Oppenheimer Asset Management Inc. Reduces Stock Holdings in Voya Financial, Inc. (NYSE:VOYA)

Oppenheimer Asset Management Inc. reduced its stake in shares of Voya Financial, Inc. (NYSE:VOYA) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,182 shares of the asset manager’s stock after selling 308 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Voya Financial were worth $1,678,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Voya Financial during the third quarter valued at $29,000. UMB Bank n.a. boosted its stake in 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. Blue Trust Inc. grew its holdings in Voya Financial by 3,640.9% in the third quarter. Blue Trust Inc. now owns 823 shares of the asset manager’s stock worth $65,000 after purchasing an additional 801 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Voya Financial by 6,850.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock valued at $62,000 after acquiring an additional 822 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Voya Financial in the 2nd quarter worth about $61,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Insider Transactions at Voya Financial

In related news, insider Tony D. Oh sold 715 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total transaction of $58,594.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.37% of the company’s stock.

Voya Financial Price Performance

Shares of NYSE:VOYA opened at $81.43 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $7.84 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 0.58 and a beta of 1.03. The firm’s 50 day moving average price is $79.32 and its 200-day moving average price is $74.20. Voya Financial, Inc. has a twelve month low of $63.11 and a twelve month high of $84.30.

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

Voya Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Raymond James lowered shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, September 13th. Citigroup raised their price target on shares of Voya Financial from $86.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company upped their price objective on Voya Financial from $87.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Bank of America lifted their target price on Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Piper Sandler upped their price target on Voya Financial from $88.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

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.