Penn Capital Management Co. Inc. decreased its position in Voya Financial Inc (NYSE:VOYA) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 120,354 shares of the asset manager’s stock after selling 3,776 shares during the period. Penn Capital Management Co. Inc.’s holdings in Voya Financial were worth $6,147,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VOYA. Dimensional Fund Advisors LP increased its position in shares of Voya Financial by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,111,127 shares of the asset manager’s stock valued at $40,996,000 after acquiring an additional 91,731 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of Voya Financial in the second quarter valued at about $293,000. Janus Henderson Group PLC increased its position in shares of Voya Financial by 100.9% in the second quarter. Janus Henderson Group PLC now owns 43,590 shares of the asset manager’s stock valued at $1,608,000 after acquiring an additional 21,890 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Voya Financial by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 7,497 shares of the asset manager’s stock valued at $276,000 after acquiring an additional 321 shares during the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Voya Financial by 309.9% in the second quarter. Sterling Capital Management LLC now owns 26,233 shares of the asset manager’s stock valued at $968,000 after acquiring an additional 19,833 shares during the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.
VOYA has been the topic of a number of recent research reports. Wells Fargo & Co reaffirmed a “buy” rating on shares of Voya Financial in a research report on Friday, December 8th. Deutsche Bank initiated coverage on Voya Financial in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $59.00 target price on the stock. Evercore ISI raised Voya Financial to a “buy” rating and set a $60.00 target price on the stock in a research report on Wednesday, December 27th. ValuEngine upgraded Voya Financial from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $55.00 price target on shares of Voya Financial in a report on Thursday, December 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. Voya Financial has an average rating of “Buy” and a consensus price target of $52.92.
Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, February 13th. The asset manager reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.17. Voya Financial had a positive return on equity of 3.90% and a negative net margin of 31.38%. The business had revenue of $2.19 billion during the quarter. analysts forecast that Voya Financial Inc will post 4.3 EPS for the current fiscal year.
Voya Financial announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 13th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, February 28th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date is Tuesday, February 27th. Voya Financial’s payout ratio is currently -0.24%.
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Voya Financial Company Profile
Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.
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