M&G PLC cut its stake in Voya Financial, Inc. (NYSE:VOYA – Free Report) by 16.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 152,530 shares of the asset manager’s stock after selling 30,255 shares during the quarter. M&G PLC owned about 0.17% of Voya Financial worth $14,338,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Voya Financial in the second quarter valued at approximately $850,187,000. Bank of New York Mellon Corp bought a new stake in Voya Financial during the 2nd quarter worth approximately $520,280,000. Pzena Investment Management LLC purchased a new stake in Voya Financial in the 2nd quarter worth approximately $319,539,000. Dimensional Fund Advisors LP boosted its holdings in Voya Financial by 10.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,699,676 shares of the asset manager’s stock valued at $184,436,000 after purchasing an additional 248,935 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Voya Financial by 280.8% in the 1st quarter. First Trust Advisors LP now owns 526,864 shares of the asset manager’s stock valued at $35,995,000 after purchasing an additional 388,520 shares during the period. 96.10% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on VOYA shares. Wells Fargo & Company decreased their price target on shares of Voya Financial from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Monday, October 12th. Weiss Ratings raised Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 29th. TD Cowen lifted their price objective on Voya Financial from $112.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Evercore reaffirmed an “outperform” rating and issued a $111.00 price target on shares of Voya Financial in a report on Friday, August 7th. Finally, Atlantic Securities set a $79.00 price target on Voya Financial in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Voya Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.69.
Get Our Latest Stock Report on Voya Financial
Insider Activity at Voya Financial
In other news, insider Trevor Ogle sold 2,093 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $95.81, for a total value of $200,530.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.57% of the company’s stock.
Voya Financial Stock Down 0.2%
VOYA opened at $104.43 on Wednesday. The business’s fifty day simple moving average is $98.71 and its 200 day simple moving average is $87.11. Voya Financial, Inc. has a 52 week low of $64.50 and a 52 week high of $106.79. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.61. The stock has a market cap of $9.33 billion, a PE ratio of 16.79, a P/E/G ratio of 1.05 and a beta of 0.85.
Voya Financial (NYSE:VOYA – Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.01. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. Voya Financial had a return on equity of 12.67% and a net margin of 7.75%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.45 earnings per share. As a group, research analysts expect that Voya Financial, Inc. will post 9.16 earnings per share for the current fiscal year.
Voya Financial Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, November 24th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 24th. This is an increase from Voya Financial’s previous quarterly dividend of $0.47. This represents a $2.28 dividend on an annualized basis and a yield of 2.2%. Voya Financial’s dividend payout ratio (DPR) is 36.66%.
About Voya Financial
Voya Financial, Inc. is a U.S.-based financial services company focused on workplace benefits, retirement plans and investment management. It serves employers, plan sponsors, institutions and individuals, primarily in the United States. The company provides workplace retirement savings plans and related services, along with employee benefits such as group life, disability and supplemental health coverage. Through its investment management business, Voya offers investment strategies and services to institutional and individual clients.
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