Voya Financial (NYSE:VOYA) Given New $88.00 Price Target at JPMorgan Chase & Co.

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

Several other research analysts have also weighed in on the company. Jefferies Financial Group upped their price target on Voya Financial from $76.00 to $79.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Piper Sandler upped their price target on Voya Financial from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Evercore ISI boosted their target price on Voya Financial from $79.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company boosted their target price on Voya Financial from $91.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, May 10th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Voya Financial currently has an average rating of “Moderate Buy” and a consensus price target of $83.78.

Voya Financial Stock Up 0.7 %

NYSE:VOYA opened at $71.76 on Tuesday. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 0.50 and a beta of 1.05. Voya Financial has a 1-year low of $63.02 and a 1-year high of $77.00. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. The business’s fifty day moving average price is $72.79 and its 200 day moving average price is $71.45.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, April 30th. The asset manager reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.30. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.80 billion. Voya Financial had a return on equity of 16.74% and a net margin of 10.48%. Voya Financial’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.69 earnings per share. On average, sell-side analysts forecast that Voya Financial will post 8.48 earnings per share for the current fiscal year.

Insider Transactions at Voya Financial

In other news, Director Yvette S. Butler sold 2,165 shares of the company’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 1.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Voya Financial

Several large investors have recently made changes to their positions in VOYA. Vanguard Group Inc. boosted its stake in Voya Financial by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 11,067,291 shares of the asset manager’s stock valued at $818,094,000 after purchasing an additional 644,216 shares during the period. Boston Partners boosted its stake in Voya Financial by 83.8% during the 1st quarter. Boston Partners now owns 2,525,604 shares of the asset manager’s stock valued at $186,310,000 after purchasing an additional 1,151,822 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Voya Financial by 1,020.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,368,185 shares of the asset manager’s stock valued at $175,057,000 after purchasing an additional 2,156,773 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Voya Financial by 2.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 1,610,199 shares of the asset manager’s stock valued at $115,621,000 after purchasing an additional 40,000 shares during the period. Finally, Norges Bank bought a new stake in Voya Financial during the 4th quarter valued at approximately $80,749,000. Institutional investors own 96.10% of the company’s stock.

Voya Financial Company Profile

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.