California State Teachers Retirement System Sells 6,018 Shares of Voya Financial, Inc. $VOYA

Key Points

• California State Teachers Retirement System reduced its Voya Financial position by 5.3%, selling 6,018 shares and retaining 107,189 shares worth approximately $9.7 million. Institutional investors collectively own 96.1% of the company.
• Analysts remain broadly positive, with Voya carrying a “Moderate Buy” consensus rating and an average price target of $103.85; recent targets range as high as $120.
• Voya shares recently traded at $102.37 after the company reported quarterly EPS of $1.51, below the $1.98 consensus estimate. The company declared a quarterly dividend of $0.47, equivalent to a 1.8% annualized yield.

California State Teachers Retirement System cut its position in Voya Financial, Inc. (NYSE:VOYA - Free Report) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,189 shares of the asset manager's stock after selling 6,018 shares during the period. California State Teachers Retirement System owned about 0.12% of Voya Financial worth $9,703,820 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of VOYA. HB Wealth Management LLC increased its position in Voya Financial by 62.5% during the second quarter. HB Wealth Management LLC now owns 6,328 shares of the asset manager's stock worth $573,000 after purchasing an additional 2,435 shares during the last quarter. AlphaGrep UK Ltd bought a new stake in shares of Voya Financial during the 2nd quarter valued at about $528,000. Odyssean LLC acquired a new stake in Voya Financial in the 2nd quarter valued at about $225,000. Syon Capital LLC boosted its position in Voya Financial by 8.9% during the second quarter. Syon Capital LLC now owns 7,429 shares of the asset manager's stock valued at $673,000 after purchasing an additional 607 shares during the last quarter. Finally, AXQ Capital LP acquired a new position in Voya Financial during the 2nd quarter valued at $446,000. Institutional investors own 96.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on VOYA. Wells Fargo & Company boosted their target price on shares of Voya Financial from $100.00 to $104.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 19th. Royal Bank Of Canada increased their target price on shares of Voya Financial from $107.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Raymond James Financial raised Voya Financial from a "market perform" rating to a "strong-buy" rating and set a $117.00 price target on the stock in a report on Monday, June 8th. Atlantic Securities set a $79.00 target price on shares of Voya Financial in a report on Wednesday, July 15th. Finally, TD Cowen lifted their price objective on shares of Voya Financial from $112.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $103.85.

Voya Financial Stock Down 0.7%

Shares of VOYA traded down $0.77 during trading hours on Tuesday, reaching $102.37. The company's stock had a trading volume of 389,447 shares, compared to its average volume of 1,106,749. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $100.13 and a two-hundred day moving average of $85.96. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 1.00 and a beta of 0.90. Voya Financial, Inc. has a 1-year low of $64.50 and a 1-year high of $105.64.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its 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 business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the previous year, the firm posted $1.66 EPS. The business's revenue was down 4.3% on a year-over-year basis. As a group, research analysts predict that Voya Financial, Inc. will post 9.25 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Wednesday, August 26th will be paid a $0.47 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $1.88 annualized dividend and a dividend yield of 1.8%. Voya Financial's payout ratio is currently 31.70%.

About Voya Financial

Voya Financial, Inc is a U.S.-based financial services company that helps individuals, employers and institutions plan for retirement, manage investments and address employee benefits needs. Its operations are organized primarily around retirement, employee benefits and investment management.

Through its retirement business, Voya provides workplace retirement plans, including defined contribution and defined benefit solutions, as well as individual retirement products and financial-wellness resources.

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