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

Voya Financial (NYSE:VOYA) had its price objective increased by JPMorgan Chase & Co. from $85.00 to $88.00 in a research note published on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the asset manager’s stock.

A number of other analysts also recently issued reports on the company. Wells Fargo & Company lifted their price target on Voya Financial from $91.00 to $92.00 and gave the stock an overweight rating in a report on Friday, May 10th. Jefferies Financial Group boosted their target price on Voya Financial from $76.00 to $79.00 and gave the stock a hold rating in a research note on Friday, June 28th. Evercore ISI increased their price target on shares of Voya Financial from $79.00 to $80.00 and gave the company an outperform rating in a research note on Thursday, April 11th. Finally, Piper Sandler boosted 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $83.78.

Voya Financial Stock Up 0.7 %

VOYA stock opened at $71.76 on Tuesday. Voya Financial has a fifty-two week low of $63.02 and a fifty-two week high of $77.00. The company’s 50 day moving average price is $72.87 and its 200 day moving average price is $71.45. 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 capitalization of $7.23 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 0.51 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 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.30. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.80 billion. Voya Financial had a net margin of 10.48% and a return on equity of 16.74%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.69 EPS. On average, equities research analysts anticipate that Voya Financial will post 8.48 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Tuesday, May 28th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. Voya Financial’s payout ratio is 22.73%.

Insider Buying and Selling

In other 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 transaction of $159,733.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Voya Financial

Several institutional investors have recently added to or reduced their stakes in VOYA. Chilton Capital Management LLC purchased a new position in shares of Voya Financial in the 4th quarter valued at approximately $26,000. SYSTM Wealth Solutions LLC raised its stake in shares of Voya Financial by 56.2% during the first quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock worth $31,000 after purchasing an additional 149 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new stake in shares of Voya Financial during the first quarter worth $43,000. Venturi Wealth Management LLC grew its position in Voya Financial by 213.2% in the 1st quarter. Venturi Wealth Management LLC now owns 595 shares of the asset manager’s stock valued at $44,000 after buying an additional 405 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in Voya Financial in the 4th quarter valued at $49,000. Institutional investors and hedge funds 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.