Advisors Asset Management Inc. Boosts Stock Holdings in Voya Financial, Inc. (NYSE:VOYA)

Advisors Asset Management Inc. boosted its stake in Voya Financial, Inc. (NYSE:VOYA) by 52.2% during the 3rd quarter, Holdings Channel reports. The firm owned 11,580 shares of the asset manager’s stock after buying an additional 3,970 shares during the quarter. Advisors Asset Management Inc.’s holdings in Voya Financial were worth $917,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Partners increased its position in Voya Financial by 83.8% in the first quarter. Boston Partners now owns 2,525,604 shares of the asset manager’s stock worth $186,310,000 after purchasing an additional 1,151,822 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Voya Financial by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock worth $146,234,000 after buying an additional 248,795 shares during the last quarter. Leeward Investments LLC MA bought a new stake in shares of Voya Financial in the 3rd quarter worth about $19,269,000. Renaissance Technologies LLC bought a new position in shares of Voya Financial in the 2nd quarter valued at about $13,013,000. Finally, Algebris UK Ltd bought a new position in shares of Voya Financial in the 1st quarter valued at about $10,362,000. Institutional investors own 96.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on VOYA. Evercore ISI upped their price objective on Voya Financial from $79.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Raymond James downgraded Voya Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, September 13th. Piper Sandler lifted their price objective on shares of Voya Financial from $88.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Bank of America increased their target price 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. Finally, Royal Bank of Canada lifted their price target on shares of Voya Financial from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Insider Activity

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 transaction of $58,594.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.37% of the company’s stock.

Voya Financial Stock Down 0.6 %

Shares of NYSE:VOYA opened at $82.44 on Wednesday. The business’s 50 day moving average is $80.19 and its 200 day moving average is $74.57. The stock has a market cap of $7.93 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 0.57 and a beta of 1.03. Voya Financial, Inc. has a 52-week low of $63.11 and a 52-week high of $84.30. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.54.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.07. The business 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 was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.07 EPS. Sell-side analysts predict that Voya Financial, Inc. will post 8.4 EPS for the current year.

Voya Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, November 26th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $1.80 annualized dividend and a dividend yield of 2.18%. Voya Financial’s payout ratio is presently 28.66%.

Voya Financial Company 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.