State of New Jersey Common Pension Fund D Cuts Position in Voya Financial, Inc. (NYSE:VOYA)

State of New Jersey Common Pension Fund D decreased its position in shares of Voya Financial, Inc. (NYSE:VOYA) by 2.4% during the third quarter, HoldingsChannel reports. The firm owned 28,852 shares of the asset manager’s stock after selling 707 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Voya Financial were worth $2,286,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in VOYA. V Square Quantitative Management LLC purchased a new position in shares of Voya Financial during the 3rd quarter valued at about $29,000. UMB Bank n.a. raised its stake in shares of Voya Financial by 118.9% during the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after acquiring an additional 239 shares in the last quarter. Quarry LP bought a new stake in shares of Voya Financial in the 2nd quarter worth approximately $61,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Voya Financial by 6,850.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 822 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Voya Financial by 3,640.9% during the 3rd quarter. Blue Trust Inc. now owns 823 shares of the asset manager’s stock valued at $65,000 after purchasing an additional 801 shares during the last quarter. Institutional investors own 96.10% of the company’s stock.

Voya Financial Stock Down 1.5 %

VOYA stock opened at $82.11 on Thursday. Voya Financial, Inc. has a fifty-two week low of $63.11 and a fifty-two week high of $84.30. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 0.59 and a beta of 1.03. The business’s 50 day moving average price is $78.88 and its two-hundred day moving average price is $74.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.31 and a current ratio of 0.31.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.07. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the firm earned $2.07 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts forecast that Voya Financial, Inc. will post 8.21 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, November 26th. Voya Financial’s payout ratio is currently 28.66%.

Insiders Place Their Bets

In other news, insider Tony D. Oh sold 715 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total value of $58,594.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Morgan Stanley cut their price target on shares of Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Evercore ISI raised their price target on Voya Financial from $79.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Citigroup boosted their price objective on Voya Financial from $86.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada raised their target price on shares of Voya Financial from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, UBS Group upgraded shares of Voya Financial to a “strong-buy” rating in a report on Monday. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Voya Financial presently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

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.