Voya Financial

A number of hedge funds have recently bought and sold shares of VOYA. A&I Financial Services LLC lifted its stake in Voya Financial by 11.4% during the 2nd quarter. A&I Financial Services LLC now owns 10,608 shares of the asset manager’s stock valued at $960,000 after acquiring an additional 1,089 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Voya Financial during the second quarter valued at approximately $11,372,000. Thrive Wealth Management LLC purchased a new position in shares of Voya Financial during the second quarter valued at approximately $223,000. GAMMA Investing LLC raised its holdings in shares of Voya Financial by 17.8% during the second quarter. GAMMA Investing LLC now owns 3,940 shares of the asset manager’s stock valued at $357,000 after purchasing an additional 595 shares during the last quarter. Finally, Redwood Investment Management LLC bought a new position in Voya Financial during the first quarter valued at approximately $1,048,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

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.