Voya Financial (NYSE:VOYA) Given New $88.00 Price Target at Piper Sandler

Voya Financial (NYSE:VOYA) had its price objective upped by Piper Sandler from $84.00 to $88.00 in a research note published on Wednesday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the asset manager’s stock.

Several other research analysts have also issued reports on VOYA. Barclays started coverage on shares of Voya Financial in a research report on Wednesday, September 4th. They issued an overweight rating and a $84.00 price target on the stock. Raymond James lowered shares of Voya Financial from a strong-buy rating to a market perform rating in a research report on Friday, September 13th. Royal Bank of Canada reiterated an outperform rating and set a $83.00 price objective on shares of Voya Financial in a research report on Wednesday, August 7th. Jefferies Financial Group lifted their price objective on shares of Voya Financial from $78.00 to $80.00 and gave the stock a hold rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Voya Financial from $88.00 to $87.00 and set an overweight rating on the stock in a research report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $83.82.

Voya Financial Trading Up 2.1 %

Voya Financial stock opened at $79.97 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 0.59 and a beta of 1.03. Voya Financial has a 1 year low of $63.02 and a 1 year high of $80.16. The firm’s 50 day moving average price is $71.82 and its two-hundred day moving average price is $71.94.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, July 30th. The asset manager reported $2.27 earnings per share (EPS) for the quarter, topping 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 firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.31 earnings per share. On average, research analysts predict that Voya Financial will post 8.41 EPS for the current fiscal year.

Voya Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, August 27th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.25%. This is a positive change from Voya Financial’s previous quarterly dividend of $0.40. Voya Financial’s dividend payout ratio (DPR) is 25.57%.

Institutional Investors Weigh In On Voya Financial

A number of institutional investors have recently modified their holdings of VOYA. SYSTM Wealth Solutions LLC boosted its stake in shares of Voya Financial by 56.2% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock valued at $31,000 after buying an additional 149 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in shares of Voya Financial in the 1st quarter valued at $43,000. Quarry LP acquired a new stake in shares of Voya Financial in the 2nd quarter valued at $61,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Voya Financial by 6,850.0% in the 1st 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 last quarter. Finally, Mather Group LLC. acquired a new stake in shares of Voya Financial in the 1st quarter valued at $85,000. Institutional investors and hedge funds 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.