Voya Financial (NYSE:VOYA) Price Target Raised to $89.00

Voya Financial (NYSE:VOYA - Free Report) had its price objective increased by JPMorgan Chase & Co. from $80.00 to $89.00 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the asset manager's stock.

Several other brokerages have also recently issued reports on VOYA. Bank of America reaffirmed an "underperform" rating and set a $71.00 target price (down previously from $79.00) on shares of Voya Financial in a research report on Friday, March 28th. Morgan Stanley reiterated an "overweight" rating and issued a $88.00 target price (up from $86.00) on shares of Voya Financial in a report on Tuesday, June 24th. Wells Fargo & Company raised their price target on shares of Voya Financial from $69.00 to $76.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Voya Financial from $80.00 to $83.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. Finally, UBS Group reduced their price objective on shares of Voya Financial from $89.00 to $88.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $83.75.

Voya Financial Trading Down 1.1%

NYSE:VOYA traded down $0.82 during midday trading on Tuesday, hitting $72.39. 564,945 shares of the company traded hands, compared to its average volume of 887,943. The firm has a market capitalization of $6.96 billion, a P/E ratio of 13.66, a P/E/G ratio of 0.68 and a beta of 1.00. The firm's fifty day moving average is $68.25 and its 200-day moving average is $67.33. Voya Financial has a 12-month low of $52.43 and a 12-month high of $84.30. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.58.

Voya Financial (NYSE:VOYA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The asset manager reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.56. The business had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.94 billion. Voya Financial had a net margin of 7.18% and a return on equity of 14.05%. The business's revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.77 earnings per share. On average, sell-side analysts predict that Voya Financial will post 8.39 EPS for the current year.

Voya Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Tuesday, May 27th. Voya Financial's dividend payout ratio is presently 33.96%.

Insider Transactions at Voya Financial

In other news, Director Yvette S. Butler sold 1,700 shares of Voya Financial stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $66.18, for a total transaction of $112,506.00. Following the completion of the sale, the director directly owned 355 shares in the company, valued at approximately $23,493.90. The trade was a 82.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.99% of the company's stock.

Hedge Funds Weigh In On Voya Financial

Several hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in Voya Financial by 81.0% during the 4th quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager's stock worth $28,000 after acquiring an additional 183 shares during the period. Quarry LP acquired a new stake in shares of Voya Financial during the fourth quarter worth about $37,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Voya Financial during the first quarter worth about $47,000. Geneos Wealth Management Inc. boosted its position in Voya Financial by 44.0% in the first quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager's stock valued at $49,000 after buying an additional 223 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in Voya Financial by 666.4% in the 1st quarter. Versant Capital Management Inc now owns 889 shares of the asset manager's stock worth $60,000 after buying an additional 773 shares during the period. 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.