Piper Sandler Lowers Voya Financial (NYSE:VOYA) Price Target to $84.00

Voya Financial (NYSE:VOYA) had its price target dropped by Piper Sandler from $91.00 to $84.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the asset manager’s stock. Piper Sandler’s price objective would suggest a potential upside of 25.86% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. UBS Group raised shares of Voya Financial to a “strong-buy” rating in a research note on Monday, November 11th. Wells Fargo & Company cut their price objective on Voya Financial from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, December 10th. Barclays lowered their target price on Voya Financial from $85.00 to $81.00 and set an “overweight” rating for the company in a report on Tuesday, December 10th. Bank of America reiterated a “neutral” rating and set a $83.00 price target (down from $91.00) on shares of Voya Financial in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada lowered their price objective on shares of Voya Financial from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Voya Financial currently has a consensus rating of “Moderate Buy” and an average price target of $85.08.

Voya Financial Trading Up 1.2 %

Shares of VOYA stock opened at $66.74 on Wednesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54. Voya Financial has a twelve month low of $63.11 and a twelve month high of $84.30. The company’s 50-day moving average price is $79.73 and its 200-day moving average price is $74.90. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 0.54 and a beta of 1.02.

Voya Financial (NYSE:VOYA) last posted its earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.07. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.86 billion. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. Voya Financial’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.07 EPS. As a group, equities analysts predict that Voya Financial will post 8.09 earnings per share for the current year.

Insider Activity at Voya Financial

In related news, insider Tony D. Oh sold 715 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total value of $58,594.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Voya Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in shares of Voya Financial by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock worth $146,234,000 after purchasing an additional 248,795 shares in the last quarter. Retirement Systems of Alabama grew its stake in Voya Financial by 8.2% during the 3rd quarter. Retirement Systems of Alabama now owns 272,339 shares of the asset manager’s stock worth $21,575,000 after buying an additional 20,750 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Voya Financial by 1.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager’s stock worth $212,152,000 after buying an additional 38,438 shares during the period. International Assets Investment Management LLC lifted its stake in Voya Financial by 15,513.4% in the third quarter. International Assets Investment Management LLC now owns 20,922 shares of the asset manager’s stock valued at $1,657,000 after buying an additional 20,788 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Voya Financial by 25.9% in the third quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock valued at $228,474,000 after acquiring an additional 592,523 shares during the period. Institutional investors and hedge funds own 96.10% of the company’s stock.

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.