Canada Pension Plan Investment Board Takes Position in Voya Financial, Inc. $VOYA

Key Points

• Canada Pension Plan Investment Board acquired 45,700 shares of Voya Financial worth approximately $4.14 million, while institutional investors collectively own 96.1% of the company.
• Voya reported quarterly earnings of $1.51 per share, missing analyst expectations of $1.98, as revenue fell 4.3% year over year to $1.88 billion.
• The company declared a quarterly dividend of $0.47 per share, equal to an annualized $1.88 payout and a 1.8% yield; analysts maintain a “Moderate Buy” consensus with an average target price of $103.85.

Canada Pension Plan Investment Board bought a new stake in Voya Financial, Inc. (NYSE:VOYA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 45,700 shares of the asset manager's stock, valued at approximately $4,137,000. Canada Pension Plan Investment Board owned approximately 0.05% of Voya Financial at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VOYA. Legal & General Group Plc acquired a new stake in Voya Financial during the second quarter worth $10,783,000. The Manufacturers Life Insurance Company bought a new position in shares of Voya Financial during the 2nd quarter worth about $5,722,000. Sanctuary Advisors LLC acquired a new stake in shares of Voya Financial during the 2nd quarter valued at about $643,000. PEAK6 LLC acquired a new stake in shares of Voya Financial during the 2nd quarter valued at about $1,275,000. Finally, Bank of Nova Scotia bought a new stake in Voya Financial in the second quarter valued at about $6,881,000. 96.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Voya Financial news, insider Trevor Ogle sold 3,994 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $90.00, for a total value of $359,460.00. Following the completion of the sale, the insider directly owned 2,887 shares in the company, valued at $259,830. This represents a 58.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.57% of the company's stock.

Voya Financial Stock Performance

NYSE VOYA opened at $102.34 on Monday. The firm has a market cap of $9.27 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 0.99 and a beta of 0.89. The company has a 50 day moving average of $97.76 and a 200-day moving average of $83.71. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51. Voya Financial, Inc. has a 1-year low of $64.50 and a 1-year high of $103.85.

Voya Financial (NYSE:VOYA - Get Free Report) last announced 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 return on equity of 12.31% and a net margin of 7.45%.The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the firm earned $1.66 earnings per share. The firm's revenue was down 4.3% compared to the same quarter last year. On average, equities analysts forecast that Voya Financial, Inc. will post 9.25 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Evercore restated an "outperform" rating and set a $111.00 target price on shares of Voya Financial in a research report on Friday, August 7th. Wells Fargo & Company upped their price target on Voya Financial from $100.00 to $104.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods increased their price objective on Voya Financial from $109.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. Weiss Ratings cut Voya Financial from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Finally, Morgan Stanley boosted their target price on shares of Voya Financial from $92.00 to $105.00 and gave the company an "overweight" rating in a research note on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $103.85.

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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