Wedge Capital Management L L P NC Invests $29.65 Million in Voya Financial Inc (NYSE:VOYA)

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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.

Shares of VOYA stock opened at $61.27 on Thursday. The firm has a market capitalization of $8.34 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 0.51 and a beta of 1.52. The firm has a fifty day simple moving average of $59.66 and a two-hundred day simple moving average of $55.47. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.44. Voya Financial Inc has a 12 month low of $43.50 and a 12 month high of $63.37.

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.

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Institutional Ownership by Quarter for Voya Financial (NYSE:VOYA)

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