Ieq Capital LLC bought a new position in shares of Voya Financial, Inc. (NYSE:VOYA – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 42,119 shares of the asset manager’s stock, valued at approximately $3,813,000.
A number of other hedge funds have also added to or reduced their stakes in the business. Allworth Financial LP lifted its position in Voya Financial by 75.5% during the 3rd quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock worth $26,000 after buying an additional 151 shares in the last quarter. Danske Bank A S bought a new position in shares of Voya Financial in the 2nd quarter valued at about $27,000. Atlas Capital Advisors Inc. bought a new position in shares of Voya Financial in the 4th quarter valued at about $28,000. Systematic Financial Management LP acquired a new stake in shares of Voya Financial in the fourth quarter valued at about $37,000. Finally, Root Financial Partners LLC raised its holdings in Voya Financial by 59.6% during the first quarter. Root Financial Partners LLC now owns 573 shares of the asset manager’s stock worth $39,000 after acquiring an additional 214 shares in the last quarter. Institutional investors own 96.10% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently commented on the company. Wells Fargo & Company increased their price target on Voya Financial from $100.00 to $104.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Morgan Stanley upped their price objective on Voya Financial from $92.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday. Evercore reissued an “outperform” rating and issued a $111.00 price objective on shares of Voya Financial in a report on Friday, August 7th. Keefe, Bruyette & Woods raised their target price on shares of Voya Financial from $109.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group boosted their target price on shares of Voya Financial from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.85.
Insiders Place Their Bets
In related news, insider Trevor Ogle sold 3,994 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $90.00, for a total value of $359,460.00. Following the sale, the insider owned 2,887 shares in the company, valued at approximately $259,830. This represents a 58.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Trading Up 1.3%
Shares of NYSE:VOYA opened at $99.07 on Tuesday. Voya Financial, Inc. has a 52-week low of $64.50 and a 52-week high of $103.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market capitalization of $8.98 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89. The company has a 50-day simple moving average of $96.89 and a 200 day simple moving average of $82.95.
Voya Financial (NYSE:VOYA – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.47). Voya Financial had a net margin of 7.45% and a return on equity of 12.31%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the company earned $1.66 EPS. Voya Financial’s quarterly revenue was down 4.3% on a year-over-year basis. Sell-side analysts forecast that Voya Financial, Inc. will post 9.27 earnings per share for the current year.
Voya Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Wednesday, August 26th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.9%. Voya Financial’s payout ratio is presently 31.70%.
Voya Financial Profile
Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.
Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.
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