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

Voya Financial (NYSE:VOYA) had its target price decreased by equities research analysts at Piper Sandler from $91.00 to $84.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the asset manager’s stock. Piper Sandler’s target price indicates a potential upside of 25.86% from the company’s previous close.

Several other analysts have also recently commented on the stock. JPMorgan Chase & Co. cut shares of Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 target price for the company. in a research note on Thursday, October 3rd. Raymond James downgraded shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, September 13th. Barclays dropped their target price on Voya Financial from $85.00 to $81.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 10th. Royal Bank of Canada reduced their price target on Voya Financial from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Finally, Bank of America reaffirmed a “neutral” rating and set a $83.00 price objective (down previously from $91.00) on shares of Voya Financial in a report on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.08.

Voya Financial Stock Performance

Shares of VOYA stock opened at $66.74 on Wednesday. The stock’s 50-day moving average price is $79.73 and its 200 day moving average price is $74.90. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $6.42 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 0.54 and a beta of 1.02. Voya Financial has a 52-week low of $63.11 and a 52-week high of $84.30.

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

Insider Activity at Voya Financial

In other Voya Financial news, insider Tony D. Oh sold 715 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were 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 SEC, which is available at the SEC website. 1.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. FMR LLC increased its position in Voya Financial by 25.9% during the 3rd quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock worth $228,474,000 after purchasing an additional 592,523 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Voya Financial by 13.8% during the 2nd 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 during the last quarter. Leeward Investments LLC MA purchased a new stake in shares of Voya Financial during the third quarter worth about $19,269,000. Renaissance Technologies LLC acquired a new position in shares of Voya Financial in the second quarter valued at approximately $13,013,000. Finally, AQR Capital Management LLC raised its position 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 last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

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.