Hsbc Holdings PLC Purchases 67,300 Shares of Voya Financial, Inc. $VOYA

Key Points

• HSBC Holdings PLC increased its stake in Voya Financial by 124.7% in the fourth quarter, buying 67,300 additional shares and bringing its total holding to 121,267 shares worth about $9.0 million.
• Several analysts raised price targets on Voya Financial, with the consensus rating now at “Moderate Buy” and an average target price of $94.27.
• Voya recently beat earnings expectations, reporting $2.26 EPS versus the $2.02 forecast, and it also paid a quarterly dividend of $0.47 per share, implying a 2.0% annual yield.

Hsbc Holdings PLC raised its position in Voya Financial, Inc. (NYSE:VOYA - Free Report) by 124.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,267 shares of the asset manager's stock after buying an additional 67,300 shares during the period. Hsbc Holdings PLC owned 0.13% of Voya Financial worth $9,033,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP boosted its stake in Voya Financial by 21.1% in the third quarter. Hudson Bay Capital Management LP now owns 151,462 shares of the asset manager's stock worth $11,329,000 after purchasing an additional 26,346 shares in the last quarter. Cadence Bank increased its stake in shares of Voya Financial by 59.9% in the third quarter. Cadence Bank now owns 49,299 shares of the asset manager's stock valued at $3,688,000 after buying an additional 18,462 shares in the last quarter. Impax Asset Management Group plc raised its holdings in shares of Voya Financial by 11.4% in the fourth quarter. Impax Asset Management Group plc now owns 203,101 shares of the asset manager's stock valued at $15,129,000 after buying an additional 20,722 shares during the last quarter. Prana Capital Management LP bought a new position in shares of Voya Financial in the third quarter valued at about $2,454,000. Finally, Lighthouse Investment Partners LLC lifted its position in Voya Financial by 16.0% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 204,836 shares of the asset manager's stock worth $15,322,000 after buying an additional 28,210 shares in the last quarter. 96.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on VOYA. Wells Fargo & Company raised their price objective on shares of Voya Financial from $80.00 to $89.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 12th. Royal Bank Of Canada boosted their price objective on shares of Voya Financial from $91.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, July 2nd. Morgan Stanley upped their price objective on Voya Financial from $84.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, May 21st. Barclays lifted their target price on Voya Financial from $98.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, UBS Group upped their price target on Voya Financial from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $94.27.

Voya Financial Price Performance

VOYA opened at $96.10 on Thursday. The company has a fifty day moving average price of $86.32 and a two-hundred day moving average price of $77.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.27 and a current ratio of 0.27. Voya Financial, Inc. has a 52 week low of $64.50 and a 52 week high of $97.90. The firm has a market capitalization of $8.71 billion, a PE ratio of 14.52, a P/E/G ratio of 0.87 and a beta of 0.91.

Voya Financial (NYSE:VOYA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.24. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the business posted $2.00 EPS. The firm's quarterly revenue was up 3.1% on a year-over-year basis. As a group, analysts anticipate that Voya Financial, Inc. will post 9.64 earnings per share for the current year.

Voya Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, May 26th were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.88 annualized dividend and a yield of 2.0%. Voya Financial's dividend payout ratio is presently 28.40%.

Insiders Place Their Bets

In other Voya Financial news, insider Trevor Ogle sold 3,994 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $90.00, for a total transaction of $359,460.00. Following the transaction, the insider owned 2,887 shares in the company, valued at approximately $259,830. This trade represents a 58.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.57% of the company's stock.

About Voya Financial

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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