T. Rowe Price Investment Management Inc. Sells 90,377 Shares of Voya Financial, Inc. $VOYA

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Voya Financial, Inc. by 11.5% during the first quarter, owning 692,166 shares after selling 90,377 shares.
• Several analysts have upgraded their price targets for Voya Financial, with Morgan Stanley raising it to $90.00 and JMP Securities to $89.00, indicating strong confidence in the company.
• Voya Financial announced a quarterly dividend of $0.45, equating to an annualized yield of 2.4%, reflecting a healthy dividend payout ratio of 36.00%.

T. Rowe Price Investment Management Inc. trimmed its holdings in Voya Financial, Inc. (NYSE:VOYA - Free Report) by 11.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 692,166 shares of the asset manager's stock after selling 90,377 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.72% of Voya Financial worth $46,902,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Kelly Financial Group LLC acquired a new stake in shares of Voya Financial in the 1st quarter worth $270,680,000. Balyasny Asset Management L.P. lifted its position in 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 purchasing an additional 339,139 shares during the period. Wellington Management Group LLP boosted its holdings in Voya Financial by 5.4% in the 1st quarter. Wellington Management Group LLP now owns 5,512,176 shares of the asset manager's stock valued at $373,505,000 after purchasing an additional 280,316 shares in the last quarter. Algebris UK Ltd increased its position in Voya Financial by 250.0% during the 1st quarter. Algebris UK Ltd now owns 354,351 shares of the asset manager's stock worth $22,206,000 after purchasing an additional 253,100 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Voya Financial during the 1st quarter worth approximately $16,683,000. Institutional investors and hedge funds own 96.10% of the company's stock.

Voya Financial Trading Down 0.8%

Voya Financial stock traded down $0.64 during midday trading on Thursday, reaching $75.17. The stock had a trading volume of 120,419 shares, compared to its average volume of 924,418. Voya Financial, Inc. has a twelve month low of $52.43 and a twelve month high of $84.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 0.60 and a beta of 0.99. The firm's fifty day simple moving average is $71.91 and its two-hundred day simple moving average is $68.00.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its 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. The business had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.94 billion. Voya Financial had a return on equity of 13.72% and a net margin of 6.73%.Voya Financial's revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.18 earnings per share. Equities analysts anticipate that Voya Financial, Inc. will post 8.39 EPS for the current fiscal year.

Voya Financial Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on VOYA. Keefe, Bruyette & Woods increased their price objective on Voya Financial from $80.00 to $83.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. Wells Fargo & Company upped their price target on shares of Voya Financial from $76.00 to $82.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Morgan Stanley lifted their price objective on Voya Financial from $89.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. UBS Group lifted their target price on shares of Voya Financial from $87.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Evercore ISI raised their price objective on Voya Financial from $84.00 to $86.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $83.70.

Voya Financial Company 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.