Bank of Nova Scotia Takes $6.88 Million Position in Voya Financial, Inc. $VOYA

Key Points

• Bank of Nova Scotia bought 76,006 Voya Financial shares worth approximately $6.88 million, representing about 0.08% of the company. Institutional investors collectively own 96.1% of Voya’s stock.
• Voya reported quarterly EPS of $1.51, missing estimates of $1.98, while revenue fell 4.3% year over year to $1.88 billion. Shares opened at $100.61, near the company’s 52-week high of $103.85.
• Voya declared a quarterly dividend of $0.47 per share, equal to an annualized $1.88 payout and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $103.85.

Bank of Nova Scotia purchased a new stake in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 76,006 shares of the asset manager's stock, valued at approximately $6,881,000. Bank of Nova Scotia owned about 0.08% of Voya Financial as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the company. Quantinno Capital Management LP lifted its stake in shares of Voya Financial by 6.8% during the first quarter. Quantinno Capital Management LP now owns 237,550 shares of the asset manager's stock worth $16,229,000 after buying an additional 15,186 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Voya Financial during the second quarter valued at $2,045,000. BlackRock Inc. acquired a new position in shares of Voya Financial in the 2nd quarter valued at $850,187,000. Fifth Third Bancorp increased its position in shares of Voya Financial by 4,892.7% in the 1st quarter. Fifth Third Bancorp now owns 63,058 shares of the asset manager's stock valued at $4,308,000 after acquiring an additional 61,795 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in Voya Financial in the 2nd quarter worth $11,372,000. Institutional investors own 96.10% of the company's stock.

Voya Financial Stock Performance

Shares of NYSE VOYA opened at $100.61 on Wednesday. The company's fifty day moving average price is $97.08 and its 200 day moving average price is $83.14. Voya Financial, Inc. has a 1 year low of $64.50 and a 1 year high of $103.85. The company has a market capitalization of $9.11 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.27 and a current ratio of 0.27.

Voya Financial (NYSE:VOYA - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.47). Voya Financial had a net margin of 7.45% and a return on equity of 12.31%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the business posted $1.66 EPS. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. On average, research analysts predict that Voya Financial, Inc. will post 9.27 earnings per share for the current year.

Voya Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Wednesday, August 26th will be given a $0.47 dividend. 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 31.70%.

Wall Street Analyst Weigh In

A number of analysts have commented on VOYA shares. Raymond James Financial raised Voya Financial from a "market perform" rating to a "strong-buy" rating and set a $117.00 price target for the company in a research report on Monday, June 8th. Wells Fargo & Company increased their price objective on Voya Financial from $100.00 to $104.00 and gave the company an "equal weight" rating in a report on Wednesday, August 19th. Jefferies Financial Group raised their price objective on Voya Financial from $80.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, July 10th. Barclays lifted their target price on Voya Financial from $98.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Finally, TD Cowen upped their target price on Voya Financial from $112.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $103.85.

Insider Activity

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

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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