Voya Financial (NYSE:VOYA) PT Raised to $88.00

Voya Financial (NYSE:VOYA) had its price target increased by Piper Sandler from $84.00 to $88.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Piper Sandler’s target price would indicate a potential upside of 12.09% from the stock’s previous close.

A number of other equities research analysts have also recently commented on VOYA. Morgan Stanley reduced their price objective on Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Royal Bank of Canada restated an “outperform” rating and set a $83.00 price target on shares of Voya Financial in a research note on Wednesday, August 7th. Barclays assumed coverage on shares of Voya Financial in a report on Wednesday, September 4th. They set an “overweight” rating and a $84.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on shares of Voya Financial from $88.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Evercore ISI lifted their price target on Voya Financial from $79.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Voya Financial currently has an average rating of “Moderate Buy” and a consensus target price of $83.82.

Voya Financial Stock Down 0.9 %

Voya Financial stock opened at $78.51 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $7.91 billion, a PE ratio of 11.15, a PEG ratio of 0.58 and a beta of 1.03. The firm’s fifty day moving average is $71.30 and its 200 day moving average is $71.72. Voya Financial has a 12-month low of $63.02 and a 12-month high of $79.69.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Tuesday, July 30th. The asset manager reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.13. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.87 billion. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 earnings per share. As a group, sell-side analysts predict that Voya Financial will post 8.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. SYSTM Wealth Solutions LLC boosted its stake in Voya Financial by 56.2% in the first quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 149 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new position in Voya Financial in the first quarter valued at approximately $43,000. Allspring Global Investments Holdings LLC grew its holdings in Voya Financial by 6,850.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 822 shares during the period. Quarry LP purchased a new stake in Voya Financial in the second quarter worth $61,000. Finally, Mather Group LLC. bought a new stake in shares of Voya Financial in the first quarter valued at $85,000. Hedge funds and other 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.