VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Stake in Voya Financial, Inc. $VOYA

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET AL purchased 484,200 shares of Voya Financial, valued at approximately $34.38 million, indicating growing interest from institutional investors.
• Voya Financial reported earnings of $2.40 per share for the last quarter, surpassing estimates and showcasing a net margin of 6.73% despite a year-over-year revenue decline of 2.6%.
• The company recently declared a quarterly dividend of $0.45, yielding 2.5%, with a payout ratio of 36%, reflecting its commitment to returning value to shareholders.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 484,200 shares of the asset manager's stock, valued at approximately $34,378,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.50% of Voya Financial at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Voya Financial by 23.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,679,580 shares of the asset manager's stock valued at $384,849,000 after acquiring an additional 1,095,190 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Voya Financial by 5.4% during 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 in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Voya Financial by 1.7% during the 2nd quarter. Pzena Investment Management LLC now owns 3,661,257 shares of the asset manager's stock valued at $259,949,000 after acquiring an additional 62,093 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Voya Financial by 7.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,369,510 shares of the asset manager's stock worth $160,552,000 after buying an additional 163,211 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Voya Financial by 8.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 662,058 shares of the asset manager's stock worth $44,861,000 after buying an additional 51,376 shares during the period. Institutional investors and hedge funds own 96.10% of the company's stock.

Voya Financial Price Performance

VOYA opened at $73.22 on Monday. The company has a 50-day moving average of $75.12 and a 200-day moving average of $69.33. The company has a market capitalization of $7.06 billion, a P/E ratio of 14.64, a PEG ratio of 0.53 and a beta of 0.98. Voya Financial, Inc. has a 1-year low of $52.43 and a 1-year high of $84.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.28 and a current ratio of 0.28.

Voya Financial (NYSE:VOYA - Get Free Report) last released its 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. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. Voya Financial had a net margin of 6.73% and a return on equity of 13.72%. The company's revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.18 EPS. Equities analysts expect that Voya Financial, Inc. will post 8.39 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Tuesday, August 26th were issued a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $1.80 annualized dividend and a dividend yield of 2.5%. Voya Financial's payout ratio is 36.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Voya Financial from $90.00 to $91.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their price target on shares of Voya Financial from $83.00 to $86.00 and gave the stock an "outperform" rating in a research note on Thursday, October 9th. Wells Fargo & Company lifted their price target on shares of Voya Financial from $82.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on shares of Voya Financial from $80.00 to $87.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Finally, Barclays lifted their price target on shares of Voya Financial from $81.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $85.00.

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.

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