Forum Financial Management LP Boosts Holdings in Voya Financial, Inc. $VOYA

Forum Financial Management LP raised its stake in shares of Voya Financial, Inc. (NYSE:VOYA) by 9.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,055 shares of the asset manager’s stock after purchasing an additional 346 shares during the period. Forum Financial Management LP’s holdings in Voya Financial were worth $288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VOYA. IFP Advisors Inc lifted its holdings in Voya Financial by 225.6% during the second quarter. IFP Advisors Inc now owns 433 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 300 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Voya Financial during the first quarter valued at $47,000. Geneos Wealth Management Inc. lifted its holdings in Voya Financial by 44.0% during the first quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock valued at $49,000 after purchasing an additional 223 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Voya Financial by 142.9% during the first quarter. Bessemer Group Inc. now owns 1,343 shares of the asset manager’s stock valued at $91,000 after purchasing an additional 790 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Voya Financial by 28.1% during the first quarter. GAMMA Investing LLC now owns 1,544 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 339 shares in the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays increased their price objective on shares of Voya Financial from $81.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price target on shares of Voya Financial from $83.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Wells Fargo & Company raised their price target on shares of Voya Financial from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. UBS Group raised their price target on shares of Voya Financial from $87.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Finally, Royal Bank Of Canada raised their price target on shares of Voya Financial from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Voya Financial currently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Voya Financial Price Performance

Voya Financial stock opened at $73.53 on Monday. Voya Financial, Inc. has a 12-month low of $52.43 and a 12-month high of $84.30. The stock has a market cap of $7.09 billion, a P/E ratio of 14.71, a PEG ratio of 0.53 and a beta of 0.98. The company has a 50-day moving average price of $75.13 and a 200 day moving average price of $69.94. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.44.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, August 5th. The asset manager reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.31. Voya Financial had a net margin of 6.73% and a return on equity of 13.72%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the business earned $2.18 earnings per share. Voya Financial’s revenue was down 2.6% compared to the same quarter last year. Sell-side analysts anticipate that Voya Financial, Inc. will post 8.39 earnings per share for the current year.

Voya Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Tuesday, August 26th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, August 26th. Voya Financial’s dividend payout ratio (DPR) is presently 36.00%.

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.