Redwood Investment Management LLC Takes $1.05 Million Position in Voya Financial, Inc. $VOYA

Key Points

• Redwood Investment Management acquired 15,341 shares of Voya Financial worth approximately $1.05 million, joining other institutional investors; institutions collectively own 96.1% of the stock.
• Voya reported quarterly EPS of $2.26, exceeding analyst expectations of $2.02, while revenue rose 3.1% year over year to $1.93 billion. The company also declared a quarterly dividend of $0.47 per share, yielding about 1.9% annually.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $100.15; targets from several firms range as high as $109.

Redwood Investment Management LLC acquired a new stake in Voya Financial, Inc. (NYSE:VOYA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,341 shares of the asset manager's stock, valued at approximately $1,048,000.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in Voya Financial by 75.5% during the 3rd quarter. Allworth Financial LP now owns 351 shares of the asset manager's stock worth $26,000 after buying an additional 151 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of Voya Financial during the fourth quarter worth $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Voya Financial in the fourth quarter valued at $33,000. Systematic Financial Management LP acquired a new stake in shares of Voya Financial in the fourth quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Voya Financial by 625.0% in the second quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager's stock valued at $39,000 after acquiring an additional 475 shares in the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

Voya Financial Stock Performance

NYSE:VOYA opened at $100.10 on Tuesday. The firm has a market capitalization of $9.08 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 0.92 and a beta of 0.89. The business's fifty day moving average price is $92.56 and its 200 day moving average price is $80.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.27 and a quick ratio of 0.27. Voya Financial, Inc. has a 12 month low of $64.50 and a 12 month high of $103.85.

Voya Financial (NYSE:VOYA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.24. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.98 billion. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.Voya Financial's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.00 EPS. On average, sell-side analysts anticipate that Voya Financial, Inc. will post 9.32 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Wednesday, August 26th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, August 26th. Voya Financial's dividend payout ratio (DPR) is 28.40%.

Insider Buying and Selling at Voya Financial

In related news, insider Trevor Ogle sold 3,994 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $90.00, for a total transaction of $359,460.00. Following the completion of the sale, the insider owned 2,887 shares in the company, valued at $259,830. The trade was a 58.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Voya Financial from $88.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods increased their price target on Voya Financial from $92.00 to $109.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. Atlantic Securities set a $79.00 price objective on Voya Financial in a research note on Wednesday, July 15th. Bank of America lowered their price objective on Voya Financial from $72.00 to $70.00 and set an "underperform" rating for the company in a research report on Tuesday, April 14th. Finally, Barclays upped their target price on shares of Voya Financial from $98.00 to $105.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Voya Financial has an average rating of "Moderate Buy" and a consensus price target of $100.15.

Voya Financial Profile

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.

Want to see what other hedge funds are holding VOYA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Voya Financial, Inc. (NYSE:VOYA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source