Russell Investments Group Ltd. Has $9.39 Million Stake in Voya Financial, Inc. $VOYA

Key Points

• Russell Investments Group Ltd. reduced its holdings in Voya Financial by 15%, now owning approximately 138,592 shares valued at $9.39 million.
• Voya Financial reported quarterly earnings of $2.40 per share, exceeding estimates, but revenue saw a 2.6% decline year-over-year.
• The company announced a quarterly dividend of $0.45 per share, translating to an annual yield of 2.4% for shareholders of record.

Russell Investments Group Ltd. decreased its stake in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 138,592 shares of the asset manager's stock after selling 24,365 shares during the quarter. Russell Investments Group Ltd. owned 0.14% of Voya Financial worth $9,391,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP bought a new position in shares of Voya Financial during the 4th quarter worth about $37,000. Versant Capital Management Inc increased its holdings in shares of Voya Financial by 666.4% during the 1st quarter. Versant Capital Management Inc now owns 889 shares of the asset manager's stock worth $60,000 after purchasing an additional 773 shares during the period. Blue Trust Inc. increased its holdings in shares of Voya Financial by 36.9% during the 1st quarter. Blue Trust Inc. now owns 950 shares of the asset manager's stock worth $64,000 after purchasing an additional 256 shares during the period. LRI Investments LLC increased its holdings in shares of Voya Financial by 26.1% during the 4th quarter. LRI Investments LLC now owns 1,310 shares of the asset manager's stock worth $90,000 after purchasing an additional 271 shares during the period. Finally, Bessemer Group Inc. increased its holdings in shares of Voya Financial by 142.9% during the 1st quarter. Bessemer Group Inc. now owns 1,343 shares of the asset manager's stock worth $91,000 after purchasing an additional 790 shares during the period. Institutional investors own 96.10% of the company's stock.

Insider Activity

In other news, Director Yvette S. Butler sold 1,700 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $66.18, for a total transaction of $112,506.00. Following the transaction, the director directly owned 355 shares in the company, valued at approximately $23,493.90. This represents a 82.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.99% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on VOYA. Evercore ISI boosted their price objective on shares of Voya Financial from $84.00 to $86.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. UBS Group upped their target price on shares of Voya Financial from $87.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Morgan Stanley upped their target price on shares of Voya Financial from $89.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday. Wells Fargo & Company upped their target price on shares of Voya Financial from $76.00 to $82.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Finally, Royal Bank Of Canada upped their target price on shares of Voya Financial from $80.00 to $87.00 and gave the company an "outperform" rating in a research note on Tuesday. Six equities 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's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $83.70.

Voya Financial Price Performance

Voya Financial stock 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 935,824. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $7.37 billion, a P/E ratio of 15.29, a P/E/G ratio of 0.60 and a beta of 0.99. Voya Financial, Inc. has a 12 month low of $52.43 and a 12 month high of $84.30. The business's 50-day moving average is $71.18 and its two-hundred day moving average is $67.86.

Voya Financial (NYSE:VOYA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The asset manager reported $2.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.09 by $0.31. Voya Financial had a net margin of 6.73% and a return on equity of 13.72%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business earned $2.18 earnings per share. Voya Financial's quarterly revenue was down 2.6% on a year-over-year basis. Equities research analysts expect that Voya Financial, Inc. will post 8.39 EPS for the current fiscal year.

Voya Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, August 26th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, August 26th. Voya Financial's dividend payout ratio is presently 36.00%.

About Voya Financial

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.