Voya Financial’s (VOYA) “Overweight” Rating Reiterated at Piper Sandler

Voya Financial (NYSE:VOYA)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Sandler in a report released on Monday, Benzinga reports. They presently have a $84.00 price objective on the asset manager’s stock. Piper Sandler’s price objective points to a potential upside of 8.11% from the company’s current price.

Several other equities research analysts have also recently weighed in on VOYA. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $83.00 price target on shares of Voya Financial in a research note on Wednesday, August 7th. Raymond James downgraded shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, September 13th. Barclays assumed coverage on shares of Voya Financial in a research note on Wednesday, September 4th. They set an “overweight” rating and a $84.00 price objective on the stock. Citigroup raised their target price on shares of Voya Financial from $86.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Bank of America boosted their price target on Voya Financial from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.45.

Voya Financial Price Performance

Shares of Voya Financial stock opened at $77.70 on Monday. The firm has a market cap of $7.82 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 0.56 and a beta of 1.03. The company’s fifty day simple moving average is $70.78 and its two-hundred day simple moving average is $71.46. 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 12-month low of $63.02 and a 12-month high of $78.12.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results 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 business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The firm’s revenue for the quarter 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. As a group, equities analysts expect that Voya Financial will post 8.45 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VOYA. Sanctuary Advisors LLC purchased a new stake in Voya Financial in the 2nd quarter worth $319,000. Quarry LP bought a new position in shares of Voya Financial in the second quarter worth about $61,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Voya Financial by 114.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,494 shares of the asset manager’s stock worth $604,000 after purchasing an additional 4,540 shares in the last quarter. Creative Planning raised its stake in Voya Financial by 15.3% during the 2nd quarter. Creative Planning now owns 7,216 shares of the asset manager’s stock valued at $513,000 after purchasing an additional 958 shares during the period. Finally, Algert Global LLC purchased a new position in Voya Financial in the 2nd quarter worth approximately $2,863,000. 96.10% of the stock is currently owned by institutional investors.

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.