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

Voya Financial (NYSE:VOYA) had its price objective cut by equities research analysts at Piper Sandler from $91.00 to $84.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the asset manager’s stock. Piper Sandler’s price objective suggests a potential upside of 23.02% from the company’s previous close.

VOYA has been the subject of a number of other reports. Bank of America reiterated a “neutral” rating and issued a $83.00 price target (down from $91.00) on shares of Voya Financial in a research report on Wednesday, December 11th. Barclays cut their price target on Voya Financial from $85.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday, December 10th. Raymond James downgraded Voya Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, September 13th. Wells Fargo & Company dropped their price objective on Voya Financial from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. downgraded Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 target price on the stock. in a research note on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.08.

Voya Financial Stock Performance

NYSE:VOYA traded up $0.21 during trading hours on Wednesday, reaching $68.28. The company had a trading volume of 215,158 shares, compared to its average volume of 822,259. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 0.54 and a beta of 1.02. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54. The firm’s 50 day moving average price is $80.21 and its 200-day moving average price is $75.02. 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 quarterly 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. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.86 billion. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.07 EPS. On average, analysts forecast that Voya Financial will post 8.09 EPS for the current year.

Insider Transactions at Voya Financial

In other Voya Financial news, insider Tony D. Oh sold 715 shares of the business’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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Voya Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Voya Financial during the 2nd quarter worth about $196,000. Wealth Enhancement Advisory Services LLC boosted its position in Voya Financial by 15.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,496 shares of the asset manager’s stock valued at $818,000 after buying an additional 1,533 shares during the last quarter. Easterly Investment Partners LLC increased its holdings in Voya Financial by 49.4% in the 2nd quarter. Easterly Investment Partners LLC now owns 98,619 shares of the asset manager’s stock worth $7,017,000 after buying an additional 32,622 shares during the period. Catalyst Financial Partners LLC raised its position in Voya Financial by 10.6% during the 2nd quarter. Catalyst Financial Partners LLC now owns 3,729 shares of the asset manager’s stock worth $265,000 after buying an additional 358 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Voya Financial by 1,643.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 14,544 shares of the asset manager’s stock valued at $1,035,000 after acquiring an additional 13,710 shares during the period. 96.10% of the stock is owned by hedge funds and other 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.