Prana Capital Management LP Makes New Investment in Voya Financial, Inc. $VOYA

Prana Capital Management LP acquired a new stake in Voya Financial, Inc. (NYSE:VOYA) in the third quarter, Holdings Channel reports. The fund acquired 32,809 shares of the asset manager’s stock, valued at approximately $2,454,000.

Other hedge funds also recently made changes to their positions in the company. Boston Partners raised its position in shares of Voya Financial by 70.4% in the second quarter. Boston Partners now owns 3,373,520 shares of the asset manager’s stock valued at $239,175,000 after buying an additional 1,394,321 shares in the last quarter. Norges Bank acquired a new stake in Voya Financial during the second quarter worth approximately $97,876,000. Balyasny Asset Management L.P. increased its stake in Voya Financial by 119.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,085,387 shares of the asset manager’s stock worth $148,062,000 after acquiring an additional 1,135,935 shares during the period. Bank of New York Mellon Corp raised its holdings in Voya Financial by 17.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,516,879 shares of the asset manager’s stock valued at $487,463,000 after acquiring an additional 977,870 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Voya Financial by 135.7% in the 3rd quarter. Millennium Management LLC now owns 1,084,747 shares of the asset manager’s stock valued at $81,139,000 after acquiring an additional 624,436 shares in the last quarter. 96.10% of the stock is owned by institutional investors.

Voya Financial Stock Performance

Shares of Voya Financial stock opened at $68.47 on Wednesday. Voya Financial, Inc. has a fifty-two week low of $52.43 and a fifty-two week high of $79.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market capitalization of $6.35 billion, a P/E ratio of 10.89, a P/E/G ratio of 0.46 and a beta of 0.90. The company’s 50 day moving average price is $73.23 and its two-hundred day moving average price is $73.56.

Voya Financial (NYSE:VOYA) last posted its earnings results on Tuesday, February 3rd. The asset manager reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.17). Voya Financial had a return on equity of 13.96% and a net margin of 7.99%.The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the previous year, the firm posted $1.40 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts forecast that Voya Financial, Inc. will post 8.39 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Wednesday, February 25th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, February 25th. Voya Financial’s dividend payout ratio (DPR) is presently 29.89%.

Wall Street Analysts Forecast Growth

VOYA has been the topic of several analyst reports. Morgan Stanley reduced their target price on Voya Financial from $93.00 to $86.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Barclays raised shares of Voya Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $83.00 to $93.00 in a research report on Thursday, January 8th. UBS Group set a $90.00 price objective on shares of Voya Financial in a research note on Wednesday, February 4th. Wall Street Zen lowered shares of Voya Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Royal Bank Of Canada upped their price target on shares of Voya Financial from $85.00 to $87.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Voya Financial currently has an average rating of “Moderate Buy” and an average target price of $85.89.

Voya Financial Company Profile

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.