Voya Financial, Inc. $VOYA Position Cut by Corsair Capital Management L.P.

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. lessened its stake in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) by 45.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,481 shares of the asset manager's stock after selling 34,296 shares during the quarter. Voya Financial accounts for 0.7% of Corsair Capital Management L.P.'s investment portfolio, 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 (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. lifted its stake in shares of Voya Financial by 142.9% during the first quarter. Bessemer Group Inc. now owns 1,343 shares of the asset manager's stock worth $91,000 after purchasing an additional 790 shares in the last quarter. Vident Advisory LLC acquired a new position in shares of Voya Financial during the fourth quarter worth about $250,000. Principal Financial Group Inc. lifted its stake in shares of Voya Financial by 0.3% during the first quarter. Principal Financial Group Inc. now owns 221,385 shares of the asset manager's stock worth $15,001,000 after purchasing an additional 574 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Voya Financial in the first quarter worth about $385,000. Finally, FORA Capital LLC acquired a new position in shares of Voya Financial in the first quarter worth about $894,000. Institutional investors and hedge funds own 96.10% of the company's stock.

Wall Street Analyst Weigh In

VOYA has been the topic of several recent analyst reports. Barclays boosted their price target on Voya Financial from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. UBS Group boosted their price target on Voya Financial from $87.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Morgan Stanley boosted their price target on Voya Financial from $89.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Keefe, Bruyette & Woods boosted their price target on Voya Financial from $80.00 to $83.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 13th. Finally, Evercore ISI boosted their price target on Voya Financial from $84.00 to $86.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $83.70.

Voya Financial Stock Performance

Shares of Voya Financial stock traded up $0.31 on Wednesday, reaching $74.73. 203,479 shares of the company were exchanged, compared to its average volume of 922,389. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.28 and a current ratio of 0.28. The company's 50-day moving average is $72.51 and its two-hundred day moving average is $67.99. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 0.60 and a beta of 1.00. Voya Financial, Inc. has a 1-year low of $52.43 and a 1-year high of $84.30.

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

Voya Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, August 26th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 26th. Voya Financial's dividend payout ratio 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.