JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Voya Financial (NYSE:VOYA) Stock

Voya Financial (NYSE:VOYA) had its price objective lifted by research analysts at JPMorgan Chase & Co. from $105.00 to $109.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 10.01% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. TD Cowen upped their price target on Voya Financial from $112.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Raymond James Financial upgraded Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 price objective for the company in a research report on Monday, June 8th. Evercore reissued an “outperform” rating and set a $111.00 price objective on shares of Voya Financial in a report on Friday. Bank of America cut their target price on shares of Voya Financial from $72.00 to $70.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Finally, Barclays raised 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Voya Financial has an average rating of “Moderate Buy” and an average target price of $102.54.

Voya Financial Price Performance

Shares of Voya Financial stock traded down $1.15 during midday trading on Tuesday, reaching $99.08. The company had a trading volume of 91,647 shares, compared to its average volume of 1,137,032. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $94.52 and a 200 day simple moving average of $81.31. Voya Financial has a 1-year low of $64.50 and a 1-year high of $103.85. The company 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.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, August 4th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.47). The firm 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 firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 EPS. As a group, equities research analysts forecast that Voya Financial will post 9.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Trevor Ogle sold 3,994 shares of Voya Financial stock in a transaction on Monday, June 8th. The shares were sold at an average price of $90.00, for a total transaction of $359,460.00. Following the transaction, the insider directly owned 2,887 shares of the company’s stock, valued at $259,830. This trade represents a 58.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.57% of the company’s stock.

Institutional Trading of Voya Financial

A number of large investors have recently made changes to their positions in VOYA. Allworth Financial LP raised its stake 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 buying an additional 151 shares during the period. Four Tree Island Advisory LLC grew its position in shares of Voya Financial by 0.5% in the 4th quarter. Four Tree Island Advisory LLC now owns 32,532 shares of the asset manager’s stock valued at $2,423,000 after purchasing an additional 174 shares during the period. Root Financial Partners LLC grew its position in shares of Voya Financial by 59.6% in the 1st quarter. Root Financial Partners LLC now owns 573 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 214 shares during the period. Smartleaf Asset Management LLC increased its stake in Voya Financial by 56.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 612 shares of the asset manager’s stock worth $46,000 after purchasing an additional 222 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Voya Financial by 44.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock worth $49,000 after purchasing an additional 223 shares in the last quarter. Institutional investors own 96.10% of the company’s stock.

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.