Voya Financial, Inc. $VOYA Position Reduced by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. has reduced its stake in Voya Financial, Inc. by 4.2%, now owning 3,199,406 shares valued at approximately $216.7 million.
• Analysts have raised their price targets for Voya Financial, with JPMorgan Chase & Co. increasing theirs from $80.00 to $89.00.
• Voya Financial will pay a quarterly dividend of $0.45 per share on September 26, representing a 2.4% yield.

Ameriprise Financial Inc. lessened its holdings in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) by 4.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,199,406 shares of the asset manager's stock after selling 140,928 shares during the quarter. Ameriprise Financial Inc. owned approximately 3.33% of Voya Financial worth $216,792,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in VOYA. Kelly Financial Group LLC purchased a new position in shares of Voya Financial in the 1st quarter worth $270,680,000. Price T Rowe Associates Inc. MD raised its position in shares of Voya Financial by 23.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,679,580 shares of the asset manager's stock worth $384,849,000 after buying an additional 1,095,190 shares during the period. Balyasny Asset Management L.P. raised its position in shares of Voya Financial by 278.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 460,803 shares of the asset manager's stock worth $31,717,000 after buying an additional 339,139 shares during the period. Wellington Management Group LLP raised its position in shares of Voya Financial by 5.4% in the 1st quarter. Wellington Management Group LLP now owns 5,512,176 shares of the asset manager's stock worth $373,505,000 after buying an additional 280,316 shares during the period. Finally, Algebris UK Ltd raised its position in shares of Voya Financial by 250.0% in the 1st quarter. Algebris UK Ltd now owns 354,351 shares of the asset manager's stock worth $22,206,000 after buying an additional 253,100 shares during the period. 96.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Royal Bank Of Canada increased their target price on Voya Financial from $80.00 to $87.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. JPMorgan Chase & Co. raised their price objective on Voya Financial from $80.00 to $89.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Wells Fargo & Company raised their price objective on Voya Financial from $76.00 to $82.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods raised their price objective on Voya Financial from $80.00 to $83.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley raised their target price on Voya Financial from $89.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Voya Financial presently has an average rating of "Hold" and a consensus price target of $83.70.

Voya Financial Stock Performance

Shares of VOYA traded down $0.67 during mid-day trading on Thursday, reaching $75.14. 130,058 shares of the company's stock traded hands, compared to its average volume of 924,453. The business's 50-day moving average price is $71.91 and its 200-day moving average price is $68.00. The stock has a market capitalization of $7.24 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 0.60 and a beta of 0.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.28 and a current ratio of 0.28. Voya Financial, Inc. has a 12 month low of $52.43 and a 12 month high of $84.30.

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

Voya Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 26th. Voya Financial's payout ratio is 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.