Voya Financial (NYSE:VOYA) Price Target Raised to $109.00

Voya Financial (NYSE:VOYA) had its price objective raised by JPMorgan Chase & Co. from $105.00 to $109.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Other research analysts have also issued reports about the stock. Jefferies Financial Group increased their target price on shares of Voya Financial from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Morgan Stanley upped their price objective on shares of Voya Financial from $84.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. UBS Group increased their price objective on shares of Voya Financial from $95.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Royal Bank Of Canada raised their target price on Voya Financial from $107.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings raised Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $102.54.

Voya Financial Price Performance

Shares of VOYA opened at $101.09 on Tuesday. Voya Financial has a 52-week low of $64.50 and a 52-week high of $103.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.27 and a current ratio of 0.27. The business’s 50 day moving average price is $95.53 and its two-hundred day moving average price is $81.82. The firm has a market cap of $9.16 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.47). The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.90 billion. Voya Financial had a return on equity of 12.31% and a net margin of 7.45%.The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business earned $1.66 EPS. On average, equities analysts anticipate that Voya Financial will post 9.3 EPS for the current year.

Voya Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Wednesday, August 26th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $1.88 annualized dividend and a dividend yield of 1.9%. Voya Financial’s payout ratio is presently 31.70%.

Insider Activity

In related 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 completion of the sale, the insider owned 2,887 shares in the company, valued at approximately $259,830. This represents a 58.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 insiders.

Hedge Funds Weigh In On Voya Financial

Several large investors have recently bought and sold shares of VOYA. Allworth Financial LP boosted its holdings in Voya Financial by 75.5% during the 3rd quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock worth $26,000 after acquiring an additional 151 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Voya Financial in the second quarter valued at about $27,000. Atlas Capital Advisors Inc. bought a new position in shares of Voya Financial during the fourth quarter valued at about $28,000. V Square Quantitative Management LLC bought a new position in shares of Voya Financial during the fourth quarter valued at about $33,000. Finally, Systematic Financial Management LP bought a new position in shares of Voya Financial during the fourth quarter valued at about $37,000. 96.10% of the stock is currently owned by institutional investors.

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.