Hennessy Advisors Inc. Reduces Position in Voya Financial, Inc. (NYSE:VOYA)

Hennessy Advisors Inc. trimmed its position in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) by 8.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 624,100 shares of the asset manager's stock after selling 61,000 shares during the period. Voya Financial makes up approximately 1.4% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 17th largest position. Hennessy Advisors Inc. owned about 0.65% of Voya Financial worth $42,289,000 at the end of the most recent reporting period.

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

Voya Financial Stock Down 2.6%

VOYA traded down $1.75 during trading on Friday, hitting $66.36. 900,981 shares of the company's stock were exchanged, compared to its average volume of 885,453. The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 0.59. The business's 50 day moving average is $63.31 and its two-hundred day moving average is $67.94. Voya Financial, Inc. has a fifty-two week low of $52.43 and a fifty-two week high of $84.30. The stock has a market cap of $6.38 billion, a P/E ratio of 10.84, a PEG ratio of 0.48 and a beta of 0.99.

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

Voya Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Tuesday, May 27th. Voya Financial's dividend payout ratio is 33.96%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VOYA. Wells Fargo & Company raised their price objective on shares of Voya Financial from $69.00 to $76.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Bank of America reiterated an "underperform" rating and issued a $71.00 price objective (down previously from $79.00) on shares of Voya Financial in a report on Friday, March 28th. UBS Group dropped their price objective on shares of Voya Financial from $89.00 to $88.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Voya Financial from $80.00 to $83.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Voya Financial from $81.00 to $80.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $81.92.

Insiders Place Their Bets

In related news, Director Yvette S. Butler sold 1,700 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $66.18, for a total value of $112,506.00. Following the transaction, the director now directly owns 355 shares of the company's stock, valued at approximately $23,493.90. The trade was a 82.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.99% of the company's stock.

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.