Empowered Funds LLC Makes New $5.16 Million Investment in Voya Financial, Inc. $VOYA

Empowered Funds LLC purchased a new stake in Voya Financial, Inc. (NYSE:VOYA) during the 2nd quarter, HoldingsChannel reports. The firm purchased 56,980 shares of the asset manager’s stock, valued at approximately $5,158,000.

A number of other institutional investors have also made changes to their positions in VOYA. Allworth Financial LP boosted its stake in Voya Financial by 75.5% during the 3rd quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 151 shares during the period. Danske Bank A S bought a new position in Voya Financial in the 2nd quarter worth approximately $27,000. Atlas Capital Advisors Inc. bought a new position in Voya Financial in the 4th quarter worth approximately $28,000. Systematic Financial Management LP acquired a new position in shares of Voya Financial during the fourth quarter worth approximately $37,000. Finally, Root Financial Partners LLC lifted its holdings in shares of Voya Financial by 59.6% during the first 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 currently owned by institutional investors.

Insider Activity

In related news, insider Trevor Ogle sold 3,994 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were 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 in the company, valued at $259,830. This represents a 58.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Stock Performance

NYSE:VOYA opened at $101.37 on Tuesday. Voya Financial, Inc. has a 1 year low of $64.50 and a 1 year high of $103.85. The firm has a 50 day moving average of $97.94 and a 200-day moving average of $83.88. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $9.18 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 0.99 and a beta of 0.89.

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

Voya Financial Announces Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Voya Financial from $105.00 to $109.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. UBS Group upped their price objective on shares of Voya Financial from $95.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Jefferies Financial Group increased their target price on shares of Voya Financial from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, July 10th. TD Cowen lifted their target price on Voya Financial from $112.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Raymond James Financial upgraded Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 price target on the stock in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.85.

About Voya Financial

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.