Retirement Systems of Alabama Acquires 20,750 Shares of Voya Financial, Inc. (NYSE:VOYA)

Retirement Systems of Alabama boosted its holdings in Voya Financial, Inc. (NYSE:VOYA - Free Report) by 8.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 272,339 shares of the asset manager's stock after purchasing an additional 20,750 shares during the period. Retirement Systems of Alabama owned about 0.28% of Voya Financial worth $21,575,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Arjuna Capital raised its holdings in Voya Financial by 0.8% during the second quarter. Arjuna Capital now owns 19,685 shares of the asset manager's stock worth $1,401,000 after purchasing an additional 161 shares in the last quarter. US Bancorp DE raised its stake in shares of Voya Financial by 5.8% in the 3rd quarter. US Bancorp DE now owns 3,655 shares of the asset manager's stock worth $290,000 after buying an additional 202 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Voya Financial by 6.8% in the third quarter. First Trust Direct Indexing L.P. now owns 3,291 shares of the asset manager's stock valued at $261,000 after buying an additional 210 shares during the period. UMB Bank n.a. boosted its stake in Voya Financial by 118.9% during the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager's stock valued at $35,000 after buying an additional 239 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Voya Financial by 2.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 11,426 shares of the asset manager's stock valued at $905,000 after purchasing an additional 245 shares in the last quarter. Institutional investors and hedge funds own 96.10% of the company's stock.

Analysts Set New Price Targets

VOYA has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut shares of Voya Financial from an "overweight" rating to a "neutral" rating and set a $87.00 target price for the company. in a report on Thursday, October 3rd. Piper Sandler raised their target price on Voya Financial from $88.00 to $91.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods reduced their price objective on Voya Financial from $95.00 to $92.00 and set an "outperform" rating for the company in a research note on Tuesday, December 10th. Morgan Stanley lowered their target price on Voya Financial from $76.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Monday, August 19th. Finally, Wells Fargo & Company decreased their target price on shares of Voya Financial from $92.00 to $87.00 and set an "overweight" rating for the company in a research note on Tuesday, December 10th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.67.

Voya Financial Stock Down 0.5 %

NYSE:VOYA traded down $0.34 on Friday, hitting $69.83. The stock had a trading volume of 1,003,265 shares, compared to its average volume of 774,777. The company has a market cap of $6.72 billion, a PE ratio of 11.12, a P/E/G ratio of 0.54 and a beta of 1.02. Voya Financial, Inc. has a 52 week low of $63.11 and a 52 week high of $84.30. The business's fifty day moving average is $80.41 and its 200 day moving average is $75.06. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.54.

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

Voya Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Tuesday, November 26th. Voya Financial's dividend payout ratio is currently 28.66%.

Insider Transactions at Voya Financial

In other news, insider Tony D. Oh sold 715 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total value of $58,594.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.37% of the stock is currently owned by company insiders.

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.