FORA Capital LLC Makes New Investment in Voya Financial, Inc. $VOYA

Key Points

• FORA Capital LLC acquired 13,195 shares of Voya Financial, Inc., representing an investment of approximately $894,000 in the first quarter.
• Voya Financial reported $2.40 EPS for the recent quarter, surpassing estimates and contributing to a net margin of 6.73%.
• The company has announced a quarterly dividend of $0.45, reflecting an annualized dividend yield of 2.4%.

FORA Capital LLC bought a new stake in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,195 shares of the asset manager's stock, valued at approximately $894,000.

A number of other hedge funds also recently made changes to their positions in VOYA. Greenleaf Trust grew its position in Voya Financial by 3.1% during the first quarter. Greenleaf Trust now owns 6,301 shares of the asset manager's stock valued at $427,000 after buying an additional 190 shares during the period. State of Michigan Retirement System boosted its stake in Voya Financial by 0.9% in the first quarter. State of Michigan Retirement System now owns 23,016 shares of the asset manager's stock valued at $1,560,000 after acquiring an additional 200 shares during the last quarter. Fifth Third Bancorp boosted its stake in Voya Financial by 13.7% in the first quarter. Fifth Third Bancorp now owns 1,747 shares of the asset manager's stock valued at $118,000 after acquiring an additional 211 shares during the last quarter. Wealthspire Advisors LLC grew its position in shares of Voya Financial by 7.4% during the 1st quarter. Wealthspire Advisors LLC now owns 3,186 shares of the asset manager's stock valued at $216,000 after acquiring an additional 219 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its stake in shares of Voya Financial by 5.7% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,427 shares of the asset manager's stock worth $300,000 after purchasing an additional 237 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Evercore ISI lifted their price target on shares of Voya Financial from $84.00 to $86.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. UBS Group boosted their target price on Voya Financial from $87.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Morgan Stanley upped their price target on Voya Financial from $89.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. JPMorgan Chase & Co. lifted their price objective on Voya Financial from $80.00 to $89.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Voya Financial from $80.00 to $83.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $83.70.

Voya Financial Price Performance

VOYA stock traded down $0.54 during mid-day trading on Tuesday, reaching $74.55. 961,526 shares of the company traded hands, compared to its average volume of 786,028. The company has a fifty day moving average price of $72.51 and a 200-day moving average price of $67.99. Voya Financial, Inc. has a 52-week low of $52.43 and a 52-week high of $84.30. The company has a market capitalization of $7.19 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.28 and a quick ratio of 0.28.

Voya Financial (NYSE:VOYA - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The asset manager reported $2.40 EPS for the quarter, beating analysts' consensus estimates of $2.09 by $0.31. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.94 billion. Voya Financial had a net margin of 6.73% and a return on equity of 13.72%. Voya Financial's revenue was down 2.6% compared to the same quarter last year. During the same period last year, the business earned $2.18 earnings per share. As a group, analysts anticipate that Voya Financial, Inc. will post 8.39 earnings per share for the current year.

Voya Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, August 26th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 26th. Voya Financial's dividend payout ratio (DPR) is presently 36.00%.

Voya Financial Company Profile

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.