Engineers Gate Manager LP Acquires 163,157 Shares of Voya Financial, Inc. $VOYA

Key Points

• Engineers Gate Manager LP increased its Voya Financial stake by 940.5% in the second quarter, acquiring 163,157 additional shares for a total of 180,505 shares worth approximately $16.3 million.
• Institutional investors own 96.1% of Voya’s outstanding stock, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $103.85.
• Voya reported quarterly earnings of $1.51 per share, below the $1.98 consensus estimate, and declared a quarterly dividend of $0.47 per share, representing a 1.8% annualized yield.

Engineers Gate Manager LP raised its holdings in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) by 940.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,505 shares of the asset manager's stock after purchasing an additional 163,157 shares during the quarter. Engineers Gate Manager LP owned approximately 0.20% of Voya Financial worth $16,341,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Danske Bank A S bought a new stake in shares of Voya Financial during the 2nd quarter worth about $27,000. Allworth Financial LP raised its holdings in Voya Financial by 75.5% in the 3rd quarter. Allworth Financial LP now owns 351 shares of the asset manager's stock valued at $26,000 after acquiring an additional 151 shares during the period. Atlas Capital Advisors Inc. bought a new position in Voya Financial in the 4th quarter valued at about $28,000. Systematic Financial Management LP acquired a new stake in Voya Financial during the fourth quarter worth approximately $37,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Voya Financial during the second quarter worth approximately $48,000. 96.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on VOYA shares. Raymond James Financial raised Voya Financial from a "market perform" rating to a "strong-buy" rating and set a $117.00 target price on the stock in a research report on Monday, June 8th. JPMorgan Chase & Co. lifted their price target on Voya Financial from $105.00 to $109.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Wells Fargo & Company boosted their price target on Voya Financial from $100.00 to $104.00 and gave the company an "equal weight" rating in a research note 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 report on Tuesday, August 11th. Finally, Royal Bank Of Canada lifted their target price on Voya Financial from $107.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Voya Financial has an average rating of "Moderate Buy" and an average price target of $103.85.

Voya Financial Trading Down 0.8%

Shares of NYSE:VOYA opened at $102.08 on Thursday. The company has a market capitalization of $9.25 billion, a P/E ratio of 17.21, a P/E/G ratio of 0.99 and a beta of 0.90. Voya Financial, Inc. has a 1 year low of $64.50 and a 1 year high of $105.64. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.27 and a quick ratio of 0.27. The business's 50 day simple moving average is $99.64 and its 200 day simple moving average is $85.28.

Voya Financial (NYSE:VOYA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The asset manager reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.47). The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.90 billion. Voya Financial had a net margin of 7.45% and a return on equity of 12.31%. Voya Financial's revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 earnings per share. On average, research analysts anticipate that Voya Financial, Inc. will post 9.25 EPS for the current fiscal year.

Voya Financial Announces Dividend

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

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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