Envestnet Asset Management Inc. lowered its stake in shares of Voya Financial Inc (NYSE:VOYA) by 11.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 10,068 shares of the asset manager’s stock after selling 1,303 shares during the period. Envestnet Asset Management Inc.’s holdings in Voya Financial were worth $498,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VOYA. TIAA CREF Investment Management LLC increased its stake in shares of Voya Financial by 470.8% in the 4th quarter. TIAA CREF Investment Management LLC now owns 2,000,123 shares of the asset manager’s stock valued at $98,946,000 after purchasing an additional 1,649,729 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Voya Financial by 214.6% in the 4th quarter. Teachers Advisors LLC now owns 781,195 shares of the asset manager’s stock valued at $38,646,000 after purchasing an additional 532,904 shares in the last quarter. Lomas Capital Management LLC purchased a new position in shares of Voya Financial in the 4th quarter valued at about $24,717,000. Prana Capital Management LP purchased a new position in shares of Voya Financial in the 4th quarter valued at about $24,064,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of Voya Financial in the 4th quarter valued at about $20,560,000.
Several brokerages recently weighed in on VOYA. SunTrust Banks lifted their price target on Voya Financial to $54.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. Wells Fargo set a $65.00 price target on Voya Financial and gave the company a “buy” rating in a research note on Wednesday, February 14th. Evercore ISI upgraded Voya Financial to a “buy” rating and set a $60.00 price target for the company in a research note on Wednesday, December 27th. ValuEngine upgraded Voya Financial from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, BTIG Research restated a “buy” rating and issued a $59.00 price target on shares of Voya Financial in a research note on Tuesday, January 2nd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $57.17.
NYSE:VOYA opened at $51.18 on Monday. Voya Financial Inc has a 12 month low of $33.53 and a 12 month high of $54.87. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.45. The company has a market cap of $8,832.39, a price-to-earnings ratio of 17.00, a PEG ratio of 0.77 and a beta of 1.53.
Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, February 13th. The asset manager reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $2.19 billion during the quarter. equities research analysts forecast that Voya Financial Inc will post 4.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, February 28th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.04 annualized dividend and a yield of 0.08%. Voya Financial’s dividend payout ratio (DPR) is currently 1.33%.
Voya Financial declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 13th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
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About Voya Financial
Voya Financial, Inc operates as a retirement, investment, and insurance company in the United States. It operates through Retirement, Investment Management, Individual Life, and Employee Benefits segments. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual account rollover plans and other retail financial products, as well as financial planning and advisory services.
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