Corebridge Financial Inc. Reduces Holdings in Voya Financial, Inc. (NYSE:VOYA)

Corebridge Financial Inc. lowered its position in Voya Financial, Inc. (NYSE:VOYA) by 6.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 108,888 shares of the asset manager’s stock after selling 7,405 shares during the quarter. Corebridge Financial Inc.’s holdings in Voya Financial were worth $7,495,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Impax Asset Management Group plc increased its stake in shares of Voya Financial by 277.8% in the fourth quarter. Impax Asset Management Group plc now owns 2,898,785 shares of the asset manager’s stock worth $199,062,000 after purchasing an additional 2,131,578 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Voya Financial during the 4th quarter valued at approximately $67,214,000. Bank of New York Mellon Corp boosted its holdings in Voya Financial by 15.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager’s stock worth $445,487,000 after buying an additional 876,399 shares during the period. Hennessy Advisors Inc. purchased a new position in Voya Financial in the 4th quarter valued at approximately $47,155,000. Finally, FMR LLC raised its holdings in Voya Financial by 25.9% during the 3rd quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock valued at $228,474,000 after acquiring an additional 592,523 shares during the period. 96.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VOYA shares. Keefe, Bruyette & Woods reduced their price target on Voya Financial from $90.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Evercore ISI reduced their target price on Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a report on Tuesday, December 10th. Wells Fargo & Company upped their price target on Voya Financial from $76.00 to $79.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Bank of America restated an “underperform” rating and issued a $71.00 price objective (down from $79.00) on shares of Voya Financial in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Voya Financial from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.45.

Voya Financial Price Performance

VOYA stock opened at $67.32 on Friday. The firm has a 50 day simple moving average of $70.45 and a two-hundred day simple moving average of $74.42. The stock has a market cap of $6.43 billion, a PE ratio of 11.00, a P/E/G ratio of 0.48 and a beta of 1.03. Voya Financial, Inc. has a one year low of $64.10 and a one year high of $84.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.30 and a quick ratio of 0.31.

Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. On average, analysts predict that Voya Financial, Inc. will post 8.39 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, February 25th. This represents a $1.80 annualized dividend and a dividend yield of 2.67%. Voya Financial’s dividend payout ratio (DPR) is presently 29.41%.

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.