Voya Financial (NYSE:VOYA) Given New $88.00 Price Target at JPMorgan Chase & Co.

Voya Financial (NYSE:VOYA) had its price target lowered by analysts at JPMorgan Chase & Co. from $89.00 to $88.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 7.71% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings upgraded Voya Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods cut their target price on Voya Financial from $82.00 to $81.00 and set an “outperform” rating for the company in a research note on Friday, April 10th. Wells Fargo & Company upped their target price on Voya Financial from $80.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada upped their price target on shares of Voya Financial from $87.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Bank of America lowered their price target on shares of Voya Financial from $72.00 to $70.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.30.

Voya Financial Price Performance

NYSE VOYA traded down $0.69 on Tuesday, hitting $81.70. 216,248 shares of the company’s stock were exchanged, compared to its average volume of 1,137,585. The stock has a 50-day moving average of $74.46 and a 200-day moving average of $73.57. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.48. Voya Financial has a 52 week low of $64.50 and a 52 week high of $84.00. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 0.74 and a beta of 0.94.

Voya Financial (NYSE:VOYA) last released its earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.24. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the company earned $2.00 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Analysts expect that Voya Financial will post 9.61 earnings per share for the current year.

Institutional Trading of Voya Financial

A number of institutional investors and hedge funds have recently bought and sold shares of VOYA. Allworth Financial LP grew its holdings 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 acquiring an additional 151 shares during the period. Four Tree Island Advisory LLC grew its holdings in Voya Financial by 0.5% during the 4th quarter. Four Tree Island Advisory LLC now owns 32,532 shares of the asset manager’s stock worth $2,423,000 after acquiring an additional 174 shares during the period. Root Financial Partners LLC grew its holdings in Voya Financial by 59.6% during the 1st quarter. Root Financial Partners LLC now owns 573 shares of the asset manager’s stock worth $39,000 after acquiring an additional 214 shares during the period. GAMMA Investing LLC grew its holdings in Voya Financial by 7.8% during the 4th quarter. GAMMA Investing LLC now owns 2,976 shares of the asset manager’s stock worth $222,000 after acquiring an additional 216 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings 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 acquiring an additional 222 shares during the period. 96.10% of the stock is currently owned by institutional investors and hedge funds.

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.