Confluence Wealth Services Inc. Makes New $465,000 Investment in Voya Financial, Inc. (NYSE:VOYA)

Confluence Wealth Services Inc. acquired a new stake in shares of Voya Financial, Inc. (NYSE:VOYA) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,293 shares of the asset manager’s stock, valued at approximately $465,000.

Several other hedge funds and other institutional investors have also made changes to their positions in VOYA. SG Americas Securities LLC bought a new position in shares of Voya Financial during the third quarter valued at approximately $1,573,000. State of Alaska Department of Revenue increased its stake in Voya Financial by 3.2% in the third quarter. State of Alaska Department of Revenue now owns 12,571 shares of the asset manager’s stock worth $835,000 after purchasing an additional 390 shares during the period. Caprock Group LLC purchased a new stake in Voya Financial in the third quarter worth $204,000. Oak Thistle LLC bought a new stake in shares of Voya Financial during the third quarter worth $489,000. Finally, YHB Investment Advisors Inc. boosted its stake in shares of Voya Financial by 100.0% during the third quarter. YHB Investment Advisors Inc. now owns 36,840 shares of the asset manager’s stock valued at $2,545,000 after purchasing an additional 18,420 shares during the period. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Wall Street Analyst Weigh In

VOYA has been the topic of several recent analyst reports. Wells Fargo & Company raised their price target on shares of Voya Financial from $85.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Piper Sandler lifted their price target on shares of Voya Financial from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Morgan Stanley dropped their price objective on Voya Financial from $79.00 to $78.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. Evercore ISI raised their price objective on Voya Financial from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $82.00 target price on shares of Voya Financial in a report on Monday, January 8th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.50.

Voya Financial Stock Down 1.3 %

Shares of VOYA stock traded down $0.91 during mid-day trading on Tuesday, hitting $68.16. 1,081,516 shares of the stock traded hands, compared to its average volume of 892,358. Voya Financial, Inc. has a 52-week low of $63.02 and a 52-week high of $77.28. The stock has a market cap of $6.91 billion, a P/E ratio of 12.71, a P/E/G ratio of 0.46 and a beta of 1.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.30 and a quick ratio of 0.30. The stock’s fifty day moving average is $69.73 and its two-hundred day moving average is $70.36.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, February 6th. The asset manager reported $1.97 EPS for the quarter, topping the consensus estimate of $1.95 by $0.02. The firm 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%. Equities analysts predict that Voya Financial, Inc. will post 8.39 EPS for the current year.

Voya Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Tuesday, May 28th will be given a $0.40 dividend. The ex-dividend date is Friday, May 24th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.35%. Voya Financial’s payout ratio is 29.47%.

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.