Corsair Capital Management L.P. Has $2.81 Million Position in Voya Financial, Inc. $VOYA

Key Points

• Corsair Capital Management L.P. reduced its stake in Voya Financial by 45.3%, holding 41,481 shares valued at approximately $2.81 million.
• Analysts have raised their price targets for Voya Financial, with a consensus target price of $83.70, reflecting a mix of "Buy," "Hold," and "Sell" ratings from different firms.
• Voya Financial declared a quarterly dividend of $0.45 per share, resulting in an annualized yield of 2.4% and a payout ratio of 36.00%.

Corsair Capital Management L.P. trimmed its stake in Voya Financial, Inc. (NYSE:VOYA - Free Report) by 45.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,481 shares of the asset manager's stock after selling 34,296 shares during the quarter. Voya Financial comprises about 0.7% of Corsair Capital Management L.P.'s holdings, making the stock its 19th biggest position. Corsair Capital Management L.P.'s holdings in Voya Financial were worth $2,811,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new position in shares of Voya Financial during the 4th quarter worth about $37,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Voya Financial during the 1st quarter worth approximately $47,000. Versant Capital Management Inc boosted its holdings in Voya Financial by 666.4% in the first quarter. Versant Capital Management Inc now owns 889 shares of the asset manager's stock worth $60,000 after acquiring an additional 773 shares in the last quarter. Blue Trust Inc. grew its stake in Voya Financial by 36.9% in the first quarter. Blue Trust Inc. now owns 950 shares of the asset manager's stock valued at $64,000 after acquiring an additional 256 shares during the period. Finally, LRI Investments LLC grew its stake in Voya Financial by 26.1% in the fourth quarter. LRI Investments LLC now owns 1,310 shares of the asset manager's stock valued at $90,000 after acquiring an additional 271 shares during the period. 96.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barclays upped their target price on Voya Financial from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Royal Bank Of Canada raised their price objective on shares of Voya Financial from $80.00 to $87.00 and gave the company an "outperform" rating in a research note on Tuesday, August 19th. UBS Group lifted 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. Morgan Stanley boosted 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. Finally, Wells Fargo & Company raised their price target on shares of Voya Financial from $76.00 to $82.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $83.70.

Voya Financial Stock Down 0.9%

VOYA opened at $75.13 on Friday. Voya Financial, Inc. has a fifty-two week low of $52.43 and a fifty-two week high of $84.30. The firm has a market capitalization of $7.24 billion, a P/E ratio of 15.03, a PEG ratio of 0.60 and a beta of 0.99. The company's 50-day moving average is $72.09 and its 200 day moving average is $68.02. 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 (NYSE:VOYA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The asset manager reported $2.40 EPS for the quarter, beating 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 firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the business posted $2.18 EPS. The company's revenue for the quarter was down 2.6% on a year-over-year basis. Research analysts expect that Voya Financial, Inc. will post 8.39 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently declared 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. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, August 26th. Voya Financial's dividend payout ratio (DPR) is 36.00%.

Voya Financial Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.