Hennessy Advisors Inc. Has $42.29 Million Stock Holdings in Voya Financial, Inc. (NYSE:VOYA)

Hennessy Advisors Inc. lessened its holdings in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) by 8.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 624,100 shares of the asset manager's stock after selling 61,000 shares during the period. Voya Financial accounts for approximately 1.4% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 17th biggest holding. Hennessy Advisors Inc. owned approximately 0.65% of Voya Financial worth $42,289,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of VOYA. Empowered Funds LLC increased its position in shares of Voya Financial by 20.7% in the fourth quarter. Empowered Funds LLC now owns 33,346 shares of the asset manager's stock valued at $2,295,000 after buying an additional 5,712 shares in the last quarter. PUREfi Wealth LLC purchased a new position in shares of Voya Financial in the 4th quarter worth $269,000. CIBC Asset Management Inc boosted its holdings in Voya Financial by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 3,307 shares of the asset manager's stock valued at $228,000 after acquiring an additional 177 shares during the last quarter. Truist Financial Corp grew its position in Voya Financial by 1.9% during the fourth quarter. Truist Financial Corp now owns 69,417 shares of the asset manager's stock valued at $4,778,000 after acquiring an additional 1,301 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in shares of Voya Financial by 45.0% in the fourth quarter. Venturi Wealth Management LLC now owns 648 shares of the asset manager's stock valued at $45,000 after buying an additional 201 shares in the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Voya Financial from $80.00 to $83.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Bank of America reaffirmed an "underperform" rating and set a $71.00 price target (down from $79.00) on shares of Voya Financial in a research note on Friday, March 28th. UBS Group decreased their price target on shares of Voya Financial from $89.00 to $88.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Barclays set a $70.00 price objective on shares of Voya Financial in a research note on Wednesday, May 7th. Finally, Morgan Stanley increased their price objective on Voya Financial from $70.00 to $86.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $81.92.

Voya Financial Price Performance

NYSE VOYA traded down $1.40 on Tuesday, reaching $66.60. The company's stock had a trading volume of 773,547 shares, compared to its average volume of 987,596. Voya Financial, Inc. has a 52 week low of $52.43 and a 52 week high of $84.30. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $63.58 and a 200 day moving average price of $67.62. The firm has a market cap of $6.41 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 0.48 and a beta of 0.99.

Voya Financial (NYSE:VOYA - Get Free Report) last announced its earnings results on Tuesday, May 6th. The asset manager reported $2.15 EPS for the quarter, topping the consensus estimate of $1.59 by $0.56. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.94 billion. Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. Voya Financial's revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.77 EPS. Sell-side analysts expect that Voya Financial, Inc. will post 8.39 EPS for the current year.

Voya Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, May 27th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Tuesday, May 27th. Voya Financial's dividend payout ratio (DPR) is 33.96%.

Insider Activity

In related news, Director Yvette S. Butler sold 1,700 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $66.18, for a total value of $112,506.00. Following the completion of the transaction, the director now owns 355 shares of the company's stock, valued at approximately $23,493.90. This trade represents a 82.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.99% of the stock is currently owned by company insiders.

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.