Point72 Asset Management L.P. reduced its position in Voya Financial Inc (NYSE:VOYA) by 4.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 686,424 shares of the asset manager’s stock after selling 29,876 shares during the quarter. Point72 Asset Management L.P. owned about 0.49% of Voya Financial worth $37,959,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Neuburgh Advisers LLC grew its stake in shares of Voya Financial by 102.3% during the 1st quarter. Neuburgh Advisers LLC now owns 158,672 shares of the asset manager’s stock valued at $7,927,000 after acquiring an additional 80,224 shares during the period. TD Asset Management Inc. purchased a new stake in shares of Voya Financial in the second quarter valued at approximately $255,000. Synovus Financial Corp increased its position in shares of Voya Financial by 15.3% in the first quarter. Synovus Financial Corp now owns 26,245 shares of the asset manager’s stock valued at $1,307,000 after buying an additional 3,477 shares in the last quarter. State of Wisconsin Investment Board increased its position in shares of Voya Financial by 88.2% in the first quarter. State of Wisconsin Investment Board now owns 291,290 shares of the asset manager’s stock valued at $14,553,000 after buying an additional 136,525 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Voya Financial by 5.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 255,185 shares of the asset manager’s stock valued at $14,112,000 after buying an additional 12,620 shares in the last quarter.
Shares of Voya Financial stock traded up $0.07 during trading hours on Friday, hitting $54.80. The company’s stock had a trading volume of 835,814 shares, compared to its average volume of 1,175,133. Voya Financial Inc has a twelve month low of $36.66 and a twelve month high of $57.57. The firm has a fifty day moving average of $51.05 and a 200-day moving average of $52.91. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 0.53 and a beta of 1.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.17 and a current ratio of 0.17.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, August 29th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Wednesday, August 28th. This is an increase from Voya Financial’s previous quarterly dividend of $0.01. Voya Financial’s payout ratio is currently 14.85%.
In other news, Director Byron H. Pollitt, Jr. acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $49.30 per share, for a total transaction of $49,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.69% of the stock is currently owned by insiders.
A number of analysts have recently commented on VOYA shares. Morgan Stanley set a $63.00 price objective on Voya Financial and gave the company a “buy” rating in a research report on Friday, September 13th. ValuEngine lowered Voya Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Royal Bank of Canada set a $60.00 price target on Voya Financial and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Citigroup lowered their price objective on Voya Financial from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $59.50.
About Voya Financial
Voya Financial, Inc operates as a retirement, investment, and employee benefits company in the United States. It operates through four segments: Retirement, Investment Management, Employee Benefits, and Individual Life. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and financial services, as well as financial planning and advisory services.
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