Voya Financial, Inc. $VOYA Holdings Reduced by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems reduced its Voya Financial position by 10.2% in the third quarter, selling 43,700 shares and retaining 384,412 shares worth approximately $36.3 million. Institutional investors collectively own 96.1% of the company.
• Voya’s latest quarterly results fell short of expectations, with EPS of $1.51 versus the $1.98 consensus estimate and revenue down 4.3% year over year to $1.88 billion.
• The company raised its quarterly dividend to $0.57 per share, equivalent to a $2.28 annual payout and a 2.3% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $103.69.

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its position in Voya Financial, Inc. (NYSE:VOYA - Free Report) by 10.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 384,412 shares of the asset manager's stock after selling 43,700 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.42% of Voya Financial worth $36,319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Danske Bank A S bought a new position in Voya Financial in the 2nd quarter worth approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Voya Financial during the 2nd quarter valued at $48,000. Root Financial Partners LLC raised its stake in Voya Financial by 59.6% during the 1st quarter. Root Financial Partners LLC now owns 573 shares of the asset manager's stock valued at $39,000 after acquiring an additional 214 shares in the last quarter. Versant Capital Management Inc raised its stake in Voya Financial by 29.6% during the 3rd quarter. Versant Capital Management Inc now owns 696 shares of the asset manager's stock valued at $66,000 after acquiring an additional 159 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Voya Financial during the 2nd quarter worth $84,000. Institutional investors own 96.10% of the company's stock.

Voya Financial Stock Performance

Shares of NYSE VOYA opened at $98.18 on Friday. The stock has a fifty day moving average price of $98.52 and a two-hundred day moving average price of $86.20. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market cap of $8.90 billion, a P/E ratio of 16.56, a PEG ratio of 1.00 and a beta of 0.90. Voya Financial, Inc. has a 1 year low of $64.50 and a 1 year high of $105.64.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.47). The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.90 billion. Voya Financial had a net margin of 7.45% and a return on equity of 12.31%. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.66 earnings per share. Research analysts forecast that Voya Financial, Inc. will post 9.17 EPS for the current fiscal year.

Voya Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Tuesday, November 24th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 24th. This is an increase from Voya Financial's previous quarterly dividend of $0.47. This represents a $2.28 dividend on an annualized basis and a yield of 2.3%. Voya Financial's dividend payout ratio is presently 31.70%.

Insider Buying and Selling

In other Voya Financial news, insider Trevor Ogle sold 2,093 shares of the business's stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $95.81, for a total value of $200,530.33. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.57% of the company's stock.

Wall Street Analyst Weigh In

VOYA has been the subject of several recent analyst reports. Royal Bank Of Canada increased their price target on Voya Financial from $107.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Jefferies Financial Group lifted their price objective on shares of Voya Financial from $80.00 to $85.00 and gave the company a "hold" rating in a research note on Friday, July 10th. Weiss Ratings raised shares of Voya Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, September 29th. TD Cowen increased their target price on shares of Voya Financial from $112.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Finally, Morgan Stanley raised their target price on shares of Voya Financial from $92.00 to $105.00 and gave the company an "overweight" rating in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Voya Financial has a consensus rating of "Moderate Buy" and a consensus price target of $103.69.

Voya Financial Company Profile

Voya Financial, Inc is a U.S.-based financial services company that helps individuals, employers and institutions plan for retirement, manage investments and address employee benefit needs. Its businesses are organized primarily around Retirement, Employee Benefits and Investment Management.

Voya's retirement business provides workplace retirement plans, including defined contribution and defined benefit solutions, as well as individual retirement products and advisory services. Its employee benefits operations offer products such as health, life, disability and supplemental insurance, along with benefits administration and related services for employers and their workers.

Through its investment management business, Voya provides institutional and individual investors with asset-management and advisory capabilities across a range of investment strategies.

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