JPMorgan Chase & Co. Raises Voya Financial (NYSE:VOYA) Price Target to $109.00

Key Points

• JPMorgan raised Voya Financial’s price target to $109 from $105 while maintaining a “neutral” rating, implying approximately 10% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $102.54; recent targets from other firms range from $70 to $111.
• Voya shares traded at $99.08, near their 12-month high, despite the company reporting quarterly EPS of $1.51—below the $1.98 consensus—and revenue declining 4.3% year over year to $1.88 billion.

Voya Financial (NYSE:VOYA - Get Free Report) had its target price hoisted by analysts at JPMorgan Chase & Co. from $105.00 to $109.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the asset manager's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 10.01% from the company's previous close.

Several other equities analysts have also recently commented on the stock. Barclays upped their target price on shares of Voya Financial from $98.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Evercore restated an "outperform" rating and set a $111.00 price objective on shares of Voya Financial in a report on Friday. Wells Fargo & Company upped their price objective on shares of Voya Financial from $89.00 to $100.00 and gave the company an "equal weight" rating in a research report on Thursday, July 9th. Bank of America reduced their target price on shares of Voya Financial from $72.00 to $70.00 and set an "underperform" rating for the company in a research note on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods lifted their target price on Voya Financial from $109.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.54.

Voya Financial Stock Performance

NYSE:VOYA traded down $1.15 during mid-day trading on Tuesday, hitting $99.08. 91,647 shares of the company's stock traded hands, compared to its average volume of 1,137,032. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 0.96 and a beta of 0.89. The firm has a 50 day moving average of $94.52 and a two-hundred day moving average of $81.31. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51. Voya Financial has a 12 month low of $64.50 and a 12 month high of $103.85.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.47). Voya Financial had a return on equity of 12.31% and a net margin of 7.45%.The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.90 billion. The business's quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 earnings per share. On average, equities analysts forecast that Voya Financial will post 9.37 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Trevor Ogle sold 3,994 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $90.00, for a total value of $359,460.00. Following the completion of the transaction, the insider directly owned 2,887 shares of the company's stock, valued at approximately $259,830. This represents a 58.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.57% of the company's stock.

Institutional Investors Weigh In On Voya Financial

Several institutional investors and hedge funds have recently made changes to their positions in VOYA. Allworth Financial LP grew its stake in Voya Financial by 75.5% during the third quarter. Allworth Financial LP now owns 351 shares of the asset manager's stock worth $26,000 after buying an additional 151 shares during the last quarter. Danske Bank A S bought a new position 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 in the fourth quarter valued at about $28,000. V Square Quantitative Management LLC acquired a new position in Voya Financial during the 4th quarter worth about $33,000. Finally, Systematic Financial Management LP acquired a new position in Voya Financial during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 96.10% of the company's stock.

Voya Financial Company Profile

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.

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