Boston Partners Trims Position in Voya Financial, Inc. (NYSE:VOYA)

Key Points

• Boston Partners reduced its stake in Voya Financial by 2.3%, owning approximately 2.06% of the firm worth around $133 million after selling 46,706 shares in the first quarter.
• Voya Financial's latest reported earnings showed an EPS of $2.40, surpassing the consensus estimate by $0.31, although revenue for the quarter decreased by 2.6% year-over-year.
• The company recently declared a quarterly dividend of $0.45, with an annualized yield of 2.4%, expected to be paid on September 26th.

Boston Partners cut its stake in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,979,199 shares of the asset manager's stock after selling 46,706 shares during the period. Boston Partners owned about 2.06% of Voya Financial worth $133,092,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kelly Financial Group LLC purchased a new position in Voya Financial during the first quarter valued at $270,680,000. First Trust Advisors LP raised its stake in shares of Voya Financial by 52.9% in the fourth quarter. First Trust Advisors LP now owns 1,437,597 shares of the asset manager's stock worth $98,950,000 after buying an additional 497,348 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of Voya Financial by 278.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 460,803 shares of the asset manager's stock valued at $31,717,000 after buying an additional 339,139 shares in the last quarter. Algebris UK Ltd lifted its position in shares of Voya Financial by 250.0% during the 1st quarter. Algebris UK Ltd now owns 354,351 shares of the asset manager's stock valued at $22,206,000 after buying an additional 253,100 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Voya Financial during the 1st quarter valued at approximately $16,683,000. 96.10% of the stock is owned by institutional investors.

Voya Financial Price Performance

Voya Financial stock traded down $0.95 during mid-day trading on Friday, reaching $74.01. 590,341 shares of the company's stock traded hands, compared to its average volume of 888,114. Voya Financial, Inc. has a 12-month low of $52.43 and a 12-month high of $84.30. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.44. The stock has a 50 day moving average of $70.65 and a two-hundred day moving average of $67.72. The company has a market cap of $7.14 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 0.60 and a beta of 0.99.

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

Voya Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, August 26th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 26th. Voya Financial's dividend payout ratio (DPR) is presently 36.00%.

Analyst Ratings Changes

A number of equities research analysts have commented on VOYA shares. Wells Fargo & Company raised their target price on shares of Voya Financial from $76.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods raised their price objective on shares of Voya Financial from $80.00 to $83.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. UBS Group upped their target price on shares of Voya Financial from $87.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. increased their price target on Voya Financial from $80.00 to $89.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Finally, Barclays boosted their price objective on Voya Financial from $70.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $83.40.

Insider Activity

In other news, Director Yvette S. Butler sold 1,700 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $66.18, for a total transaction of $112,506.00. Following the transaction, the director owned 355 shares of the company's stock, valued at approximately $23,493.90. The trade was a 82.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.99% of the stock is owned by insiders.

Voya Financial Company 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.