Park Avenue Securities LLC Boosts Stock Position in Voya Financial, Inc. (NYSE:VOYA)

Park Avenue Securities LLC boosted its position in Voya Financial, Inc. (NYSE:VOYA - Free Report) by 63.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,665 shares of the asset manager's stock after acquiring an additional 6,055 shares during the quarter. Park Avenue Securities LLC's holdings in Voya Financial were worth $1,061,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Vident Advisory LLC bought a new stake in shares of Voya Financial during the fourth quarter worth $250,000. Victory Capital Management Inc. grew its stake in shares of Voya Financial by 3.6% during the fourth quarter. Victory Capital Management Inc. now owns 327,783 shares of the asset manager's stock worth $22,561,000 after buying an additional 11,336 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of Voya Financial by 420.8% during the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 64,398 shares of the asset manager's stock worth $4,812,000 after buying an additional 52,032 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Voya Financial by 15.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager's stock worth $445,487,000 after purchasing an additional 876,399 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of Voya Financial by 1.9% during the fourth quarter. Truist Financial Corp now owns 69,417 shares of the asset manager's stock worth $4,778,000 after purchasing an additional 1,301 shares during the period. 96.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VOYA has been the topic of a number of recent research reports. Bank of America reiterated an "underperform" rating and set a $71.00 price target (down previously from $79.00) on shares of Voya Financial in a report on Friday, March 28th. Wells Fargo & Company boosted their target price on shares of Voya Financial from $69.00 to $76.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their target price on shares of Voya Financial from $81.00 to $80.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their price objective 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. Finally, Barclays set a $70.00 target price on shares of Voya Financial in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $81.92.

Voya Financial Price Performance

Shares of VOYA traded up $1.57 during mid-day trading on Monday, reaching $67.97. 1,001,004 shares of the stock traded hands, compared to its average volume of 887,402. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 0.48 and a beta of 0.99. Voya Financial, Inc. has a 1 year low of $52.43 and a 1 year high of $84.30. The firm has a fifty day moving average price of $63.58 and a 200 day moving average price of $67.62. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59.

Voya Financial (NYSE:VOYA - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The asset manager reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.56. The firm had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.94 billion. Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. The business's quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.77 earnings per share. As a group, equities research analysts predict that Voya Financial, Inc. will post 8.39 earnings per share for the current year.

Voya Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, May 27th will be given a $0.45 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.80 annualized dividend and a yield of 2.65%. Voya Financial's dividend payout ratio (DPR) is presently 33.96%.

Insider Activity

In related news, Director Yvette S. Butler sold 1,700 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $66.18, for a total transaction of $112,506.00. Following the completion of the sale, the director now directly owns 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 legal filing with the SEC, which is available through this link. Corporate insiders own 0.99% of the company's stock.

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.