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

Voya Financial (NYSE:VOYA) had its target price hoisted by equities researchers at Piper Sandler from $88.00 to $91.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Piper Sandler’s price objective would suggest a potential upside of 11.94% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Voya Financial from $87.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Raymond James lowered Voya Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, September 13th. Royal Bank of Canada increased their price target on Voya Financial from $83.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Barclays lifted their price objective on Voya Financial from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Evercore ISI increased their target price on Voya Financial from $79.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.55.

Voya Financial Stock Performance

NYSE:VOYA opened at $81.29 on Thursday. The firm’s fifty day simple moving average is $78.15 and its 200 day simple moving average is $73.67. 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 has a twelve month low of $63.11 and a twelve month high of $83.93. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 0.59 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, topping 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 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 firm posted $2.07 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that Voya Financial will post 8.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Tony D. Oh sold 715 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 accessible through the SEC website. 1.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Voya Financial

Several hedge funds have recently bought and sold shares of the company. Hohimer Wealth Management LLC increased its stake in shares of Voya Financial by 1.7% in the first quarter. Hohimer Wealth Management LLC now owns 8,452 shares of the asset manager’s stock valued at $625,000 after purchasing an additional 140 shares during the period. Arjuna Capital increased its position in Voya Financial by 0.8% in the 2nd quarter. Arjuna Capital now owns 19,685 shares of the asset manager’s stock valued at $1,401,000 after acquiring an additional 161 shares during the period. US Bancorp DE raised its stake in Voya Financial by 5.8% during the 3rd quarter. US Bancorp DE now owns 3,655 shares of the asset manager’s stock valued at $290,000 after acquiring an additional 202 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in Voya Financial by 6.8% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,291 shares of the asset manager’s stock worth $261,000 after acquiring an additional 210 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of Voya Financial by 118.9% in the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after purchasing an additional 239 shares in the last quarter. 96.10% of the stock is currently 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.