Freestone Grove Partners LP Purchases New Stake in Voya Financial, Inc. $VOYA

Freestone Grove Partners LP acquired a new position in shares of Voya Financial, Inc. (NYSE:VOYA) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 187,389 shares of the asset manager’s stock, valued at approximately $16,964,000.

Other large investors have also recently bought and sold shares of the company. Allworth Financial LP boosted its position in shares of Voya Financial by 75.5% during the 3rd quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock worth $26,000 after purchasing an additional 151 shares in the last quarter. Danske Bank A S acquired a new position in shares of Voya Financial during the 2nd quarter worth $27,000. Atlas Capital Advisors Inc. purchased a new position in shares of Voya Financial in the 4th quarter valued at about $28,000. Systematic Financial Management LP purchased a new position in shares of Voya Financial in the 4th quarter valued at about $37,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Voya Financial by 625.0% in the second quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 475 shares during the period. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Insider Buying and Selling

In related news, insider Trevor Ogle sold 3,994 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $90.00, for a total transaction of $359,460.00. Following the transaction, the insider directly owned 2,887 shares in the company, valued at approximately $259,830. This represents a 58.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.57% of the company’s stock.

Voya Financial Stock Performance

NYSE:VOYA opened at $101.20 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market cap of $9.17 billion, a PE ratio of 17.07, a P/E/G ratio of 0.98 and a beta of 0.89. The firm has a 50 day simple moving average of $97.52 and a 200-day simple moving average of $83.53. Voya Financial, Inc. has a 1-year low of $64.50 and a 1-year high of $103.85.

Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, August 4th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.47). The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.90 billion. Voya Financial had a return on equity of 12.31% and a net margin of 7.45%.The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.66 EPS. On average, equities analysts expect that Voya Financial, Inc. will post 9.25 EPS for the current year.

Voya Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Wednesday, August 26th will be given a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.9%. Voya Financial’s payout ratio is currently 31.70%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Voya Financial from $109.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Barclays increased their target price on shares of Voya Financial from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Atlantic Securities set a $79.00 price target on Voya Financial in a research note on Wednesday, July 15th. Weiss Ratings lowered Voya Financial from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upped their price target on Voya Financial from $105.00 to $109.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.85.

Voya Financial 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.