Piper Sandler Boosts Voya Financial (NYSE:VOYA) Price Target to $86.00

Voya Financial (NYSE:VOYA - Free Report) had its price objective hoisted by Piper Sandler from $78.00 to $86.00 in a research note released on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the asset manager's stock.

VOYA has been the subject of several other reports. Royal Bank of Canada decreased their price target on shares of Voya Financial from $85.00 to $83.00 and set an outperform rating for the company in a report on Thursday, February 8th. The Goldman Sachs Group reaffirmed a neutral rating and issued a $82.00 price target on shares of Voya Financial in a report on Monday, January 8th. StockNews.com upgraded shares of Voya Financial from a sell rating to a hold rating in a research report on Saturday, December 30th. Finally, Morgan Stanley cut their price objective on shares of Voya Financial from $79.00 to $78.00 and set an overweight rating on the stock in a research report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $82.11.

Voya Financial Stock Up 0.5 %

VOYA stock traded up $0.34 during mid-day trading on Friday, hitting $71.12. 969,090 shares of the company were exchanged, compared to its average volume of 903,564. The company has a market capitalization of $7.23 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.43 and a beta of 1.06. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.55. Voya Financial has a twelve month low of $63.02 and a twelve month high of $77.78. The firm has a fifty day simple moving average of $70.18 and a 200 day simple moving average of $70.06.

Voya Financial (NYSE:VOYA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The asset manager reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.02. The company had revenue of $236.00 million during the quarter, compared to analyst estimates of $304.66 million. Voya Financial had a net margin of 8.51% and a return on equity of 16.60%. On average, research analysts forecast that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Monday, February 26th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Friday, February 23rd. Voya Financial's dividend payout ratio (DPR) is presently 29.47%.

Institutional Trading of Voya Financial

A number of institutional investors and hedge funds have recently modified their holdings of VOYA. Vanguard Group Inc. raised its stake in Voya Financial by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 10,465,556 shares of the asset manager's stock valued at $695,436,000 after purchasing an additional 752,851 shares during the last quarter. Wellington Management Group LLP raised its stake in Voya Financial by 7.5% during the 1st quarter. Wellington Management Group LLP now owns 7,488,929 shares of the asset manager's stock valued at $496,890,000 after purchasing an additional 519,701 shares during the last quarter. State Street Corp raised its stake in Voya Financial by 0.9% during the 3rd quarter. State Street Corp now owns 3,291,225 shares of the asset manager's stock valued at $199,119,000 after purchasing an additional 29,593 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Voya Financial by 3.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,571,104 shares of the asset manager's stock valued at $153,058,000 after buying an additional 80,147 shares during the period. Finally, Morgan Stanley increased its holdings in Voya Financial by 7.9% in the 4th quarter. Morgan Stanley now owns 2,009,400 shares of the asset manager's stock valued at $123,558,000 after buying an additional 147,414 shares during the period. 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.