Pzena Investment Management LLC Purchases 62,093 Shares of Voya Financial, Inc. $VOYA

Key Points

• Pzena Investment Management LLC increased its holdings in Voya Financial by 1.7%, acquiring 62,093 shares in the second quarter, bringing their total to 3,661,257 shares valued at approximately $259.9 million.
• Voya Financial posted $2.40 EPS for the last quarter, exceeding analysts' expectations, despite a 2.6% year-over-year revenue decline to $1.98 billion.
• The company recently declared a quarterly dividend of $0.45, translating to an annual dividend yield of 2.5% and a payout ratio of 36%.

Pzena Investment Management LLC lifted its position in Voya Financial, Inc. (NYSE:VOYA - Free Report) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,661,257 shares of the asset manager's stock after buying an additional 62,093 shares during the quarter. Pzena Investment Management LLC owned about 3.81% of Voya Financial worth $259,949,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc grew its stake in shares of Voya Financial by 225.6% in the second quarter. IFP Advisors Inc now owns 433 shares of the asset manager's stock valued at $31,000 after buying an additional 300 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Voya Financial during the 1st quarter valued at $47,000. Geneos Wealth Management Inc. lifted its holdings in Voya Financial by 44.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager's stock valued at $49,000 after purchasing an additional 223 shares during the last quarter. Blue Trust Inc. lifted its holdings in Voya Financial by 36.9% during the 1st quarter. Blue Trust Inc. now owns 950 shares of the asset manager's stock valued at $64,000 after purchasing an additional 256 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Voya Financial by 142.9% during the 1st quarter. Bessemer Group Inc. now owns 1,343 shares of the asset manager's stock valued at $91,000 after purchasing an additional 790 shares during the last quarter. 96.10% of the stock is owned by institutional investors.

Voya Financial Stock Down 2.5%

Shares of NYSE VOYA opened at $72.66 on Monday. 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 52 week low of $52.43 and a 52 week high of $84.30. The stock has a market capitalization of $7.01 billion, a P/E ratio of 14.53, a PEG ratio of 0.54 and a beta of 0.98. The stock's fifty day moving average is $74.76 and its 200 day moving average is $69.09.

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 analysts' consensus estimates of $2.09 by $0.31. Voya Financial had a return on equity of 13.72% and a net margin of 6.73%.The company had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter last year, the business earned $2.18 earnings per share. Voya Financial's revenue was down 2.6% on a year-over-year basis. Sell-side analysts forecast that Voya Financial, Inc. will post 8.39 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Tuesday, August 26th were given a $0.45 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. Voya Financial's dividend payout ratio (DPR) is presently 36.00%.

Analyst Upgrades and Downgrades

VOYA has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on Voya Financial from $80.00 to $89.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Morgan Stanley raised their price target on Voya Financial from $90.00 to $91.00 and gave the company an "overweight" rating in a report on Tuesday, October 7th. Evercore ISI raised their price target on Voya Financial from $84.00 to $86.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Barclays raised their price target on Voya Financial from $81.00 to $83.00 and gave the company an "equal weight" rating in a report on Wednesday. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Voya Financial in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $85.00.

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.

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