Wedge Capital Management L L P NC acquired a new position in shares of Voya Financial Inc (NYSE:VOYA) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 486,167 shares of the asset manager’s stock, valued at approximately $29,646,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Tocqueville Asset Management L.P. boosted its holdings in shares of Voya Financial by 30.1% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 44,280 shares of the asset manager’s stock worth $2,411,000 after buying an additional 10,257 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its stake in Voya Financial by 7.8% during the third quarter. Worldquant Millennium Advisors LLC now owns 205,687 shares of the asset manager’s stock worth $11,197,000 after acquiring an additional 14,805 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Voya Financial in the third quarter worth $592,000. Maverick Capital Ltd. acquired a new stake in Voya Financial in the third quarter worth $5,468,000. Finally, Mackay Shields LLC grew its holdings in Voya Financial by 29.4% in the third quarter. Mackay Shields LLC now owns 166,524 shares of the asset manager’s stock worth $9,065,000 after purchasing an additional 37,801 shares during the period.
VOYA has been the topic of a number of research analyst reports. Credit Suisse Group reissued an “outperform” rating and set a $77.00 price objective (up previously from $72.00) on shares of Voya Financial in a research report on Tuesday, January 7th. UBS Group raised their target price on Voya Financial from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. ValuEngine raised Voya Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 3rd. SunTrust Banks increased their price target on Voya Financial to $58.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada increased their price target on Voya Financial from $65.00 to $68.00 and gave the stock a “sell” rating in a report on Friday, December 20th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Voya Financial presently has an average rating of “Hold” and a consensus target price of $65.17.
Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, November 5th. The asset manager reported $1.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.04). The business had revenue of $187.00 million for the quarter, compared to analyst estimates of $301.05 million. Voya Financial had a return on equity of 7.82% and a net margin of 5.77%. During the same quarter in the previous year, the company posted $1.34 EPS. On average, equities analysts predict that Voya Financial Inc will post 5.32 earnings per share for the current fiscal year.
The firm also recently announced a dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, November 27th. Voya Financial’s payout ratio is presently 14.85%.
In related news, CEO Rodney O. Martin, Jr. sold 129,684 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $57.86, for a total value of $7,503,516.24. Following the sale, the chief executive officer now owns 159,373 shares in the company, valued at approximately $9,221,321.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.69% of the company’s stock.
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.
Further Reading: Guidelines for Successful Channel Trading
Want to see what other hedge funds are holding VOYA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Voya Financial Inc (NYSE:VOYA).
Receive News & Ratings for Voya Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Voya Financial and related companies with MarketBeat.com's FREE daily email newsletter.