5,747,043 Shares in Voya Financial, Inc. $VOYA Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 5.75 million Voya Financial shares worth approximately $520.3 million, giving it a 6.34% stake. Institutional investors collectively own 96.1% of VOYA.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and a $102.85 price target; recent targets range as high as $125.
• 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, equivalent to a 1.9% annual yield.

Bank of New York Mellon Corp bought a new stake in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 5,747,043 shares of the asset manager's stock, valued at approximately $520,280,000. Bank of New York Mellon Corp owned about 6.34% of Voya Financial at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. State of Wyoming acquired a new stake in Voya Financial during the second quarter valued at approximately $243,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Voya Financial in the 2nd quarter valued at approximately $2,045,000. Hardy Reed LLC acquired a new position in shares of Voya Financial in the 2nd quarter worth approximately $222,000. Dockside LLC acquired a new position in shares of Voya Financial in the 2nd quarter worth approximately $1,114,000. Finally, A&I Financial Services LLC lifted its position in shares of Voya Financial by 11.4% during the 2nd quarter. A&I Financial Services LLC now owns 10,608 shares of the asset manager's stock worth $960,000 after buying an additional 1,089 shares during the period. 96.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Trevor Ogle sold 3,994 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $90.00, for a total transaction of $359,460.00. Following the completion of the transaction, the insider directly owned 2,887 shares in the company, valued at $259,830. This represents a 58.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by company insiders.

Analysts Set New Price Targets

VOYA has been the topic of several analyst reports. Atlantic Securities set a $79.00 target price on shares of Voya Financial in a report on Wednesday, July 15th. Morgan Stanley lifted their price target on shares of Voya Financial from $84.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, May 21st. Evercore restated an "outperform" rating and issued a $111.00 price target on shares of Voya Financial in a research report on Friday, August 7th. TD Cowen upped their price objective on shares of Voya Financial from $112.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Finally, UBS Group raised their price objective on shares of Voya Financial from $95.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.85.

Voya Financial Price Performance

NYSE VOYA opened at $97.74 on Friday. The business has a 50 day simple moving average of $96.73 and a 200 day simple moving average of $82.74. Voya Financial, Inc. has a 52-week low of $64.50 and a 52-week high of $103.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 0.94 and a beta of 0.89.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing analysts' consensus estimates of $1.98 by ($0.47). The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.90 billion. Voya Financial had a return on equity of 12.31% and a net margin of 7.45%.The company's revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.66 earnings per share. Analysts anticipate that Voya Financial, Inc. will post 9.27 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

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

About Voya Financial

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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