Prana Capital Management LP bought a new stake in Voya Financial Inc (NYSE:VOYA) during the 4th quarter, Holdings Channel reports. The firm bought 486,438 shares of the asset manager’s stock, valued at approximately $24,064,000. Voya Financial makes up 8.2% of Prana Capital Management LP’s investment portfolio, making the stock its largest position.
A number of other hedge funds have also recently added to or reduced their stakes in VOYA. Steward Partners Investment Advisory LLC acquired a new position in Voya Financial in the fourth quarter valued at $133,000. Advisor Group Inc. increased its stake in Voya Financial by 171.6% in the fourth quarter. Advisor Group Inc. now owns 4,576 shares of the asset manager’s stock valued at $226,000 after purchasing an additional 2,891 shares in the last quarter. Eagle Global Advisors LLC bought a new stake in Voya Financial in the fourth quarter valued at $247,000. IFM Investors Pty Ltd bought a new stake in Voya Financial in the third quarter valued at $254,000. Finally, Focused Wealth Management Inc bought a new stake in Voya Financial in the fourth quarter valued at $257,000.
Shares of Voya Financial Inc (NYSE VOYA) opened at $52.94 on Monday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.45. The company has a market cap of $9,105.88, a PE ratio of 18.51, a PEG ratio of 0.67 and a beta of 1.56. Voya Financial Inc has a 52-week low of $33.53 and a 52-week high of $54.87.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend is Tuesday, February 27th. Voya Financial’s payout ratio is presently -0.24%.
Voya Financial announced that its board has approved a stock repurchase program on Tuesday, February 13th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Several research firms have weighed in on VOYA. SunTrust Banks lifted their price target on shares of Voya Financial to $54.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. BTIG Research reaffirmed a “buy” rating and issued a $59.00 price target on shares of Voya Financial in a research note on Tuesday, January 2nd. Sandler O’Neill raised shares of Voya Financial from a “hold” rating to a “buy” rating in a research note on Monday, November 13th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Voya Financial in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $55.00 price target on shares of Voya Financial in a research note on Friday, December 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $54.75.
In other news, insider Kevin D. Silva sold 895 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $50.77, for a total transaction of $45,439.15. Following the completion of the sale, the insider now directly owns 9,299 shares of the company’s stock, valued at $472,110.23. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kevin D. Silva sold 5,480 shares of the business’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $51.70, for a total transaction of $283,316.00. Following the sale, the insider now directly owns 14,577 shares of the company’s stock, valued at $753,630.90. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
Voya Financial Company Profile
Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.
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