Principal Financial Group Inc. Sells 107,610 Shares of Voya Financial, Inc. (NYSE:VOYA)

Principal Financial Group Inc. trimmed its position in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) by 32.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 227,819 shares of the asset manager's stock after selling 107,610 shares during the period. Principal Financial Group Inc. owned about 0.24% of Voya Financial worth $18,048,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of Voya Financial in the 3rd quarter worth about $29,000. UMB Bank n.a. grew its holdings in Voya Financial by 118.9% in the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager's stock worth $35,000 after purchasing an additional 239 shares during the period. Blue Trust Inc. increased its stake in shares of Voya Financial by 3,640.9% during the third quarter. Blue Trust Inc. now owns 823 shares of the asset manager's stock valued at $65,000 after purchasing an additional 801 shares in the last quarter. Quarry LP purchased a new position in shares of Voya Financial during the second quarter valued at approximately $61,000. Finally, Brooklyn Investment Group bought a new stake in shares of Voya Financial in the 3rd quarter worth approximately $79,000. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Tony D. Oh sold 715 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total transaction of $58,594.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.37% of the company's stock.

Voya Financial Stock Performance

Shares of NYSE:VOYA traded down $0.18 during midday trading on Friday, hitting $68.59. The company had a trading volume of 436,637 shares, compared to its average volume of 825,466. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 0.54 and a beta of 1.02. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.31 and a quick ratio of 0.31. The company has a fifty day moving average of $78.10 and a two-hundred day moving average of $74.59. Voya Financial, Inc. has a 12-month low of $63.11 and a 12-month high of $84.30.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.07. The business had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.86 billion. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The business's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.07 earnings per share. On average, equities research analysts expect that Voya Financial, Inc. will post 8.09 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Tuesday, November 26th were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.62%. Voya Financial's payout ratio is currently 28.66%.

Wall Street Analysts Forecast Growth

VOYA has been the topic of several analyst reports. Piper Sandler dropped their target price on Voya Financial from $91.00 to $84.00 and set an "overweight" rating on the stock in a report on Wednesday, December 18th. Evercore ISI dropped their price target on shares of Voya Financial from $94.00 to $89.00 and set an "outperform" rating on the stock in a research note on Tuesday, December 10th. Bank of America restated a "neutral" rating and set a $83.00 price objective (down from $91.00) on shares of Voya Financial in a research note on Wednesday, December 11th. Raymond James downgraded shares of Voya Financial from a "strong-buy" rating to a "market perform" rating in a research note on Friday, September 13th. Finally, Wells Fargo & Company reduced their price target on shares of Voya Financial from $92.00 to $87.00 and set an "overweight" rating for the company in a research report on Tuesday, December 10th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $85.08.

About Voya Financial

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.