VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 428,112 Voya Financial, Inc. $VOYA

Key Points

• Virginia Retirement Systems acquired 428,112 shares of Voya Financial worth approximately $38.8 million, representing about 0.47% of the company. Institutional investors collectively own 96.1% of Voya’s shares.
• Analyst sentiment remains favorable, with Voya receiving a consensus “Moderate Buy” rating and an average price target of $103.85, despite mixed individual ratings.
• Voya reported quarterly EPS of $1.51, below the $1.98 analyst consensus, while revenue declined 4.3% year over year to $1.88 billion. The company declared a quarterly dividend of $0.47, equivalent to a 1.8% annualized yield.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Voya Financial, Inc. (NYSE:VOYA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 428,112 shares of the asset manager's stock, valued at approximately $38,757,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.47% of Voya Financial at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in VOYA. California State Teachers Retirement System raised its position in Voya Financial by 8,471.7% in the 2nd quarter. California State Teachers Retirement System now owns 9,703,820 shares of the asset manager's stock worth $878,487,000 after purchasing an additional 9,590,613 shares during the period. BlackRock Inc. purchased a new position in shares of Voya Financial during the second quarter valued at approximately $850,187,000. Bank of New York Mellon Corp bought a new position in shares of Voya Financial during the second quarter valued at approximately $520,280,000. Wellington Management Group LLP grew its stake in shares of Voya Financial by 5.4% during the fourth quarter. Wellington Management Group LLP now owns 4,492,908 shares of the asset manager's stock valued at $334,677,000 after buying an additional 230,877 shares during the last quarter. Finally, Pzena Investment Management LLC raised its holdings in shares of Voya Financial by 1.3% in the first quarter. Pzena Investment Management LLC now owns 3,673,118 shares of the asset manager's stock worth $250,947,000 after buying an additional 46,906 shares during the period. 96.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VOYA has been the subject of a number of recent analyst reports. Weiss Ratings cut Voya Financial from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Jefferies Financial Group increased their target price on Voya Financial from $80.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, July 10th. JPMorgan Chase & Co. lifted their target price on Voya Financial from $105.00 to $109.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Evercore reissued an "outperform" rating and set a $111.00 target price on shares of Voya Financial in a research note on Friday, August 7th. Finally, Barclays upped their price target on shares of Voya Financial from $98.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Voya Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.85.

Voya Financial Stock Up 0.0%

Shares of NYSE:VOYA opened at $104.10 on Monday. Voya Financial, Inc. has a 52-week low of $64.50 and a 52-week high of $105.64. The stock has a market cap of $9.43 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 1.00 and a beta of 0.90. The business's 50 day moving average is $98.94 and its 200 day moving average is $84.68. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.51.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its earnings results on Tuesday, August 4th. The asset manager reported $1.51 earnings per share for the quarter, missing analysts' consensus estimates of $1.98 by ($0.47). Voya Financial had a net margin of 7.45% and a return on equity of 12.31%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the firm earned $1.66 earnings per share. The company's revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts predict that Voya Financial, Inc. will post 9.25 EPS for the current year.

Voya Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Wednesday, August 26th will be issued a $0.47 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.8%. Voya Financial's dividend payout ratio (DPR) is currently 31.70%.

About Voya Financial

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.