Voya Financial (NYSE:VOYA) Price Target Raised to $88.00 at Piper Sandler

Voya Financial (NYSE:VOYA) had its price target hoisted by stock analysts at Piper Sandler from $84.00 to $88.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the asset manager’s stock. Piper Sandler’s price target suggests a potential upside of 12.32% from the stock’s current price.

VOYA has been the subject of several other research reports. Jefferies Financial Group raised their price target on shares of Voya Financial from $78.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Barclays began coverage on shares of Voya Financial in a report on Wednesday, September 4th. They issued an “overweight” rating and a $84.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $83.00 price objective on shares of Voya Financial in a report on Wednesday, August 7th. Evercore ISI raised their price objective on shares of Voya Financial from $79.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, Wells Fargo & Company reduced their price objective on shares of Voya Financial from $91.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.82.

Voya Financial Stock Performance

Shares of VOYA stock opened at $78.35 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. Voya Financial has a 52 week low of $63.02 and a 52 week high of $79.82. The stock has a market capitalization of $7.89 billion, a PE ratio of 11.15, a P/E/G ratio of 0.58 and a beta of 1.03. The firm has a 50 day moving average of $71.57 and a two-hundred day moving average of $71.83.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, July 30th. The asset manager reported $2.27 EPS for the quarter, beating the consensus estimate of $2.14 by $0.13. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company posted $2.31 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, research analysts predict that Voya Financial will post 8.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Voya Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SYSTM Wealth Solutions LLC grew its position in Voya Financial by 56.2% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock worth $31,000 after purchasing an additional 149 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new position in Voya Financial during the 1st quarter worth $43,000. Allspring Global Investments Holdings LLC grew its position in Voya Financial by 6,850.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock worth $62,000 after purchasing an additional 822 shares during the last quarter. Quarry LP purchased a new position in Voya Financial during the 2nd quarter worth $61,000. Finally, Mather Group LLC. purchased a new stake in shares of Voya Financial in the first quarter valued at about $85,000. 96.10% of the stock is currently owned by institutional investors and hedge funds.

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.