Quantitative Investment Management LLC purchased a new stake in shares of Voya Financial Inc (NYSE:VOYA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,600 shares of the asset manager’s stock, valued at approximately $326,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in VOYA. The Manufacturers Life Insurance Company boosted its stake in shares of Voya Financial by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,497 shares of the asset manager’s stock worth $276,000 after acquiring an additional 321 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Voya Financial during the 3rd quarter worth $2,160,000. Sei Investments Co. boosted its stake in shares of Voya Financial by 9.0% during the 3rd quarter. Sei Investments Co. now owns 127,803 shares of the asset manager’s stock worth $5,100,000 after acquiring an additional 10,576 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Voya Financial by 202.6% during the 3rd quarter. Toronto Dominion Bank now owns 8,254 shares of the asset manager’s stock worth $329,000 after acquiring an additional 5,526 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Voya Financial by 15.8% during the 3rd quarter. SG Americas Securities LLC now owns 23,891 shares of the asset manager’s stock worth $953,000 after acquiring an additional 3,264 shares in the last quarter.
In related news, insider Kevin D. Silva sold 895 shares of Voya Financial stock in a transaction on Friday, February 23rd. The stock was 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 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 through the SEC website. Also, insider Kevin D. Silva sold 5,480 shares of Voya Financial stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $51.70, for a total value of $283,316.00. Following the sale, the insider now directly owns 14,577 shares of the company’s stock, valued at approximately $753,630.90. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.
Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, February 13th. The asset manager reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.17. The firm had revenue of $2.19 billion during the quarter. Voya Financial had a positive return on equity of 3.90% and a negative net margin of 31.38%. research analysts expect that Voya Financial Inc will post 4.28 EPS for the current year.
Voya Financial declared that its board has authorized a stock buyback plan on Tuesday, February 13th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, February 28th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.08%. Voya Financial’s payout ratio is -0.24%.
Several analysts have recently commented on VOYA shares. Wells Fargo reaffirmed a “buy” rating on shares of Voya Financial in a research report on Friday, December 8th. Deutsche Bank started coverage on Voya Financial in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $59.00 target price for the company. Evercore ISI raised Voya Financial to a “buy” rating and set a $60.00 target price for the company in a research report on Wednesday, December 27th. UBS started coverage on Voya Financial in a research report on Friday, March 2nd. They issued a “buy” rating and a $65.00 target price for the company. Finally, ValuEngine raised Voya Financial from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $55.00.
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About Voya Financial
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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