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

Voya Financial (NYSE:VOYA) had its target price lowered by Piper Sandler from $91.00 to $84.00 in a report published on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the asset manager’s stock.

A number of other analysts also recently weighed in on the company. JPMorgan Chase & Co. downgraded Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price target on the stock. in a research note on Thursday, October 3rd. UBS Group upgraded shares of Voya Financial to a “strong-buy” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods cut their price target on shares of Voya Financial from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Tuesday, December 10th. Raymond James downgraded shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, September 13th. Finally, Barclays dropped their target price on shares of Voya Financial from $85.00 to $81.00 and set an “overweight” rating for the company in a report on Tuesday, December 10th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $85.08.

Voya Financial Stock Performance

Shares of VOYA opened at $67.21 on Wednesday. Voya Financial has a 1 year low of $63.11 and a 1 year high of $84.30. The stock has a market capitalization of $6.47 billion, a P/E ratio of 10.70, a P/E/G ratio of 0.54 and a beta of 1.02. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.31 and a current ratio of 0.31. The company’s fifty day moving average is $79.48 and its two-hundred day moving average is $74.84.

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

Voya Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Tuesday, November 26th. Voya Financial’s payout ratio is currently 28.66%.

Insider Buying and Selling

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 shares were sold at an average price of $81.95, for a total transaction of $58,594.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new position in Voya Financial during the third quarter worth about $29,000. UMB Bank n.a. lifted its holdings in shares of Voya Financial by 118.9% during the 3rd quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after acquiring an additional 239 shares during the period. Quarry LP acquired a new stake in shares of Voya Financial in the second quarter worth approximately $61,000. Blue Trust Inc. increased its position in Voya Financial by 3,640.9% during the third quarter. Blue Trust Inc. now owns 823 shares of the asset manager’s stock worth $65,000 after purchasing an additional 801 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in Voya Financial during the third quarter worth approximately $79,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

About Voya Financial

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.