Piper Sandler Reaffirms Overweight Rating for Voya Financial (NYSE:VOYA)

Piper Sandler reissued their overweight rating on shares of Voya Financial (NYSE:VOYA) in a research report released on Monday morning, Benzinga reports. The brokerage currently has a $84.00 target price on the asset manager’s stock.

VOYA has been the subject of a number of other reports. Barclays initiated coverage on Voya Financial in a research report on Wednesday, September 4th. They set an overweight rating and a $84.00 target price for the company. Raymond James downgraded Voya Financial from a strong-buy rating to a market perform rating in a research report on Friday, September 13th. Evercore ISI upped their target price on Voya Financial from $79.00 to $82.00 and gave the company an outperform rating in a research report on Wednesday, September 11th. Morgan Stanley cut their target price on Voya Financial from $76.00 to $75.00 and set an equal weight rating for the company in a research report on Monday, August 19th. Finally, Jefferies Financial Group upped their price objective on Voya Financial from $78.00 to $80.00 and gave the stock a hold rating in a research report on Thursday, July 18th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $83.45.

Voya Financial Stock Performance

Shares of NYSE VOYA opened at $78.65 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.30 and a quick ratio of 0.30. The stock’s fifty day moving average price is $71.02 and its two-hundred day moving average price is $71.56. Voya Financial has a one year low of $63.02 and a one year high of $79.69. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 0.57 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Tuesday, July 30th. The asset manager reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.13. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.87 billion. Voya Financial had a return on equity of 16.11% and a net margin of 10.87%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 EPS. On average, equities analysts forecast that Voya Financial will post 8.45 EPS for the current year.

Voya Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, August 27th were given a $0.45 dividend. The ex-dividend date was Tuesday, August 27th. This is an increase from Voya Financial’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.29%. Voya Financial’s dividend payout ratio (DPR) is currently 25.57%.

Hedge Funds Weigh In On Voya Financial

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Voya Financial by 6.2% in the first quarter. Vanguard Group Inc. now owns 11,067,291 shares of the asset manager’s stock valued at $818,094,000 after purchasing an additional 644,216 shares during the last quarter. Boston Partners increased its stake in shares of Voya Financial by 83.8% in the first quarter. Boston Partners now owns 2,525,604 shares of the asset manager’s stock valued at $186,310,000 after buying an additional 1,151,822 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Voya Financial by 1,020.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,368,185 shares of the asset manager’s stock valued at $175,057,000 after buying an additional 2,156,773 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Voya Financial by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock valued at $146,234,000 after buying an additional 248,795 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Voya Financial by 29.6% in the second quarter. AQR Capital Management LLC now owns 651,803 shares of the asset manager’s stock valued at $46,376,000 after buying an additional 148,810 shares during the period. 96.10% of the stock is currently owned by institutional investors.

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.