Washington Capital Management Inc. Invests $490,000 in Voya Financial, Inc. $VOYA

Key Points

• Washington Capital Management Inc. made a new investment in Voya Financial, acquiring 6,900 shares worth approximately $490,000 in the second quarter.
• Voya Financial reported $2.40 earnings per share, surpassing estimates of $2.09, although its quarterly revenue decreased 2.6% year-over-year.
• The company announced a quarterly dividend of $0.45 per share, reflecting an annualized payout of $1.80 and a dividend yield of 2.4%.

Washington Capital Management Inc. acquired a new stake in shares of Voya Financial, Inc. (NYSE:VOYA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,900 shares of the asset manager's stock, valued at approximately $490,000.

Several other hedge funds have also bought and sold shares of VOYA. Price T Rowe Associates Inc. MD raised its holdings in Voya Financial by 23.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,679,580 shares of the asset manager's stock valued at $384,849,000 after buying an additional 1,095,190 shares during the last quarter. Wellington Management Group LLP raised its holdings in Voya Financial by 5.4% during the 1st quarter. Wellington Management Group LLP now owns 5,512,176 shares of the asset manager's stock valued at $373,505,000 after buying an additional 280,316 shares during the last quarter. Kelly Financial Group LLC bought a new stake in Voya Financial during the 1st quarter valued at $270,680,000. Pzena Investment Management LLC increased its position in Voya Financial by 0.9% during the 1st quarter. Pzena Investment Management LLC now owns 3,599,164 shares of the asset manager's stock valued at $243,879,000 after purchasing an additional 32,061 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Voya Financial by 7.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,369,510 shares of the asset manager's stock valued at $160,552,000 after purchasing an additional 163,211 shares during the period. 96.10% of the stock is currently owned by institutional investors.

Voya Financial Stock Performance

Shares of Voya Financial stock opened at $75.72 on Monday. The stock's fifty day moving average price is $74.01 and its 200-day moving average price is $68.67. Voya Financial, Inc. has a 12 month low of $52.43 and a 12 month high of $84.30. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.44. The firm has a market cap of $7.30 billion, a P/E ratio of 15.14, a P/E/G ratio of 0.56 and a beta of 1.00.

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 (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.31. Voya Financial had a return on equity of 13.72% and a net margin of 6.73%.The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm earned $2.18 earnings per share. The firm's quarterly revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts expect that Voya Financial, Inc. will post 8.39 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Tuesday, August 26th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. Voya Financial's payout ratio is 36.00%.

Analyst Ratings Changes

A number of analysts have recently weighed in on VOYA shares. JPMorgan Chase & Co. upped their target price 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. Wells Fargo & Company upped their target price on shares of Voya Financial from $76.00 to $82.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Royal Bank Of Canada upped their target price on shares of Voya Financial from $80.00 to $87.00 and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Barclays upped their target price on shares of Voya Financial from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Finally, UBS Group increased their price objective on shares of Voya Financial from $87.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $83.70.

About Voya Financial

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.

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