Trust Point Inc. Makes New $204,000 Investment in Voya Financial, Inc. (NYSE:VOYA)

Trust Point Inc. bought a new position in shares of Voya Financial, Inc. (NYSE:VOYA) during the 3rd quarter, HoldingsChannel reports. The firm bought 2,569 shares of the asset manager’s stock, valued at approximately $204,000.

Other institutional investors have also modified their holdings of the company. Hohimer Wealth Management LLC increased its holdings in shares of Voya Financial by 1.7% during the 1st quarter. Hohimer Wealth Management LLC now owns 8,452 shares of the asset manager’s stock valued at $625,000 after purchasing an additional 140 shares in the last quarter. Arjuna Capital raised its holdings in Voya Financial by 0.8% in the 2nd quarter. Arjuna Capital now owns 19,685 shares of the asset manager’s stock valued at $1,401,000 after buying an additional 161 shares during the period. UMB Bank n.a. raised its holdings in Voya Financial by 118.9% in the 3rd quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock valued at $35,000 after buying an additional 239 shares during the period. Blair William & Co. IL increased its stake in Voya Financial by 5.3% during the first quarter. Blair William & Co. IL now owns 5,380 shares of the asset manager’s stock worth $398,000 after purchasing an additional 272 shares during the period. Finally, State of Michigan Retirement System increased its stake in Voya Financial by 1.2% during the first quarter. State of Michigan Retirement System now owns 25,316 shares of the asset manager’s stock worth $1,871,000 after purchasing an additional 300 shares during the period. 96.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VOYA has been the subject of a number of analyst reports. Citigroup boosted their price objective on Voya Financial from $86.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler upped their price target on Voya Financial from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada increased their price objective on Voya Financial from $83.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Wells Fargo & Company raised their price target on Voya Financial from $87.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group raised their price target on Voya Financial from $78.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

Voya Financial Stock Performance

Voya Financial stock opened at $83.54 on Monday. The stock’s 50-day moving average is $74.31 and its 200-day moving average is $72.52. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 0.59 and a beta of 1.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.30 and a quick ratio of 0.30. Voya Financial, Inc. has a 12 month low of $63.02 and a 12 month high of $83.93.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, July 30th. The asset manager reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.13. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.87 billion. Voya Financial had a return on equity of 16.11% and a net margin of 10.87%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $2.31 EPS. Equities analysts anticipate that Voya Financial, Inc. will post 8.31 earnings per share for the current year.

Voya Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, August 27th were issued a dividend of $0.45 per share. This is an increase from Voya Financial’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Tuesday, August 27th. Voya Financial’s dividend payout ratio (DPR) is presently 23.72%.

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.