Nuveen LLC Invests $16.68 Million in Voya Financial, Inc. $VOYA

Key Points

• Nuveen LLC made a new investment of approximately $16.68 million in Voya Financial, acquiring 246,207 shares, representing around 0.26% of the company's stock.
• Voya Financial reported an EPS of $2.40 for the latest quarter, surpassing analyst estimates of $2.09, with revenues of $1.98 billion.
• The company declared a quarterly dividend of $0.45 per share, which will yield 2.4% annually, and has a current dividend payout ratio of 36.00%.

Nuveen LLC acquired a new position in Voya Financial, Inc. (NYSE:VOYA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 246,207 shares of the asset manager's stock, valued at approximately $16,683,000. Nuveen LLC owned 0.26% of Voya Financial as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Kelly Financial Group LLC acquired a new stake in shares of Voya Financial during the 1st quarter valued at about $270,680,000. Pzena Investment Management LLC grew its position in shares of Voya Financial by 0.9% during the 1st quarter. Pzena Investment Management LLC now owns 3,599,164 shares of the asset manager's stock valued at $243,879,000 after acquiring an additional 32,061 shares during the period. Northern Trust Corp grew its position in shares of Voya Financial by 14.5% during the 4th quarter. Northern Trust Corp now owns 1,335,463 shares of the asset manager's stock valued at $91,920,000 after acquiring an additional 168,777 shares during the period. AQR Capital Management LLC increased its position in shares of Voya Financial by 2.3% in the fourth quarter. AQR Capital Management LLC now owns 514,878 shares of the asset manager's stock valued at $35,439,000 after buying an additional 11,804 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its position in shares of Voya Financial by 278.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 460,803 shares of the asset manager's stock valued at $31,717,000 after buying an additional 339,139 shares in the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Voya Financial

In other Voya Financial news, Director Yvette S. Butler sold 1,700 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $66.18, for a total value of $112,506.00. Following the completion of the sale, the director directly owned 355 shares in the company, valued at $23,493.90. This represents a 82.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group boosted their price objective on Voya Financial from $87.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Royal Bank Of Canada boosted their price objective on Voya Financial from $80.00 to $87.00 and gave the company an "outperform" rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Voya Financial from $80.00 to $89.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their price objective on Voya Financial from $80.00 to $83.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Finally, Barclays boosted their price objective on Voya Financial from $70.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $83.70.

Voya Financial Price Performance

Shares of VOYA traded up $1.7240 during trading hours on Friday, hitting $76.4340. 641,813 shares of the stock were exchanged, compared to its average volume of 917,090. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.28 and a current ratio of 0.28. Voya Financial, Inc. has a 12-month low of $52.43 and a 12-month high of $84.30. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 9.35, a price-to-earnings-growth ratio of 0.61 and a beta of 0.99. The stock's 50-day moving average price is $71.38 and its two-hundred day moving average price is $67.88.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The asset manager reported $2.40 EPS for the quarter, topping 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 firm had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the previous year, the business earned $2.18 earnings per share. The firm's revenue for the quarter was down 2.6% on a year-over-year basis. Research analysts expect that Voya Financial, Inc. will post 8.39 earnings per share for the current year.

Voya Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, August 26th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, August 26th. 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.