Allspring Global Investments Holdings LLC Raises Position in Voya Financial, Inc. $VOYA

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Voya Financial, Inc. by 2.9%, holding approximately 0.18% of the company valued at $12.45 million.
• Several analysts have raised their price targets for Voya Financial, with Morgan Stanley setting a new target at $91.00 and JPMorgan Chase & Co. at $89.00, reflecting a positive outlook on the stock.
• Voya Financial recently declared a quarterly dividend of $0.45 per share, translating to an annualized dividend yield of 2.5%.

Allspring Global Investments Holdings LLC grew its position in Voya Financial, Inc. (NYSE:VOYA - Free Report) by 2.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 171,719 shares of the asset manager's stock after buying an additional 4,806 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.18% of Voya Financial worth $12,451,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bessemer Group Inc. grew its stake in shares of Voya Financial by 142.9% in the first quarter. Bessemer Group Inc. now owns 1,343 shares of the asset manager's stock worth $91,000 after acquiring an additional 790 shares during the period. Principal Financial Group Inc. grew its stake in shares of Voya Financial by 0.3% in the first quarter. Principal Financial Group Inc. now owns 221,385 shares of the asset manager's stock worth $15,001,000 after acquiring an additional 574 shares during the period. FORA Capital LLC bought a new stake in shares of Voya Financial in the first quarter worth approximately $894,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Voya Financial in the first quarter worth approximately $385,000. Finally, Jane Street Group LLC grew its stake in shares of Voya Financial by 247.1% in the first quarter. Jane Street Group LLC now owns 190,035 shares of the asset manager's stock worth $12,877,000 after acquiring an additional 135,292 shares during the period. 96.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on VOYA. Morgan Stanley lifted their price target on shares of Voya Financial from $90.00 to $91.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 7th. Royal Bank Of Canada lifted their price target on shares of Voya Financial from $80.00 to $87.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Weiss Ratings restated a "buy (b-)" rating on shares of Voya Financial in a research report on Wednesday, October 8th. Barclays boosted their target price on shares of Voya Financial from $81.00 to $83.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Voya Financial from $80.00 to $89.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $85.00.

Voya Financial Stock Performance

VOYA opened at $73.22 on Friday. The firm has a market cap of $7.06 billion, a P/E ratio of 14.64, a PEG ratio of 0.52 and a beta of 0.98. Voya Financial, Inc. has a 1-year low of $52.43 and a 1-year high of $84.30. The company has a 50 day simple moving average of $75.12 and a two-hundred day simple moving average of $69.28. 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 posted its quarterly earnings results on Tuesday, August 5th. The asset manager reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $2.09 by $0.31. The business 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%. The company's revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.18 earnings per share. Equities analysts forecast 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 Friday, September 26th. Shareholders of record on Tuesday, August 26th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, August 26th. Voya Financial's dividend payout ratio 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.

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