Voya Financial (NYSE:VOYA) PT Raised to $88.00

Voya Financial (NYSE:VOYA) had its price target hoisted by 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 target indicates a potential upside of 23.65% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Evercore ISI raised their target price on shares of Voya Financial from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Jefferies Financial Group boosted their target price on shares of Voya Financial from $76.00 to $79.00 and gave the company a “hold” rating in a research note on Friday. Piper Sandler upped their price objective on shares of Voya Financial from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company lifted their price target 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 equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Voya Financial presently has an average rating of “Moderate Buy” and an average price target of $83.78.

Voya Financial Stock Performance

Shares of NYSE VOYA traded up $0.06 during mid-day trading on Tuesday, hitting $71.17. The stock had a trading volume of 63,971 shares, compared to its average volume of 839,549. The company has a 50 day moving average of $72.70 and a two-hundred day moving average of $71.47. Voya Financial has a twelve month low of $63.02 and a twelve month high of $77.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $7.17 billion, a PE ratio of 10.11, a PEG ratio of 0.50 and a beta of 1.05.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Tuesday, April 30th. The asset manager reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.30. The firm 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 revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $1.69 earnings per share. Research analysts predict that Voya Financial will post 8.53 EPS for the current fiscal year.

Insider Activity

In other Voya Financial news, Director Yvette S. Butler sold 2,165 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $73.78, for a total value of $159,733.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.37% of the company’s stock.

Institutional Trading of Voya Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Boston Partners grew its holdings in shares of Voya Financial by 83.8% in the first 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. PGGM Investments raised its position in Voya Financial by 1.9% in the first quarter. PGGM Investments now owns 39,593 shares of the asset manager’s stock valued at $2,927,000 after purchasing an additional 753 shares during the period. Algebris UK Ltd acquired a new position in shares of Voya Financial in the 1st quarter valued at $10,362,000. iA Global Asset Management Inc. lifted its stake in shares of Voya Financial by 11.0% in the 1st quarter. iA Global Asset Management Inc. now owns 14,701 shares of the asset manager’s stock valued at $1,087,000 after purchasing an additional 1,457 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of Voya Financial during the 1st quarter worth $515,000. 96.10% of the stock is owned by institutional investors and hedge funds.

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.