Piper Sandler Has Lowered Expectations for Voya Financial (NYSE:VOYA) Stock Price

Voya Financial (NYSE:VOYA) had its target price lowered by Piper Sandler from $91.00 to $84.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the asset manager’s stock.

Other research analysts have also recently issued reports about the company. Bank of America reaffirmed a “neutral” rating and issued a $83.00 target price (down from $91.00) on shares of Voya Financial in a research report on Wednesday, December 11th. UBS Group raised shares of Voya Financial to a “strong-buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. cut shares of 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. Barclays cut their price target on shares of Voya Financial from $85.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada lowered their price objective on Voya Financial from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Seven investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.08.

Voya Financial Stock Down 0.8 %

Shares of VOYA stock 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 firm has a market cap of $6.30 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 0.54 and a beta of 1.02. The stock has a 50 day moving average of $80.00 and a 200-day moving average of $74.96. Voya Financial has a 12 month low of $63.11 and a 12 month 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 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 business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business earned $2.07 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts predict that Voya Financial will post 8.09 EPS for the current year.

Voya Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $1.80 annualized dividend and a dividend yield of 2.75%. Voya Financial’s dividend payout ratio (DPR) is currently 28.66%.

Insider Buying and Selling

In related news, insider Tony D. Oh sold 715 shares of Voya Financial 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of VOYA. Arjuna Capital lifted its holdings in Voya Financial by 0.8% in the second quarter. Arjuna Capital now owns 19,685 shares of the asset manager’s stock valued at $1,401,000 after buying an additional 161 shares during the period. US Bancorp DE raised its position in shares of 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 during the last quarter. First Trust Direct Indexing L.P. raised its position in shares of 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 valued at $261,000 after acquiring an additional 210 shares during the last quarter. UMB Bank n.a. boosted its position 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 worth $35,000 after purchasing an additional 239 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Voya Financial by 2.2% during the third quarter. State of Alaska Department of Revenue now owns 11,426 shares of the asset manager’s stock worth $905,000 after purchasing an additional 245 shares during the period. Institutional investors own 96.10% of the company’s stock.

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.