Piper Sandler Issues Positive Forecast for Voya Financial (NYSE:VOYA) Stock Price

Voya Financial (NYSE:VOYA) had its target price increased by Piper Sandler from $88.00 to $91.00 in a report published on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the asset manager’s stock.

A number of other research firms have also commented on VOYA. Evercore ISI lifted their price objective on Voya Financial from $79.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Raymond James downgraded Voya Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, September 13th. Morgan Stanley decreased their price target on Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Wells Fargo & Company upped their price target on Voya Financial from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Bank of America upped their price target on Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.55.

Voya Financial Trading Up 0.6 %

Shares of VOYA stock traded up $0.50 during mid-day trading on Thursday, reaching $81.75. 458,656 shares of the stock traded hands, compared to its average volume of 821,211. The stock’s fifty day simple moving average is $77.94 and its two-hundred day simple moving average is $73.58. Voya Financial has a 1-year low of $63.11 and a 1-year high of $83.93. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 0.59 and a beta of 1.03. The company has a quick ratio of 0.30, a current ratio of 0.41 and a debt-to-equity ratio of 0.54.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.07. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.86 billion. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $2.07 earnings per share. On average, research analysts anticipate that Voya Financial will post 8.27 EPS for the current fiscal year.

Voya Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $1.80 annualized dividend and a dividend yield of 2.20%. Voya Financial’s payout ratio is 28.66%.

Insider Transactions at Voya Financial

In other news, insider Tony D. Oh sold 715 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total transaction of $58,594.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.37% of the stock is owned by corporate insiders.

Institutional Trading of Voya Financial

Institutional investors and hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new position in shares of Voya Financial during the 3rd quarter valued at about $29,000. UMB Bank n.a. raised 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 valued at $35,000 after buying an additional 239 shares in the last quarter. Quarry LP purchased a new position in shares of Voya Financial during the 2nd quarter valued at about $61,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Voya Financial by 6,850.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock valued at $62,000 after buying an additional 822 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Voya Financial by 3,640.9% during the 3rd quarter. Blue Trust Inc. now owns 823 shares of the asset manager’s stock valued at $65,000 after buying an additional 801 shares in the last quarter. 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.