Vestcor Inc grew its stake in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) by 296.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,381 shares of the asset manager's stock after purchasing an additional 7,765 shares during the quarter. Vestcor Inc's holdings in Voya Financial were worth $715,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in VOYA. Impax Asset Management Group plc raised its holdings in shares of Voya Financial by 277.8% during 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 acquiring an additional 2,131,578 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of Voya Financial during the fourth quarter valued at approximately $67,214,000. Bank of New York Mellon Corp raised its holdings in shares of Voya Financial by 15.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager's stock valued at $445,487,000 after acquiring an additional 876,399 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of Voya Financial during the fourth quarter valued at approximately $47,155,000. Finally, FMR LLC raised its holdings in shares of Voya Financial by 25.9% during the third quarter. FMR LLC now owns 2,884,044 shares of the asset manager's stock valued at $228,474,000 after acquiring an additional 592,523 shares in the last quarter. Hedge funds and other institutional investors own 96.10% of the company's stock.
Voya Financial Stock Down 0.2 %
Shares of NYSE:VOYA traded down $0.11 on Thursday, hitting $68.42. 704,914 shares of the company traded hands, compared to its average volume of 803,652. The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 0.59. Voya Financial, Inc. has a 52 week low of $64.10 and a 52 week high of $84.30. The company has a market cap of $6.54 billion, a PE ratio of 11.18, a PEG ratio of 0.48 and a beta of 1.03. The stock has a 50 day simple moving average of $70.40 and a 200-day simple moving average of $74.54.
Voya Financial (NYSE:VOYA - Get Free Report) last released its quarterly earnings data 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 net margin of 8.29% and a return on equity of 14.10%. As a group, research analysts expect that Voya Financial, Inc. will post 8.39 earnings per share for the current year.
Voya Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, February 25th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $1.80 annualized dividend and a dividend yield of 2.63%. Voya Financial's dividend payout ratio (DPR) is presently 29.41%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on VOYA shares. Keefe, Bruyette & Woods decreased their target price on Voya Financial from $90.00 to $84.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price objective on Voya Financial from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Piper Sandler decreased their price objective on Voya Financial from $91.00 to $84.00 and set an "overweight" rating for the company in a report on Wednesday, December 18th. Wells Fargo & Company increased their price objective on Voya Financial from $76.00 to $79.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Finally, Morgan Stanley upgraded Voya Financial from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $76.00 to $87.00 in a report on Friday, February 28th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $83.55.
Check Out Our Latest Report on VOYA
About Voya Financial
(
Free Report)
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.
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