Short Interest in Voya Financial Inc (NYSE:VOYA) Drops By 6.6%

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Voya Financial Inc (NYSE:VOYA) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 13,204,000 shares, a drop of 6.6% from the July 31st total of 14,132,900 shares. Based on an average trading volume of 1,290,000 shares, the short-interest ratio is currently 10.2 days. Currently, 9.5% of the shares of the company are sold short.

Several brokerages recently commented on VOYA. Morgan Stanley dropped their target price on Voya Financial from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Tuesday, August 20th. Goldman Sachs Group raised Voya Financial from a “buy” rating to a “conviction-buy” rating in a report on Thursday. ValuEngine cut Voya Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Royal Bank of Canada set a $60.00 price target on shares of Voya Financial and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Citigroup decreased their price target on shares of Voya Financial from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Voya Financial has a consensus rating of “Buy” and an average target price of $59.50.

In other Voya Financial news, Director Byron H. Pollitt, Jr. bought 1,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $49.30 per share, with a total value of $49,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.69% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC lifted its position in Voya Financial by 2,380.0% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 496 shares of the asset manager’s stock worth $28,000 after acquiring an additional 476 shares during the last quarter. Hexavest Inc. bought a new stake in Voya Financial during the second quarter worth about $30,000. Doyle Wealth Management bought a new stake in Voya Financial during the second quarter worth about $42,000. US Bancorp DE grew its stake in Voya Financial by 18.5% during the second quarter. US Bancorp DE now owns 1,438 shares of the asset manager’s stock worth $79,000 after buying an additional 224 shares during the last quarter. Finally, ETF Managers Group LLC bought a new stake in Voya Financial during the first quarter worth about $142,000.

Shares of Voya Financial stock traded up $0.91 on Friday, hitting $54.76. 1,335,088 shares of the company traded hands, compared to its average volume of 1,382,499. The company has a 50-day moving average price of $51.42 and a 200 day moving average price of $52.73. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.47. Voya Financial has a 12-month low of $36.66 and a 12-month high of $57.57. The company has a market cap of $7.45 billion, a PE ratio of 13.55, a PEG ratio of 0.51 and a beta of 1.49.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, August 6th. The asset manager reported $1.52 EPS for the quarter, beating the consensus estimate of $1.47 by $0.05. Voya Financial had a net margin of 6.16% and a return on equity of 8.47%. The business had revenue of $278.00 million for the quarter, compared to analysts’ expectations of $314.19 million. During the same period in the previous year, the company posted $1.13 EPS. Equities research analysts anticipate that Voya Financial will post 5.49 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, August 29th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Wednesday, August 28th. This is a positive change from Voya Financial’s previous quarterly dividend of $0.01. Voya Financial’s payout ratio is presently 14.85%.

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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