Weiss Asset Management LP bought a new stake in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,600 shares of the asset manager's stock, valued at approximately $919,000.
Several other hedge funds also recently modified their holdings of VOYA. V Square Quantitative Management LLC purchased a new position in shares of Voya Financial during the third quarter valued at approximately $29,000. UMB Bank n.a. boosted its position 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 last quarter. Quarry LP purchased a new position in Voya Financial in the second quarter worth $61,000. Blue Trust Inc. boosted its position in Voya Financial by 3,640.9% in the third quarter. Blue Trust Inc. now owns 823 shares of the asset manager's stock worth $65,000 after purchasing an additional 801 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in Voya Financial in the third quarter worth $79,000. Hedge funds and other institutional investors own 96.10% of the company's stock.
Analysts Set New Price Targets
Several research firms have weighed in on VOYA. Bank of America boosted their price objective on Voya Financial from $84.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Morgan Stanley cut their price objective on Voya Financial from $76.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Monday, August 19th. Raymond James cut Voya Financial from a "strong-buy" rating to a "market perform" rating in a research report on Friday, September 13th. Barclays boosted their price objective on Voya Financial from $84.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Finally, Piper Sandler upped their price target on Voya Financial from $88.00 to $91.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Six 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $86.00.
Read Our Latest Research Report on VOYA
Voya Financial Stock Performance
Shares of NYSE:VOYA traded down $1.39 during midday trading on Monday, reaching $79.72. 822,880 shares of the company traded hands, compared to its average volume of 807,980. 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, Inc. has a 12 month low of $63.11 and a 12 month high of $84.30. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 0.56 and a beta of 1.02. The firm's fifty day moving average price is $81.05 and its two-hundred day moving average price is $75.10.
Voya Financial (NYSE:VOYA - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 earnings per share (EPS) 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 period in the previous year, the company posted $2.07 EPS. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts expect that Voya Financial, Inc. will post 8.4 earnings per share for the current year.
Voya Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, November 26th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $1.80 dividend on an annualized basis and a yield of 2.26%. Voya Financial's dividend payout ratio is currently 28.66%.
Insiders Place Their Bets
In other Voya Financial news, insider Tony D. Oh sold 715 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total value of $58,594.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.37% of the company's stock.
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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