Wells Fargo & Company MN cut its position in shares of Voya Financial Inc (NYSE:VOYA) by 23.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,026 shares of the asset manager’s stock after selling 52,672 shares during the quarter. Wells Fargo & Company MN owned 0.14% of Voya Financial worth $7,016,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its stake in Voya Financial by 31.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 936 shares of the asset manager’s stock worth $57,000 after buying an additional 224 shares in the last quarter. Voit & Company LLC boosted its position in shares of Voya Financial by 1.7% during the 1st quarter. Voit & Company LLC now owns 18,278 shares of the asset manager’s stock valued at $741,000 after acquiring an additional 303 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Voya Financial by 75.0% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 840 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 360 shares during the period. Baird Financial Group Inc. increased its stake in Voya Financial by 1.2% in the fourth quarter. Baird Financial Group Inc. now owns 35,044 shares of the asset manager’s stock valued at $2,137,000 after acquiring an additional 427 shares during the period. Finally, Raymond James Trust N.A. raised its position in Voya Financial by 8.2% in the first quarter. Raymond James Trust N.A. now owns 6,672 shares of the asset manager’s stock worth $270,000 after purchasing an additional 505 shares in the last quarter.
Several equities research analysts have recently weighed in on VOYA shares. Piper Sandler lowered their price objective on Voya Financial from $62.00 to $58.00 and set an “overweight” rating on the stock in a research note on Friday, April 3rd. Credit Suisse Group restated a “buy” rating and issued a $66.00 target price on shares of Voya Financial in a research note on Wednesday, May 6th. SunTrust Banks lowered their target price on shares of Voya Financial from $65.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, May 15th. Royal Bank of Canada cut their price target on shares of Voya Financial from $72.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Finally, Cfra reduced their price target on shares of Voya Financial from $69.00 to $50.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $58.67.
Voya Financial stock opened at $45.62 on Wednesday. The business’s 50-day simple moving average is $45.54 and its 200 day simple moving average is $50.76. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.62. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of -11.67 and a beta of 1.41. Voya Financial Inc has a 12-month low of $29.75 and a 12-month high of $63.81.
Voya Financial (NYSE:VOYA) last released its earnings results on Tuesday, May 5th. The asset manager reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.23. Voya Financial had a negative net margin of 6.66% and a positive return on equity of 7.37%. The company had revenue of $225.00 million for the quarter, compared to the consensus estimate of $224.19 million. During the same period in the prior year, the company posted $0.87 EPS. As a group, sell-side analysts expect that Voya Financial Inc will post 4.28 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, May 29th were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $0.60 annualized dividend and a dividend yield of 1.32%. Voya Financial’s dividend payout ratio is currently 14.22%.
Voya Financial Company Profile
Voya Financial, Inc operates as a retirement, investment, and employee benefits company in the United States. It operates through four segments: Retirement, Investment Management, Employee Benefits, and Individual Life. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and financial services, as well as financial planning and advisory services.
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