California State Teachers Retirement System Has $878.49 Million Stock Holdings in Voya Financial, Inc. $VOYA

Key Points

• California State Teachers Retirement System increased its Voya Financial stake by 8,471.7% to 9.7 million shares, worth approximately $878.5 million and representing 10.71% of the company. Institutional investors collectively own 96.1% of VOYA.
• Analysts maintain a generally positive outlook, with Voya receiving a consensus “Moderate Buy” rating and an average price target of $103.85. Individual targets range from $79 to $117.
• Voya reported quarterly earnings of $1.51 per share, below the $1.98 consensus estimate, while revenue declined 4.3% year over year to $1.88 billion. The company declared a quarterly dividend of $0.47 per share, equivalent to a 1.8% yield.

California State Teachers Retirement System boosted its position in Voya Financial, Inc. (NYSE:VOYA - Free Report) by 8,471.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,703,820 shares of the asset manager's stock after acquiring an additional 9,590,613 shares during the quarter. California State Teachers Retirement System owned 10.71% of Voya Financial worth $878,487,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Voya Financial by 21.7% in the 1st quarter. Royal Bank of Canada now owns 84,715 shares of the asset manager's stock valued at $5,741,000 after purchasing an additional 15,091 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Voya Financial by 8.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 662,058 shares of the asset manager's stock worth $44,861,000 after buying an additional 51,376 shares during the last quarter. Empowered Funds LLC boosted its stake in Voya Financial by 13.5% in the first quarter. Empowered Funds LLC now owns 37,836 shares of the asset manager's stock valued at $2,564,000 after buying an additional 4,490 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Voya Financial by 1.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,144 shares of the asset manager's stock valued at $25,081,000 after buying an additional 6,127 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Voya Financial by 44.0% in the first quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager's stock valued at $49,000 after acquiring an additional 223 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on VOYA shares. Keefe, Bruyette & Woods boosted their target price on Voya Financial from $109.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. upped their price target on shares of Voya Financial from $105.00 to $109.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Raymond James Financial upgraded 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 note on Monday, June 8th. Wells Fargo & Company raised 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. Finally, Atlantic Securities set a $79.00 target price on Voya Financial in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Voya Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.85.

Voya Financial Price Performance

Voya Financial stock opened at $103.45 on Monday. The stock's 50 day moving average is $99.99 and its 200 day moving average is $85.72. Voya Financial, Inc. has a one year low of $64.50 and a one year high of $105.64. The firm has a market cap of $9.37 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.00 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.27 and a quick ratio of 0.27.

Voya Financial (NYSE:VOYA - Get Free Report) last released its earnings results on Tuesday, August 4th. The asset manager reported $1.51 earnings per share for the quarter, missing analysts' consensus estimates 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 period in the prior year, the company posted $1.66 EPS. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts expect that Voya Financial, Inc. will post 9.25 EPS for the current year.

Voya Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Wednesday, August 26th will be given a dividend of $0.47 per share. 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 dividend payout ratio is 31.70%.

Voya Financial Company Profile

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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