Voya Financial, Inc. (NYSE:VOYA) Sees Large Increase in Short Interest

Key Points

• Voya Financial experienced a 156.7% increase in short interest in July, with total short interest reaching 2,080,000 shares.
• The company announced a quarterly dividend of $0.45 per share, reflecting a dividend yield of 2.7%.
• Analysts have mixed ratings on Voya Financial, with target prices ranging from $70.00 to $89.00, while the consensus rating is currently "Hold."

Voya Financial, Inc. (NYSE:VOYA - Get Free Report) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 2,080,000 shares, agrowthof156.7% from the June 30th total of 810,200 shares. Approximately2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 870,100 shares, the days-to-cover ratio is currently 2.4 days. Based on an average daily trading volume, of 870,100 shares, the days-to-cover ratio is currently 2.4 days. Approximately2.2% of the shares of the stock are short sold.

Voya Financial Stock Down 3.9%

NYSE VOYA opened at $67.29 on Monday. The stock has a fifty day moving average of $69.55 and a 200-day moving average of $67.60. The stock has a market capitalization of $6.47 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 0.62 and a beta of 0.99. Voya Financial has a 52 week low of $52.43 and a 52 week high of $84.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.28 and a current ratio of 0.28.

Voya Financial (NYSE:VOYA - Get Free Report) last released its earnings results on Tuesday, May 6th. The asset manager reported $2.15 EPS for the quarter, beating the consensus estimate of $1.59 by $0.56. The company had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.94 billion. Voya Financial had a return on equity of 14.05% and a net margin of 7.18%. The business's revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the firm earned $1.77 EPS. On average, equities research analysts forecast that Voya Financial will post 8.39 EPS for the current year.

Voya Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, August 26th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 26th. Voya Financial's dividend payout ratio (DPR) is 33.96%.

Analyst Ratings Changes

Several research firms recently commented on VOYA. JPMorgan Chase & Co. raised their target price on Voya Financial from $80.00 to $89.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Barclays raised their target price on Voya Financial from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. UBS Group cut their target price on Voya Financial from $89.00 to $88.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Keefe, Bruyette & Woods raised their target price on Voya Financial from $80.00 to $83.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company lifted their price objective on Voya Financial from $76.00 to $82.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $83.50.

Insider Activity at Voya Financial

In related news, Director Yvette S. Butler sold 1,700 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $66.18, for a total transaction of $112,506.00. Following the completion of the transaction, the director owned 355 shares in the company, valued at $23,493.90. This trade represents a 82.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Voya Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc increased its stake in shares of Voya Financial by 225.6% in the 2nd quarter. IFP Advisors Inc now owns 433 shares of the asset manager's stock valued at $31,000 after buying an additional 300 shares during the period. Quarry LP acquired a new stake in shares of Voya Financial during the fourth quarter worth $37,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Voya Financial during the first quarter worth $47,000. Geneos Wealth Management Inc. grew its stake in shares of Voya Financial by 44.0% during the first quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager's stock worth $49,000 after purchasing an additional 223 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Voya Financial by 666.4% during the first quarter. Versant Capital Management Inc now owns 889 shares of the asset manager's stock worth $60,000 after purchasing an additional 773 shares during the period. 96.10% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.