Voya Financial, Inc. $VOYA Shares Sold by Basswood Capital Management L.L.C.

by · The Markets Daily

Basswood Capital Management L.L.C. cut its stake in shares of Voya Financial, Inc. (NYSE:VOYAFree Report) by 3.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 195,281 shares of the asset manager’s stock after selling 6,821 shares during the period. Basswood Capital Management L.L.C.’s holdings in Voya Financial were worth $14,546,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in Voya Financial by 75.5% during the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock worth $26,000 after acquiring an additional 151 shares during the period. Atlas Capital Advisors Inc. acquired a new position in Voya Financial during the fourth quarter worth $28,000. V Square Quantitative Management LLC acquired a new position in Voya Financial during the fourth quarter worth $33,000. Systematic Financial Management LP acquired a new position in Voya Financial during the fourth quarter worth $37,000. Finally, Rothschild Investment LLC raised its position in Voya Financial by 5,180.0% during the third quarter. Rothschild Investment LLC now owns 528 shares of the asset manager’s stock worth $39,000 after acquiring an additional 518 shares during the period. 96.10% of the stock is currently owned by institutional investors and hedge funds.

Voya Financial Price Performance

Shares of NYSE VOYA opened at $91.39 on Friday. The firm has a 50-day simple moving average of $79.36 and a 200-day simple moving average of $74.97. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 0.83 and a beta of 0.92. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.48. Voya Financial, Inc. has a 52 week low of $64.50 and a 52 week high of $92.00.

Voya Financial (NYSE:VOYAGet Free Report) last issued its earnings results on Tuesday, May 5th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.24. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Voya Financial had a net margin of 8.24% and a return on equity of 13.84%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.00 earnings per share. On average, equities analysts predict that Voya Financial, Inc. will post 9.6 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, May 26th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, May 26th. Voya Financial’s dividend payout ratio is 28.40%.

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 value of $359,460.00. Following the completion of the sale, the insider owned 2,887 shares of the company’s stock, valued at approximately $259,830. This represents a 58.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Voya Financial from $87.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Raymond James Financial upgraded shares of Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 price objective for the company in a research report on Monday, June 8th. Barclays increased their target price on shares of Voya Financial from $89.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. JPMorgan Chase & Co. reduced their target price on shares of Voya Financial from $89.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, May 26th. Finally, TD Cowen assumed coverage on shares of Voya Financial in a research report on Monday, April 20th. They issued a “buy” rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.73.

View Our Latest Stock Analysis on VOYA

Voya Financial Profile

(Free Report)

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.

Further Reading

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