Tocqueville Asset Management L.P. Invests $1.76 Million in Voya Financial, Inc. $VOYA

Key Points

• Tocqueville Asset Management purchased 19,500 Voya Financial shares worth approximately $1.76 million during the second quarter. Institutional investors collectively own 96.1% of VOYA’s outstanding stock, including major new positions from BlackRock and Deutsche Bank.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $102.85; targets range from $79 to $125. UBS issued the highest target and a “buy” rating.
• Voya reported quarterly EPS of $1.51, missing the $1.98 consensus estimate, while revenue fell 4.3% year over year to $1.88 billion. The company declared a quarterly dividend of $0.47 per share, equal to a 1.9% annualized yield.

Tocqueville Asset Management L.P. purchased a new stake in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 19,500 shares of the asset manager's stock, valued at approximately $1,765,000.

Several other institutional investors also recently bought and sold shares of VOYA. Danske Bank A S purchased a new stake in Voya Financial in the 2nd quarter worth approximately $27,000. Four Tree Island Advisory LLC acquired a new stake in shares of Voya Financial during the 2nd quarter worth approximately $3,161,000. Pzena Investment Management LLC purchased a new position in shares of Voya Financial during the 2nd quarter valued at approximately $319,539,000. BlackRock Inc. purchased a new position in shares of Voya Financial during the 2nd quarter valued at approximately $850,187,000. Finally, Deutsche Bank AG purchased a new stake in Voya Financial during the second quarter worth $1,010,000. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on VOYA. Jefferies Financial Group raised their price target on shares of Voya Financial from $80.00 to $85.00 and gave the company a "hold" rating in a research report on Friday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of Voya Financial from $105.00 to $109.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Barclays increased 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. Atlantic Securities set a $79.00 target price on Voya Financial in a research report on Wednesday, July 15th. Finally, UBS Group lifted their price target on Voya Financial from $95.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, July 10th. 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $102.85.

Insider Transactions at Voya Financial

In other news, insider Trevor Ogle sold 3,994 shares of the company's stock in a transaction on Monday, June 8th. The shares were 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 of the company's stock, valued at $259,830. This represents a 58.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is currently owned by company insiders.

Voya Financial Stock Performance

NYSE VOYA opened at $97.67 on Friday. The company has a market cap of $8.85 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89. The stock's 50 day simple moving average is $96.60 and its 200-day simple moving average is $82.64. Voya Financial, Inc. has a 1-year low of $64.50 and a 1-year high of $103.85. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.27 and a quick ratio of 0.27.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.98 by ($0.47). Voya Financial had a return on equity of 12.31% and a net margin of 7.45%.The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period in the prior year, the firm earned $1.66 earnings per share. The business's revenue was down 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that Voya Financial, Inc. will post 9.27 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Wednesday, August 26th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, August 26th. Voya Financial's payout ratio is 31.70%.

Voya Financial Company 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.

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