JPMorgan Chase & Co. Increases Voya Financial (NYSE:VOYA) Price Target to $88.00

Voya Financial (NYSE:VOYA) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $85.00 to $88.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 22.63% from the stock’s previous close.

VOYA has been the subject of several other research reports. Evercore ISI increased their price objective on Voya Financial from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Piper Sandler increased their price objective on Voya Financial from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Wells Fargo & Company increased their price objective on Voya Financial from $91.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Finally, Jefferies Financial Group increased their price objective on Voya Financial from $76.00 to $79.00 and gave the stock a “hold” rating in a research report on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.78.

Voya Financial Price Performance

Voya Financial stock opened at $71.76 on Tuesday. Voya Financial has a 12 month low of $63.02 and a 12 month high of $77.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.30 and a quick ratio of 0.30. The business has a 50 day simple moving average of $72.79 and a 200-day simple moving average of $71.45. The stock has a market capitalization of $7.23 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 0.50 and a beta of 1.05.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Tuesday, April 30th. The asset manager reported $1.88 EPS for the quarter, topping the consensus estimate of $1.58 by $0.30. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Voya Financial had a return on equity of 16.74% and a net margin of 10.48%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.69 earnings per share. Equities analysts predict that Voya Financial will post 8.48 earnings per share for the current year.

Insider Activity at Voya Financial

In related news, Director Yvette S. Butler sold 2,165 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $73.78, for a total transaction of $159,733.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Institutional Trading of Voya Financial

Large investors have recently made changes to their positions in the stock. Chilton Capital Management LLC acquired a new stake in shares of Voya Financial during the fourth quarter valued at $26,000. SYSTM Wealth Solutions LLC boosted its stake in Voya Financial by 56.2% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock worth $31,000 after buying an additional 149 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new stake in Voya Financial in the 1st quarter worth about $43,000. Venturi Wealth Management LLC boosted its stake in Voya Financial by 213.2% in the 1st quarter. Venturi Wealth Management LLC now owns 595 shares of the asset manager’s stock worth $44,000 after buying an additional 405 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in Voya Financial in the 4th quarter worth about $49,000. Institutional investors and hedge funds own 96.10% of the company’s stock.

About Voya Financial

Voya Financial, Inc engages in the provision of workplace benefits and savings products in the United States and internationally. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees.