Gateway Investment Advisers LLC Reduces Stock Position in Voya Financial, Inc. $VOYA

Key Points

• Gateway Investment Advisers LLC significantly reduced its stake in Voya Financial by 74.7%, holding only 9,024 shares valued at $641,000 after selling 26,675 shares in the second quarter.
• Equities analysts are optimistic about Voya Financial, with several raising their price targets; the consensus rating is currently a "Moderate Buy" with an average price target of $83.70.
• Voya Financial recently announced a quarterly dividend of $0.45 per share, which will be paid on September 26th, representing an annualized yield of 2.3%.

Gateway Investment Advisers LLC cut its holdings in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) by 74.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,024 shares of the asset manager's stock after selling 26,675 shares during the period. Gateway Investment Advisers LLC's holdings in Voya Financial were worth $641,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in VOYA. Strs Ohio bought a new stake in Voya Financial during the 1st quarter worth approximately $1,973,000. WBI Investments LLC purchased a new position in shares of Voya Financial during the first quarter valued at approximately $231,000. Westbourne Investments Inc. bought a new stake in Voya Financial during the first quarter worth $929,000. Geneos Wealth Management Inc. grew its holdings in Voya Financial by 44.0% during the first quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager's stock worth $49,000 after buying an additional 223 shares in the last quarter. Finally, Jane Street Group LLC raised its position in Voya Financial by 247.1% in the 1st quarter. Jane Street Group LLC now owns 190,035 shares of the asset manager's stock valued at $12,877,000 after buying an additional 135,292 shares during the last quarter. Institutional investors own 96.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on VOYA shares. UBS Group lifted their price objective on shares of Voya Financial from $87.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Evercore ISI raised their price target on shares of Voya Financial from $84.00 to $86.00 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. Morgan Stanley boosted their price target on shares of Voya Financial from $89.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. JPMorgan Chase & Co. upped their price objective on shares of Voya Financial from $80.00 to $89.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada increased 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. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $83.70.

Voya Financial Stock Performance

Shares of VOYA stock traded down $0.11 during trading hours on Monday, hitting $76.50. 710,170 shares of the company were exchanged, compared to its average volume of 812,989. The firm has a fifty day simple moving average of $73.70 and a 200 day simple moving average of $68.41. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.44. Voya Financial, Inc. has a 52-week low of $52.43 and a 52-week high of $84.30. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 0.57 and a beta of 1.00.

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 return on equity of 13.72% and a net margin of 6.73%.The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the business earned $2.18 earnings per share. Voya Financial's revenue for the quarter was down 2.6% on a year-over-year basis. Research analysts predict that Voya Financial, Inc. will post 8.39 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders 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 annualized dividend and a dividend yield of 2.4%. Voya Financial's dividend payout ratio is presently 36.00%.

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.