Redwood Investment Management LLC Buys New Stake in Voya Financial, Inc. $VOYA

Redwood Investment Management LLC purchased a new position in Voya Financial, Inc. (NYSE:VOYA) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 12,905 shares of the asset manager’s stock, valued at approximately $1,168,000.

Several other institutional investors and hedge funds have also bought and sold shares of VOYA. Allworth Financial LP increased its position in shares of Voya Financial by 75.5% during the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock worth $26,000 after purchasing an additional 151 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Voya Financial in the 2nd quarter worth $27,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Voya Financial in the 4th quarter worth $28,000. Systematic Financial Management LP purchased a new position in Voya Financial during the 4th quarter worth $37,000. Finally, Root Financial Partners LLC grew its stake in Voya Financial by 59.6% during the 1st quarter. Root Financial Partners LLC now owns 573 shares of the asset manager’s stock worth $39,000 after buying an additional 214 shares during the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VOYA. Atlantic Securities set a $79.00 target price on Voya Financial in a research report on Wednesday, July 15th. Barclays boosted their price target on Voya Financial from $98.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Jefferies Financial Group upped their price objective on shares of Voya Financial from $80.00 to $85.00 and gave the company a “hold” rating in a report on Friday, July 10th. Raymond James Financial raised 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 report on Monday, June 8th. Finally, Morgan Stanley lifted their target price on shares of Voya Financial from $92.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $103.85.

Voya Financial Price Performance

Shares of NYSE VOYA opened at $101.62 on Thursday. Voya Financial, Inc. has a 52 week low of $64.50 and a 52 week high of $103.85. The business’s 50 day moving average price is $97.30 and its 200 day moving average price is $83.35. 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 $9.21 billion, a P/E ratio of 17.14, a P/E/G ratio of 0.97 and a beta of 0.89.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.47). The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.90 billion. Voya Financial had a net margin of 7.45% and a return on equity of 12.31%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.66 earnings per share. On average, sell-side analysts expect that Voya Financial, Inc. will post 9.25 earnings per share for the current year.

Voya Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Wednesday, August 26th will be given a dividend of $0.47 per share. The ex-dividend date is Wednesday, August 26th. This represents a $1.88 dividend on an annualized basis and a yield of 1.9%. Voya Financial’s payout ratio is currently 31.70%.

Insider Transactions at Voya Financial

In other Voya Financial news, insider Trevor Ogle sold 3,994 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $90.00, for a total value of $359,460.00. Following the sale, the insider directly owned 2,887 shares of the company’s stock, valued at approximately $259,830. This represents a 58.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by corporate insiders.

Voya Financial Company 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.