Woodline Partners LP Purchases Shares of 443,062 Voya Financial, Inc. $VOYA

Key Points

• Woodline Partners LP has acquired a new stake in Voya Financial, purchasing 443,062 shares valued at approximately $30 million, representing about 0.46% ownership of the company.
• Analysts have increased their target price for Voya Financial, with estimates ranging from $82.00 to $90.00, indicating a positive outlook with a consensus rating of "Hold."
• Voya Financial reported quarterly earnings of $2.40 EPS, exceeding expectations, despite a 2.6% decline in revenue year-over-year, alongside announcing a quarterly dividend of $0.45 per share.

Woodline Partners LP purchased a new stake in Voya Financial, Inc. (NYSE:VOYA - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 443,062 shares of the asset manager's stock, valued at approximately $30,022,000. Woodline Partners LP owned 0.46% of Voya Financial at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Voya Financial in the 1st quarter valued at approximately $47,000. Versant Capital Management Inc raised its position in shares of Voya Financial by 666.4% in the 1st quarter. Versant Capital Management Inc now owns 889 shares of the asset manager's stock valued at $60,000 after acquiring an additional 773 shares during the period. Blue Trust Inc. raised its position in shares of Voya Financial by 36.9% in the 1st quarter. Blue Trust Inc. now owns 950 shares of the asset manager's stock valued at $64,000 after acquiring an additional 256 shares during the period. LRI Investments LLC raised its position in shares of Voya Financial by 26.1% in the 4th quarter. LRI Investments LLC now owns 1,310 shares of the asset manager's stock valued at $90,000 after acquiring an additional 271 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Voya Financial by 142.9% in the 1st quarter. Bessemer Group Inc. now owns 1,343 shares of the asset manager's stock valued at $91,000 after acquiring an additional 790 shares during the period. 96.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays increased their target price on Voya Financial from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. UBS Group increased their target price on Voya Financial from $87.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Royal Bank Of Canada increased their target price on Voya Financial from $80.00 to $87.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Wells Fargo & Company increased their target price on Voya Financial from $76.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Finally, Evercore ISI increased their target price on Voya Financial from $84.00 to $86.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.70.

Voya Financial Stock Up 0.8%

Shares of VOYA traded up $0.58 during mid-day trading on Friday, hitting $77.21. 708,620 shares of the company's stock were exchanged, compared to its average volume of 742,248. The company has a market cap of $7.44 billion, a PE ratio of 15.44, a P/E/G ratio of 0.61 and a beta of 1.00. Voya Financial, Inc. has a 52 week low of $52.43 and a 52 week high of $84.30. The company has a 50-day simple moving average of $73.28 and a 200 day simple moving average of $68.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.28 and a quick ratio of 0.28.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The asset manager reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.31. The company had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.94 billion. Voya Financial had a net margin of 6.73% and a return on equity of 13.72%. The business's quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the business earned $2.18 EPS. On average, research analysts forecast that Voya Financial, Inc. will post 8.39 earnings per share 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. Stockholders of record on Tuesday, August 26th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 26th. Voya Financial's dividend payout ratio is presently 36.00%.

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.