United Services Automobile Association Makes New Investment in Voya Financial, Inc. $VOYA

Key Points

• United Services Automobile Association acquired 6,453 shares of Voya Financial, valued at approximately $434,000 during the first quarter, highlighting institutional interest in the company.
• Equities analysts are optimistic, with target price increases from firms like Evercore ISI, JPMorgan Chase, and UBS Group, indicating a potential upside for Voya Financial's stock.
• Voya Financial announced a quarterly dividend of $0.45 per share, which translates to an annualized yield of 2.4%, reflecting healthy financial management amid slight revenue declines.

United Services Automobile Association bought a new stake in Voya Financial, Inc. (NYSE:VOYA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,453 shares of the asset manager's stock, valued at approximately $434,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in VOYA. Kelly Financial Group LLC acquired a new stake in shares of Voya Financial in the 1st quarter valued at approximately $270,680,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Voya Financial by 23.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,679,580 shares of the asset manager's stock worth $384,849,000 after buying an additional 1,095,190 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of 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 acquiring an additional 280,316 shares during the last quarter. Algebris UK Ltd lifted its stake in shares of Voya Financial by 250.0% in the 1st quarter. Algebris UK Ltd now owns 354,351 shares of the asset manager's stock valued at $22,206,000 after acquiring an additional 253,100 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Voya Financial during the 1st quarter worth $16,683,000. Institutional investors own 96.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Voya Financial from $80.00 to $89.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. UBS Group upped their price objective on Voya Financial from $87.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Evercore ISI lifted their target price on shares of Voya Financial from $84.00 to $86.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Morgan Stanley lifted their target price on Voya Financial from $89.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Finally, Wells Fargo & Company increased their price target on Voya Financial from $76.00 to $82.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $83.70.

Voya Financial Stock Up 0.8%

NYSE VOYA traded up $0.58 on Friday, reaching $77.21. The company had a trading volume of 708,620 shares, compared to its average volume of 742,248. The company's fifty day moving average is $73.28 and its 200 day moving average is $68.19. The stock has a market capitalization of $7.44 billion, a P/E ratio of 15.44, a P/E/G ratio of 0.61 and a beta of 1.00. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.44. Voya Financial, Inc. has a 52-week low of $52.43 and a 52-week high of $84.30.

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

Voya Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, August 26th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Voya Financial's dividend payout ratio is currently 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.