Voya Financial (NYSE:VOYA) Price Target Cut to $84.00 by Analysts at Piper Sandler

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

VOYA has been the subject of a number of other research reports. Royal Bank of Canada cut their price objective on Voya Financial from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Bank of America reaffirmed a “neutral” rating and set a $83.00 target price (down from $91.00) on shares of Voya Financial in a research report on Wednesday, December 11th. Barclays dropped their price target on Voya Financial from $85.00 to $81.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 10th. Evercore ISI reduced their price objective on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a research note on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods decreased their target price 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. Seven research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.08.

Voya Financial Price Performance

NYSE:VOYA opened at $65.43 on Wednesday. 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 business’s 50-day moving average price is $80.00 and its 200 day moving average price is $74.96. Voya Financial has a 52-week low of $63.11 and a 52-week high of $84.30. The firm has a market cap of $6.30 billion, a P/E ratio of 10.42, a PEG ratio of 0.54 and a beta of 1.02.

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

Voya Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, November 26th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $1.80 dividend on an annualized basis and a yield of 2.75%. Voya Financial’s payout ratio is 28.66%.

Insider Activity

In other news, insider Tony D. Oh sold 715 shares of the firm’s stock in a transaction dated 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 available through the SEC website. 1.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Voya Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in Voya Financial in the third quarter worth approximately $29,000. UMB Bank n.a. lifted its stake in shares of Voya Financial by 118.9% in the 3rd quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 239 shares during the last quarter. Quarry LP bought a new stake in Voya Financial in the second quarter worth $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 buying an additional 801 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in Voya Financial during the third quarter valued at about $79,000. 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.