23,531 Shares in Voya Financial, Inc. (NYSE:VOYA) Bought by AIA Group Ltd

AIA Group Ltd purchased a new position in shares of Voya Financial, Inc. (NYSE:VOYA) during the fourth quarter, Holdings Channel.com reports. The fund purchased 23,531 shares of the asset manager’s stock, valued at approximately $1,717,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its holdings in Voya Financial by 11.7% during the fourth quarter. Federated Hermes Inc. now owns 25,527 shares of the asset manager’s stock worth $1,862,000 after buying an additional 2,674 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Voya Financial by 7.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,998 shares of the asset manager’s stock worth $2,335,000 after buying an additional 2,316 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new stake in Voya Financial during the fourth quarter worth $559,000. Strs Ohio boosted its holdings in Voya Financial by 8.5% during the fourth quarter. Strs Ohio now owns 25,878 shares of the asset manager’s stock worth $1,888,000 after buying an additional 2,035 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in Voya Financial during the fourth quarter worth $213,000. 96.10% of the stock is owned by hedge funds and other institutional investors.

Voya Financial Price Performance

Shares of NYSE VOYA opened at $68.75 on Friday. The firm has a 50-day simple moving average of $69.71 and a 200-day simple moving average of $70.15. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $6.97 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 0.45 and a beta of 1.06. Voya Financial, Inc. has a 52 week low of $63.02 and a 52 week high of $77.78.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, February 6th. The asset manager reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.02. The firm had revenue of $236.00 million for the quarter, compared to the consensus estimate of $304.66 million. Voya Financial had a net margin of 8.51% and a return on equity of 16.60%. On average, equities analysts predict that Voya Financial, Inc. will post 8.42 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Monday, February 26th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Friday, February 23rd. Voya Financial’s dividend payout ratio is currently 29.47%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VOYA. Royal Bank of Canada lowered their price target on shares of Voya Financial from $85.00 to $83.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Wells Fargo & Company upped their price objective on shares of Voya Financial from $85.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. The Goldman Sachs Group restated a “neutral” rating and set a $82.00 price objective on shares of Voya Financial in a research report on Monday, January 8th. Morgan Stanley reduced their price objective on shares of Voya Financial from $79.00 to $78.00 and set an “overweight” rating for the company in a research report on Friday, March 1st. Finally, Piper Sandler upped their price objective on shares of Voya Financial from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Voya Financial has a consensus rating of “Moderate Buy” and a consensus target price of $82.50.

Voya Financial 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.