Voya Financial (NYSE:VOYA) Price Target Raised to $89.00 at JPMorgan Chase & Co.

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

VOYA has been the subject of a number of other reports. Barclays raised their price target on Voya Financial from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday. Keefe, Bruyette & Woods raised their price target on Voya Financial from $80.00 to $83.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. Bank of America restated an "underperform" rating and set a $71.00 price target (down previously from $79.00) on shares of Voya Financial in a research note on Friday, March 28th. Wells Fargo & Company raised their price target on Voya Financial from $69.00 to $76.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $88.00 price objective (up previously from $86.00) on shares of Voya Financial in a research report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Voya Financial has a consensus rating of "Hold" and a consensus price target of $83.25.

Voya Financial Price Performance

Shares of VOYA traded up $0.44 during mid-day trading on Tuesday, hitting $72.85. 881,868 shares of the stock were exchanged, compared to its average volume of 887,602. The company has a market cap of $7.01 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.64 and a beta of 1.00. Voya Financial has a 52-week low of $52.43 and a 52-week high of $84.30. The firm has a 50-day moving average of $67.46 and a two-hundred day moving average of $67.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.28 and a current ratio of 0.28.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.56. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.94 billion. Voya Financial had a return on equity of 14.05% and a net margin of 7.18%. Voya Financial's revenue was down 4.0% on a year-over-year basis. During the same period last year, the company earned $1.77 earnings per share. On average, equities analysts predict that Voya Financial will post 8.39 earnings per share for the current year.

Voya Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, May 27th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Tuesday, May 27th. Voya Financial's dividend payout ratio (DPR) is 33.96%.

Insiders Place Their Bets

In related news, Director Yvette S. Butler sold 1,700 shares of Voya Financial stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $66.18, for a total transaction of $112,506.00. Following the completion of the transaction, the director directly owned 355 shares in the company, valued at approximately $23,493.90. This trade represents a 82.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.37% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VOYA. Jones Financial Companies Lllp raised its position in Voya Financial by 81.0% during the fourth quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager's stock valued at $28,000 after acquiring an additional 183 shares in the last quarter. Quarry LP purchased a new stake in shares of Voya Financial in the fourth quarter valued at approximately $37,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Voya Financial in the first quarter valued at approximately $47,000. Geneos Wealth Management Inc. increased its position in shares of 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 in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Voya Financial by 666.4% in the first quarter. Versant Capital Management Inc now owns 889 shares of the asset manager's stock valued at $60,000 after buying an additional 773 shares in the last quarter. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

About Voya Financial

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.