Voya Financial (NYSE:VOYA) Stock Price Expected to Rise, Piper Sandler Analyst Says

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

Several other equities research analysts also recently commented on VOYA. Royal Bank of Canada boosted their target price on Voya Financial from $83.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Raymond James cut Voya Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, September 13th. Jefferies Financial Group boosted their price target on Voya Financial from $78.00 to $80.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Barclays boosted their price target on Voya Financial from $84.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Evercore ISI boosted their price target on Voya Financial from $79.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Voya Financial currently 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 trading hours on Thursday, reaching $81.75. The company’s stock had a trading volume of 458,656 shares, compared to its average volume of 821,211. The stock has a market capitalization of $8.04 billion, a P/E ratio of 12.94, a P/E/G ratio of 0.59 and a beta of 1.03. Voya Financial has a one year low of $63.11 and a one year high of $83.93. The firm’s fifty day simple moving average is $77.94 and its 200 day simple moving average is $73.58. The company has a current ratio of 0.41, a quick ratio of 0.30 and a debt-to-equity ratio of 0.54.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.07. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The company 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 company posted $2.07 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. Equities research analysts expect that Voya Financial will post 8.27 EPS for the current year.

Voya Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, November 26th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Tuesday, November 26th. Voya Financial’s dividend payout ratio (DPR) is 28.66%.

Insider Transactions at Voya Financial

In other news, insider Tony D. Oh sold 715 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total value of $58,594.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Voya Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in Voya Financial by 1,020.2% during 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 purchasing an additional 2,156,773 shares during the period. Boston Partners raised its position in Voya Financial by 83.8% during the first quarter. Boston Partners now owns 2,525,604 shares of the asset manager’s stock valued at $186,310,000 after purchasing an additional 1,151,822 shares during the period. Vanguard Group Inc. raised its position in Voya Financial by 6.2% during 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 period. Dimensional Fund Advisors LP raised its holdings 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 worth $146,234,000 after buying an additional 248,795 shares during the period. Finally, Leeward Investments LLC MA purchased a new stake in shares of Voya Financial in the third quarter worth approximately $19,269,000. 96.10% of the stock is owned by 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.