Bank of America Corp DE Sells 66,042 Shares of Voya Financial, Inc. $VOYA

Bank of America Corp DE reduced its stake in shares of Voya Financial, Inc. (NYSE:VOYA) by 23.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 212,488 shares of the asset manager’s stock after selling 66,042 shares during the quarter. Bank of America Corp DE’s holdings in Voya Financial were worth $14,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of Voya Financial by 75.5% in the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock valued at $26,000 after buying an additional 151 shares during the period. Atlas Capital Advisors Inc. bought a new position in Voya Financial during the fourth quarter valued at about $28,000. Systematic Financial Management LP bought a new position in Voya Financial during the fourth quarter valued at about $37,000. Root Financial Partners LLC raised its holdings in Voya Financial by 59.6% in the 1st quarter. Root Financial Partners LLC now owns 573 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 214 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Voya Financial by 625.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 475 shares in the last quarter. 96.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. TD Cowen boosted their price objective on Voya Financial from $112.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Atlantic Securities set a $79.00 target price on Voya Financial in a research report on Wednesday, July 15th. Royal Bank Of Canada lifted their price target on shares of Voya Financial from $107.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Weiss Ratings lowered shares of Voya Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Raymond James Financial upgraded shares of Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 price objective for the company in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.85.

Insider Buying and Selling

In other news, insider Trevor Ogle sold 3,994 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $90.00, for a total transaction of $359,460.00. Following the transaction, the insider owned 2,887 shares of the company’s stock, valued at $259,830. This represents a 58.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.57% of the company’s stock.

Voya Financial Stock Up 0.3%

Shares of NYSE:VOYA opened at $97.74 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.51. The firm has a market cap of $8.86 billion, a P/E ratio of 16.48, a P/E/G ratio of 0.94 and a beta of 0.89. Voya Financial, Inc. has a 12 month low of $64.50 and a 12 month high of $103.85. The company’s 50-day moving average price is $96.73 and its two-hundred day moving average price is $82.74.

Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, August 4th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.47). The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.90 billion. Voya Financial had a return on equity of 12.31% and a net margin of 7.45%.Voya Financial’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.66 earnings per share. As a group, research analysts forecast that Voya Financial, Inc. will post 9.27 EPS for the current fiscal year.

Voya Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Wednesday, August 26th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, August 26th. Voya Financial’s dividend payout ratio (DPR) is presently 31.70%.

Voya Financial Profile

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.