People s United Financial Inc. reduced its stake in shares of Voya Financial, Inc. (NYSE:VOYA) by 52.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,389 shares of the asset manager’s stock after selling 21,449 shares during the quarter. People s United Financial Inc.’s holdings in Voya Financial were worth $929,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Cerity Partners LLC boosted its stake in Voya Financial by 21.3% in the 3rd quarter. Cerity Partners LLC now owns 9,416 shares of the asset manager’s stock worth $451,000 after purchasing an additional 1,655 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Voya Financial by 45.5% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 42,767 shares of the asset manager’s stock valued at $2,050,000 after purchasing an additional 13,364 shares during the last quarter. Andra AP fonden lifted its stake in shares of Voya Financial by 8.2% in the 3rd quarter. Andra AP fonden now owns 144,100 shares of the asset manager’s stock valued at $6,907,000 after purchasing an additional 10,900 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Voya Financial by 3.2% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,874 shares of the asset manager’s stock valued at $1,048,000 after purchasing an additional 668 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Voya Financial by 3.4% in the 3rd quarter. US Bancorp DE now owns 11,445 shares of the asset manager’s stock valued at $550,000 after purchasing an additional 379 shares during the last quarter.
Several equities analysts have recently commented on VOYA shares. Barclays started coverage on Voya Financial in a research note on Thursday, August 13th. They issued an “overweight” rating and a $60.00 price target on the stock. Morgan Stanley boosted their price objective on Voya Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, November 18th. Bank of America reiterated a “buy” rating and issued a $74.00 price objective on shares of Voya Financial in a report on Thursday, October 1st. Wells Fargo & Company began coverage on Voya Financial in a report on Tuesday, August 18th. They issued an “overweight” rating and a $62.00 price objective on the stock. Finally, Truist Financial boosted their price objective on Voya Financial from $45.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $59.64.
VOYA opened at $59.65 on Friday. Voya Financial, Inc. has a one year low of $29.75 and a one year high of $63.81. The company has a market cap of $7.53 billion, a P/E ratio of -9.99 and a beta of 1.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.14 and a current ratio of 0.14. The business’s 50-day simple moving average is $52.19 and its 200-day simple moving average is $48.97.
Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Wednesday, November 4th. The asset manager reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.22). Voya Financial had a negative net margin of 11.29% and a positive return on equity of 6.56%. During the same period in the previous year, the company posted $1.36 earnings per share. As a group, analysts predict that Voya Financial, Inc. will post 3.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 28th. Stockholders of record on Monday, November 30th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.01%. Voya Financial’s payout ratio is currently 14.22%.
In related news, CEO Rodney O. Martin, Jr. sold 84,180 shares of the company’s stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $55.00, for a total value of $4,629,900.00. Corporate insiders own 2.04% of the company’s stock.
About Voya Financial
Voya Financial, Inc operates as a retirement, investment, and employee benefits company in the United States. The company's Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and financial services, as well as financial planning and advisory services.
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