3,529,646 Shares in Voya Financial, Inc. $VOYA Bought by Pzena Investment Management LLC

Key Points

• Pzena Investment Management acquired 3.53 million Voya Financial shares worth approximately $319.5 million, giving it a 3.89% stake. Institutional investors collectively own 96.1% of the company.
• Analysts maintain a “Moderate Buy” consensus on VOYA, with an average price target of $102.54; UBS raised its target to $125 and RBC to $110.
• Voya reported quarterly EPS of $1.51, below the $1.98 consensus estimate, while revenue fell 4.3% year over year. The company declared a quarterly dividend of $0.47 per share, implying a 1.9% annual yield.

Pzena Investment Management LLC acquired a new position in Voya Financial, Inc. (NYSE:VOYA - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,529,646 shares of the asset manager's stock, valued at approximately $319,539,000. Pzena Investment Management LLC owned 3.89% of Voya Financial at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allworth Financial LP raised its holdings in Voya Financial by 75.5% in the third quarter. Allworth Financial LP now owns 351 shares of the asset manager's stock valued at $26,000 after buying an additional 151 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in Voya Financial during the fourth quarter worth approximately $28,000. Systematic Financial Management LP acquired a new stake in shares of Voya Financial in the fourth quarter worth $37,000. Root Financial Partners LLC increased its position in shares of Voya Financial by 59.6% in the first quarter. Root Financial Partners LLC now owns 573 shares of the asset manager's stock worth $39,000 after acquiring an additional 214 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Voya Financial by 625.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager's stock valued at $39,000 after acquiring an additional 475 shares during the period. 96.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on VOYA shares. Weiss Ratings cut shares of Voya Financial from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Wells Fargo & Company raised their price objective on Voya Financial from $89.00 to $100.00 and gave the company an "equal weight" rating in a research report on Thursday, July 9th. Atlantic Securities set a $79.00 price objective on Voya Financial in a research note on Wednesday, July 15th. Royal Bank Of Canada upped their target price on Voya Financial from $107.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Finally, UBS Group increased their target price on Voya Financial from $95.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Voya Financial currently has a consensus rating of "Moderate Buy" and an average target price of $102.54.

Insider Activity

In other news, insider Trevor Ogle sold 3,994 shares of Voya Financial stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $90.00, for a total transaction of $359,460.00. Following the sale, the insider directly owned 2,887 shares of the company's stock, valued at approximately $259,830. The trade was a 58.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.57% of the company's stock.

Voya Financial Price Performance

Shares of VOYA stock opened at $100.00 on Tuesday. The firm has a fifty day simple moving average of $96.05 and a 200-day simple moving average of $82.16. The company has a market capitalization of $9.06 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 0.97 and a beta of 0.89. Voya Financial, Inc. has a twelve month low of $64.50 and a twelve month high of $103.85. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51.

Voya Financial (NYSE:VOYA - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.47). Voya Financial had a return on equity of 12.31% and a net margin of 7.45%.The firm had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.90 billion. During the same period last year, the firm earned $1.66 EPS. The business's quarterly revenue was down 4.3% on a year-over-year basis. Equities research analysts anticipate that Voya Financial, Inc. will post 9.3 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Wednesday, August 26th will be paid a dividend of $0.47 per share. The ex-dividend date is Wednesday, August 26th. This represents a $1.88 annualized dividend and a dividend yield of 1.9%. Voya Financial's dividend payout ratio (DPR) is currently 31.70%.

Voya Financial Company Profile

Voya Financial, Inc NYSE: VOYA is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya's operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya's core business activities span three key segments: Retirement, Investment Management and Employee Benefits.

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