Belpointe Asset Management LLC Has $521,000 Stake in Voya Financial, Inc. $VOYA

Key Points

• Belpointe Asset Management LLC decreased its holdings in Voya Financial by 39.7% in the first quarter, now owning 7,691 shares worth approximately $521,000.
• Several institutional investors have also modified their positions, with Versant Capital Management Inc increasing its stake by 666.4% during the same period.
• Voya Financial plans to pay a quarterly dividend of $0.45 on September 26th, representing an annualized yield of 2.3%.

Belpointe Asset Management LLC cut its position in Voya Financial, Inc. (NYSE:VOYA - Free Report) by 39.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,691 shares of the asset manager's stock after selling 5,056 shares during the period. Belpointe Asset Management LLC's holdings in Voya Financial were worth $521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its position in Voya Financial by 142.9% in the first quarter. Bessemer Group Inc. now owns 1,343 shares of the asset manager's stock valued at $91,000 after buying an additional 790 shares in the last quarter. Vident Advisory LLC acquired a new position in Voya Financial in the fourth quarter valued at about $250,000. Principal Financial Group Inc. boosted its position in Voya Financial by 0.3% in the first quarter. Principal Financial Group Inc. now owns 221,385 shares of the asset manager's stock valued at $15,001,000 after buying an additional 574 shares in the last quarter. FORA Capital LLC acquired a new position in Voya Financial in the first quarter valued at about $894,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in Voya Financial in the first quarter valued at about $385,000. 96.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VOYA. Evercore ISI upped their target price on shares of Voya Financial from $84.00 to $86.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. upped their target price on shares of Voya Financial from $80.00 to $89.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Morgan Stanley upped their target price on shares of Voya Financial from $89.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Royal Bank Of Canada increased their price objective on shares of Voya Financial from $80.00 to $87.00 and gave the company an "outperform" rating in a report on Tuesday, August 19th. Finally, UBS Group increased their price objective on shares of Voya Financial from $87.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Voya Financial presently has a consensus rating of "Moderate Buy" and an average price target of $83.70.

Voya Financial Stock Up 1.3%

Shares of VOYA stock traded up $1.01 during trading hours on Thursday, hitting $77.04. 813,713 shares of the company were exchanged, compared to its average volume of 797,694. The business has a 50 day moving average of $73.56 and a two-hundred day moving average of $68.34. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.44. Voya Financial, Inc. has a 52 week low of $52.43 and a 52 week high of $84.30. The company has a market capitalization of $7.43 billion, a PE ratio of 15.41, a PEG ratio of 0.61 and a beta of 1.00.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The asset manager reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.31. Voya Financial had a net margin of 6.73% and a return on equity of 13.72%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm earned $2.18 earnings per share. The firm's revenue was down 2.6% compared to the same quarter last year. Analysts anticipate that Voya Financial, Inc. will post 8.39 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, August 26th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, August 26th. This represents a $1.80 annualized dividend and a yield of 2.3%. Voya Financial's dividend payout ratio is presently 36.00%.

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.