Westbourne Investments Inc. Makes New $929,000 Investment in Voya Financial, Inc. $VOYA

Key Points

• Westbourne Investments Inc. acquired 13,715 shares of Voya Financial, Inc. for approximately $929,000 during the first quarter.
• Analysts have raised their price targets for Voya Financial, with a consensus average target of $83.70 and six analysts rating it as a Buy.
• Voya Financial recently declared a quarterly dividend of $0.45, yielding 2.4% annually, with a payout ratio of 36.00%.

Westbourne Investments Inc. purchased a new position in Voya Financial, Inc. (NYSE:VOYA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,715 shares of the asset manager's stock, valued at approximately $929,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its position in shares of Voya Financial by 87.1% during the fourth quarter. BNP Paribas Financial Markets now owns 106,412 shares of the asset manager's stock worth $7,324,000 after acquiring an additional 49,534 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Voya Financial by 42.4% during the 4th quarter. Cetera Investment Advisers now owns 7,391 shares of the asset manager's stock valued at $509,000 after purchasing an additional 2,200 shares during the last quarter. EP Wealth Advisors LLC grew its position in shares of Voya Financial by 8.8% during the fourth quarter. EP Wealth Advisors LLC now owns 4,461 shares of the asset manager's stock valued at $307,000 after purchasing an additional 361 shares in the last quarter. Deutsche Bank AG grew its position in shares of Voya Financial by 185.4% during the fourth quarter. Deutsche Bank AG now owns 55,284 shares of the asset manager's stock valued at $3,805,000 after purchasing an additional 120,010 shares in the last quarter. Finally, Ethic Inc. increased its holdings in shares of Voya Financial by 4.0% in the fourth quarter. Ethic Inc. now owns 12,049 shares of the asset manager's stock worth $829,000 after purchasing an additional 465 shares during the last quarter. Institutional investors own 96.10% of the company's stock.

Analyst Ratings Changes

VOYA has been the subject of a number of research reports. Evercore ISI increased their price target on Voya Financial from $84.00 to $86.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. Barclays increased their target price 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. Royal Bank Of Canada boosted their price target on shares of Voya Financial from $80.00 to $87.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. JPMorgan Chase & Co. increased their price objective on shares of Voya Financial from $80.00 to $89.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Finally, UBS Group boosted 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. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $83.70.

Voya Financial Trading Up 0.2%

Shares of Voya Financial stock traded up $0.15 during trading on Monday, hitting $77.34. The stock had a trading volume of 239,723 shares, compared to its average volume of 923,244. Voya Financial, Inc. has a 12 month low of $52.43 and a 12 month high of $84.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.28 and a quick ratio of 0.28. The firm's fifty day simple moving average is $73.28 and its 200-day simple moving average is $68.17. The stock has a market cap of $7.46 billion, a PE ratio of 15.47, a PEG ratio of 0.61 and a beta of 1.00.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The asset manager reported $2.40 EPS for the quarter, beating the consensus estimate of $2.09 by $0.31. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. Voya Financial had a net margin of 6.73% and a return on equity of 13.72%. The firm's revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.18 EPS. As a group, sell-side analysts expect that Voya Financial, Inc. will post 8.39 EPS for the current fiscal year.

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, August 26th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 26th. Voya Financial's payout ratio is 36.00%.

Voya Financial 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.