Victory Capital Management Inc. Increases Position in Voya Financial, Inc. (NYSE:VOYA)

Victory Capital Management Inc. boosted its position in Voya Financial, Inc. (NYSE:VOYA) by 12.2% during the third quarter, Holdings Channel reports. The fund owned 316,447 shares of the asset manager’s stock after acquiring an additional 34,413 shares during the period. Victory Capital Management Inc.’s holdings in Voya Financial were worth $25,069,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Aigen Investment Management LP increased its position in shares of Voya Financial by 14.0% during the 3rd quarter. Aigen Investment Management LP now owns 6,533 shares of the asset manager’s stock valued at $518,000 after purchasing an additional 800 shares during the last quarter. Meritage Portfolio Management boosted its stake in Voya Financial by 11.2% in the third quarter. Meritage Portfolio Management now owns 8,314 shares of the asset manager’s stock worth $659,000 after buying an additional 837 shares in the last quarter. Leeward Investments LLC MA purchased a new stake in Voya Financial in the third quarter worth approximately $19,269,000. M&G PLC grew its position in Voya Financial by 4.6% during the third quarter. M&G PLC now owns 123,164 shares of the asset manager’s stock valued at $9,730,000 after acquiring an additional 5,458 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Voya Financial by 87.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 52,497 shares of the asset manager’s stock worth $4,159,000 after acquiring an additional 24,510 shares in the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Insider Buying and Selling

In related news, insider Tony D. Oh sold 715 shares of the company’s stock in a transaction 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 hyperlink. 1.37% of the stock is owned by insiders.

Analysts Set New Price Targets

VOYA has been the subject of a number of research reports. Bank of America upped their price objective on shares of Voya Financial from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company upped their price target on shares of Voya Financial from $87.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Royal Bank of Canada boosted their target price on Voya Financial from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Morgan Stanley dropped their target price on Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, Evercore ISI lifted their price target on Voya Financial from $79.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Voya Financial has an average rating of “Moderate Buy” and an average price target of $86.00.

Voya Financial Price Performance

Shares of VOYA stock opened at $81.43 on Monday. 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, Inc. has a fifty-two week low of $63.11 and a fifty-two week high of $84.30. The firm has a market cap of $7.84 billion, a P/E ratio of 12.97, a P/E/G ratio of 0.58 and a beta of 1.03. The business’s 50 day moving average price is $79.32 and its 200-day moving average price is $74.20.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.07. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the business posted $2.07 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts anticipate that Voya Financial, Inc. will post 8.2 earnings per share for the current year.

Voya Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, November 26th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Tuesday, November 26th. Voya Financial’s payout ratio is currently 28.66%.

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.