Raymond James Financial Inc. Acquires New Position in Voya Financial, Inc. (NYSE:VOYA)

Raymond James Financial Inc. purchased a new position in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 116,481 shares of the asset manager's stock, valued at approximately $8,018,000. Raymond James Financial Inc. owned about 0.12% of Voya Financial as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Voya Financial by 15.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager's stock worth $445,487,000 after acquiring an additional 876,399 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Voya Financial by 277.8% in the fourth quarter. Impax Asset Management Group plc now owns 2,898,785 shares of the asset manager's stock valued at $199,062,000 after purchasing an additional 2,131,578 shares during the period. FMR LLC raised its stake in shares of Voya Financial by 25.9% in the third quarter. FMR LLC now owns 2,884,044 shares of the asset manager's stock worth $228,474,000 after purchasing an additional 592,523 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Voya Financial by 1.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager's stock worth $212,152,000 after purchasing an additional 38,438 shares during the period. Finally, GW&K Investment Management LLC boosted its position in Voya Financial by 0.8% in the fourth quarter. GW&K Investment Management LLC now owns 1,012,964 shares of the asset manager's stock valued at $69,722,000 after buying an additional 8,024 shares during the last quarter. Institutional investors and hedge funds own 96.10% of the company's stock.

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Voya Financial Price Performance

Shares of Voya Financial stock traded up $0.22 on Wednesday, reaching $70.02. The company's stock had a trading volume of 943,382 shares, compared to its average volume of 808,683. Voya Financial, Inc. has a 52-week low of $64.10 and a 52-week high of $84.30. The company has a market capitalization of $6.69 billion, a P/E ratio of 11.44, a PEG ratio of 0.48 and a beta of 1.03. The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $70.49 and a 200-day moving average price of $74.51.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The asset manager reported $1.50 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. Analysts expect that Voya Financial, Inc. will post 8.39 EPS for the current year.

Voya Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, February 25th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Tuesday, February 25th. Voya Financial's dividend payout ratio is presently 29.41%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler decreased their price objective on shares of Voya Financial from $91.00 to $84.00 and set an "overweight" rating for the company in a research note on Wednesday, December 18th. JPMorgan Chase & Co. decreased their target price on shares of Voya Financial from $87.00 to $82.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Evercore ISI cut their price target on Voya Financial from $94.00 to $89.00 and set an "outperform" rating on the stock in a research report on Tuesday, December 10th. Wells Fargo & Company lifted their price objective on Voya Financial from $76.00 to $79.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods lowered their target price on Voya Financial from $90.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $83.55.

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.