Hsbc Holdings PLC Sells 86,141 Shares of Voya Financial, Inc. $VOYA

Key Points

• Hsbc Holdings PLC reduced its Voya Financial stake by 94.4% in the second quarter, selling 86,141 shares and retaining 5,102 shares worth approximately $462,000. Institutional investors collectively own 96.1% of Voya’s stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $103.85. Recent targets range from $105 to $120.
• Voya reported quarterly EPS of $1.51, below the $1.98 consensus estimate, while revenue fell 4.3% year over year to $1.88 billion. The company declared a quarterly dividend of $0.47 per share, equivalent to a 1.8% annual yield.

Hsbc Holdings PLC cut its stake in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) by 94.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,102 shares of the asset manager's stock after selling 86,141 shares during the period. Hsbc Holdings PLC's holdings in Voya Financial were worth $462,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Danske Bank A S bought a new position in shares of Voya Financial during the second quarter worth approximately $27,000. Systematic Financial Management LP bought a new stake in Voya Financial in the 4th quarter valued at $37,000. Root Financial Partners LLC boosted its stake in Voya Financial by 59.6% in the 1st quarter. Root Financial Partners LLC now owns 573 shares of the asset manager's stock valued at $39,000 after purchasing an additional 214 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Voya Financial in the 2nd quarter valued at $48,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Voya Financial by 45.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 895 shares of the asset manager's stock valued at $67,000 after buying an additional 278 shares in the last quarter. Institutional investors own 96.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on VOYA shares. Evercore reiterated an "outperform" rating and set a $111.00 price objective on shares of Voya Financial in a research report on Friday, August 7th. Weiss Ratings downgraded shares of Voya Financial from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Morgan Stanley upped their price target on shares of Voya Financial from $92.00 to $105.00 and gave the company an "overweight" rating in a research note on Monday, August 24th. JPMorgan Chase & Co. raised their price target on shares of Voya Financial from $105.00 to $109.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Finally, TD Cowen lifted their price objective on shares of Voya Financial from $112.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. One 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $103.85.

Voya Financial Stock Performance

NYSE:VOYA opened at $102.50 on Wednesday. The stock has a fifty day moving average price of $100.25 and a 200-day moving average price of $86.18. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 0.99 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.27 and a current ratio of 0.27. Voya Financial, Inc. has a fifty-two week low of $64.50 and a fifty-two week high of $105.64.

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

Voya Financial Announces Dividend

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

Voya Financial Profile

Voya Financial, Inc is a U.S.-based financial services company that helps individuals, employers and institutions plan for retirement, manage investments and address employee benefits needs. Its operations are organized primarily around retirement, employee benefits and investment management.

Through its retirement business, Voya provides workplace retirement plans, including defined contribution and defined benefit solutions, as well as individual retirement products and financial-wellness resources.

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