Voya Financial, Inc. $VOYA Position Boosted by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Voya Financial stake by 141.8% in the third quarter, bringing its holdings to 303,681 shares valued at approximately $28.7 million. Institutional investors collectively own 96.1% of the company.
• Wall Street analysts maintain a generally positive outlook, with Voya carrying a consensus “Moderate Buy” rating and an average price target of $103.69.
• Voya reported quarterly earnings of $1.51 per share, below the $1.98 consensus estimate, while revenue declined 4.3% year over year. The company pays a quarterly dividend of $0.47 per share, representing a 2.0% annualized yield.

Assenagon Asset Management S.A. boosted its holdings in Voya Financial, Inc. (NYSE:VOYA - Free Report) by 141.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 303,681 shares of the asset manager's stock after buying an additional 178,070 shares during the period. Assenagon Asset Management S.A. owned approximately 0.34% of Voya Financial worth $28,692,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Farther Finance Advisors LLC grew its stake in shares of Voya Financial by 8.4% in the third quarter. Farther Finance Advisors LLC now owns 1,863 shares of the asset manager's stock worth $176,000 after purchasing an additional 144 shares in the last quarter. Versant Capital Management Inc grew its position in Voya Financial by 29.6% in the 3rd quarter. Versant Capital Management Inc now owns 696 shares of the asset manager's stock valued at $66,000 after buying an additional 159 shares in the last quarter. Greenleaf Trust increased its stake in Voya Financial by 4.8% during the 2nd quarter. Greenleaf Trust now owns 3,857 shares of the asset manager's stock valued at $349,000 after buying an additional 176 shares during the period. Root Financial Partners LLC increased 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 buying an additional 214 shares during the period. Finally, Twin Capital Management Inc. increased its stake in Voya Financial by 2.0% during the 1st quarter. Twin Capital Management Inc. now owns 12,538 shares of the asset manager's stock valued at $857,000 after buying an additional 242 shares during the period. Institutional investors own 96.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Evercore reiterated an "outperform" rating and issued a $111.00 price objective on shares of Voya Financial in a report on Friday, August 7th. Weiss Ratings upgraded Voya Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, September 29th. TD Cowen lifted their price target on Voya Financial from $112.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada boosted their price objective on Voya Financial from $107.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Finally, Morgan Stanley upped their price objective on Voya Financial from $92.00 to $105.00 and gave the company an "overweight" rating in a report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Voya Financial presently has a consensus rating of "Moderate Buy" and an average price target of $103.69.

Voya Financial Stock Performance

Shares of NYSE VOYA opened at $93.92 on Monday. The stock's fifty day simple moving average is $99.21 and its 200 day simple moving average is $90.89. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 0.94 and a beta of 0.90. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.51. Voya Financial, Inc. has a 52-week low of $64.50 and a 52-week high of $105.64.

Voya Financial (NYSE:VOYA - Get Free Report) last announced its earnings results on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.47). Voya Financial had a net margin of 7.45% and a return on equity of 12.31%. The company had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.90 billion. During the same period in the prior year, the company earned $1.66 earnings per share. The company's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that Voya Financial, Inc. will post 9.21 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Wednesday, August 26th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Wednesday, August 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.0%. Voya Financial's dividend payout ratio is currently 31.70%.

Voya Financial Profile

Voya Financial, Inc is a financial services company that helps individuals, employers and institutions plan, invest and prepare for retirement. The company operates primarily in the United States and focuses on retirement plans, employee benefits and investment management.

Voya's retirement business provides workplace retirement plans and related services, including plan administration, participant education and advice. Its employee benefits business offers products and services such as group life insurance, disability insurance, supplemental health benefits and health savings account solutions.

Through its investment management operations, Voya serves institutional and individual investors with investment strategies across public and private markets.

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