Voya Financial, Inc. (NYSE:VOYA) Stock Position Increased by Algebris UK Ltd

Key Points

• Algebris UK Ltd significantly increased its position in Voya Financial by 250% during the first quarter, making it the firm's 8th largest position with 354,351 shares.
• Voya Financial reported earnings of $2.15 per share for the latest quarter, exceeding analysts' expectations of $1.59, amidst a 4% decline in revenue year-over-year.
• JPMorgan, UBS, and Barclays have recently updated their target prices for Voya Financial, with the stock receiving a consensus rating of "Hold" and an average target price of $83.50.

Algebris UK Ltd grew its holdings in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) by 250.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 354,351 shares of the asset manager's stock after acquiring an additional 253,100 shares during the quarter. Voya Financial accounts for approximately 4.0% of Algebris UK Ltd's investment portfolio, making the stock its 8th largest position. Algebris UK Ltd owned 0.37% of Voya Financial worth $22,206,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of VOYA. Bessemer Group Inc. raised its stake in shares of Voya Financial by 142.9% during the first quarter. Bessemer Group Inc. now owns 1,343 shares of the asset manager's stock valued at $91,000 after acquiring an additional 790 shares during the last quarter. Vident Advisory LLC bought a new stake in Voya Financial in the fourth quarter valued at approximately $250,000. Principal Financial Group Inc. boosted its holdings in Voya Financial by 0.3% in the first quarter. Principal Financial Group Inc. now owns 221,385 shares of the asset manager's stock valued at $15,001,000 after acquiring an additional 574 shares during the last quarter. U.S. Capital Wealth Advisors LLC bought a new stake in Voya Financial in the first quarter valued at approximately $385,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Voya Financial by 1,305.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 166,913 shares of the asset manager's stock worth $11,340,000 after purchasing an additional 155,038 shares during the period. Institutional investors and hedge funds own 96.10% of the company's stock.

Voya Financial Stock Down 4.3%

Shares of NYSE:VOYA traded down $2.99 during mid-day trading on Friday, hitting $67.01. 661,599 shares of the company traded hands, compared to its average volume of 936,442. The stock has a market cap of $6.45 billion, a P/E ratio of 12.65, a P/E/G ratio of 0.64 and a beta of 1.00. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.58. Voya Financial, Inc. has a 12-month low of $52.43 and a 12-month high of $84.30. The stock has a 50-day moving average price of $69.52 and a two-hundred day moving average price of $67.64.

Voya Financial (NYSE:VOYA - Get Free Report) last released its earnings results on Tuesday, May 6th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.56. The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.94 billion. Voya Financial had a return on equity of 14.05% and a net margin of 7.18%. Voya Financial's quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.77 earnings per share. On average, equities research analysts forecast that Voya Financial, Inc. will post 8.39 earnings per share for the current year.

Voya Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, August 26th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. Voya Financial's dividend payout ratio (DPR) is presently 33.96%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Voya Financial from $80.00 to $89.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Morgan Stanley set a $89.00 price target on shares of Voya Financial and gave the stock an "overweight" rating in a research report on Monday, July 14th. Barclays boosted their price target on shares of Voya Financial from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. UBS Group dropped their price target on shares of Voya Financial from $89.00 to $88.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Voya Financial from $80.00 to $83.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Voya Financial has an average rating of "Hold" and a consensus price target of $83.50.

Insider Transactions at Voya Financial

In other Voya Financial news, Director Yvette S. Butler sold 1,700 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $66.18, for a total value of $112,506.00. Following the completion of the transaction, the director owned 355 shares in the company, valued at $23,493.90. This represents a 82.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.99% of the stock is owned by company insiders.

Voya Financial 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.