Canada Pension Plan Investment Board Grows Stock Holdings in Voya Financial, Inc. $VOYA

Key Points

• Canada Pension Plan Investment Board increased its holdings in Voya Financial, Inc. by 84.3% during the first quarter, now owning 45,700 shares valued at approximately $3.1 million.
• Voya Financial reported an earnings per share (EPS) of $2.40, surpassing estimates of $2.09, with revenues of $1.98 billion for the quarter.
• The company announced a quarterly dividend of $0.45 per share, reflecting an annualized dividend yield of 2.4% and a payout ratio of 36%.

Canada Pension Plan Investment Board boosted its stake in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) by 84.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,700 shares of the asset manager's stock after buying an additional 20,900 shares during the quarter. Canada Pension Plan Investment Board's holdings in Voya Financial were worth $3,097,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Voya Financial during the 1st quarter valued at about $47,000. Versant Capital Management Inc lifted its holdings in Voya Financial by 666.4% during the 1st quarter. Versant Capital Management Inc now owns 889 shares of the asset manager's stock valued at $60,000 after buying an additional 773 shares in the last quarter. Blue Trust Inc. lifted its holdings in Voya Financial by 36.9% during the 1st quarter. Blue Trust Inc. now owns 950 shares of the asset manager's stock valued at $64,000 after buying an additional 256 shares in the last quarter. LRI Investments LLC raised its holdings in shares of Voya Financial by 26.1% in the 4th quarter. LRI Investments LLC now owns 1,310 shares of the asset manager's stock valued at $90,000 after purchasing an additional 271 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Voya Financial by 142.9% in the 1st quarter. Bessemer Group Inc. now owns 1,343 shares of the asset manager's stock valued at $91,000 after purchasing an additional 790 shares in the last quarter. Institutional investors own 96.10% of the company's stock.

Voya Financial Stock Performance

Voya Financial stock traded down $1.20 during mid-day trading on Friday, reaching $76.42. 1,593,168 shares of the company traded hands, compared to its average volume of 713,135. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.28 and a quick ratio of 0.28. Voya Financial, Inc. has a fifty-two week low of $52.43 and a fifty-two week high of $84.30. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 9.36, a price-to-earnings-growth ratio of 0.61 and a beta of 1.00. The firm's fifty day moving average is $72.90 and its two-hundred day moving average is $68.02.

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

Voya Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, August 26th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, August 26th. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. Voya Financial's dividend payout ratio is presently 36.00%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VOYA. Keefe, Bruyette & Woods boosted their price target on shares of Voya Financial from $80.00 to $83.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Barclays boosted their price target on shares of Voya Financial from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Wells Fargo & Company boosted their price target on shares of Voya Financial from $76.00 to $82.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Morgan Stanley boosted their price target on shares of Voya Financial from $89.00 to $90.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, UBS Group boosted their price target 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 investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $83.70.

Voya Financial 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.