Allspring Global Investments Holdings LLC Buys 155,038 Shares of Voya Financial, Inc. (NYSE:VOYA)

Allspring Global Investments Holdings LLC boosted its stake in Voya Financial, Inc. (NYSE:VOYA - Free Report) by 1,305.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 166,913 shares of the asset manager's stock after buying an additional 155,038 shares during the period. Allspring Global Investments Holdings LLC owned 0.17% of Voya Financial worth $11,340,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Illinois Municipal Retirement Fund lifted its holdings in Voya Financial by 29.8% in the first quarter. Illinois Municipal Retirement Fund now owns 59,785 shares of the asset manager's stock worth $4,051,000 after buying an additional 13,712 shares during the period. Bessemer Group Inc. increased its stake in shares of Voya Financial by 142.9% during the first quarter. Bessemer Group Inc. now owns 1,343 shares of the asset manager's stock valued at $91,000 after purchasing an additional 790 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Voya Financial by 1.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 22,209 shares of the asset manager's stock valued at $1,505,000 after purchasing an additional 360 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Voya Financial by 36.9% during the first quarter. Blue Trust Inc. now owns 950 shares of the asset manager's stock valued at $64,000 after purchasing an additional 256 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Voya Financial by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 11,271 shares of the asset manager's stock valued at $763,000 after purchasing an additional 300 shares in the last quarter. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Yvette S. Butler sold 1,700 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $66.18, for a total value of $112,506.00. Following the transaction, the director directly owned 355 shares in the company, valued at $23,493.90. This trade represents a 82.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group decreased their target price on shares of Voya Financial from $89.00 to $88.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Barclays set a $70.00 target price on shares of Voya Financial in a research note on Wednesday, May 7th. Wells Fargo & Company raised their target price on shares of Voya Financial from $69.00 to $76.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Morgan Stanley reaffirmed an "overweight" rating and set a $88.00 target price (up previously from $86.00) on shares of Voya Financial in a research note on Tuesday, June 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Voya Financial from $81.00 to $80.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $82.08.

Voya Financial Stock Up 0.3%

VOYA traded up $0.21 during trading on Friday, hitting $72.90. 541,159 shares of the company's stock traded hands, compared to its average volume of 886,950. The company's 50 day simple moving average is $66.95 and its two-hundred day simple moving average is $67.13. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.58. Voya Financial, Inc. has a 12-month low of $52.43 and a 12-month high of $84.30. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.66 and a beta of 1.00.

Voya Financial (NYSE:VOYA - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.56. The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.94 billion. Voya Financial had a return on equity of 14.05% and a net margin of 7.18%. The company's revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the business posted $1.77 EPS. Analysts predict that Voya Financial, Inc. will post 8.39 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, May 27th were paid a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.47%. Voya Financial's dividend payout ratio (DPR) is currently 33.96%.

About Voya Financial

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.