Bank of America Corp DE increased its position in Voya Financial, Inc. (NYSE:VOYA) by 87.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,042,884 shares of the asset manager’s stock after buying an additional 955,465 shares during the period. Bank of America Corp DE owned approximately 1.10% of Voya Financial worth $77,548,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Mckinley Capital Management LLC Delaware bought a new position in shares of Voya Financial during the first quarter worth $119,000. Cantab Capital Partners LLP bought a new position in shares of Voya Financial during the fourth quarter worth $125,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Voya Financial during the fourth quarter worth $125,000. Advisory Services Network LLC bought a new position in shares of Voya Financial during the first quarter worth $152,000. Finally, Coconut Grove Bank raised its position in shares of Voya Financial by 86.0% in the first quarter. Coconut Grove Bank now owns 4,240 shares of the asset manager’s stock worth $161,000 after buying an additional 1,960 shares in the last quarter. Hedge funds and other institutional investors own 98.77% of the company’s stock.
Voya Financial, Inc. (NYSE:VOYA) traded up 1.43% during midday trading on Monday, hitting $37.48. 1,160,993 shares of the stock traded hands. Voya Financial, Inc. has a 52-week low of $22.75 and a 52-week high of $42.96. The stock has a 50-day moving average of $36.07 and a 200 day moving average of $38.71. The firm’s market cap is $6.97 billion.
Voya Financial (NYSE:VOYA) last released its earnings results on Wednesday, May 3rd. The asset manager reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.07. Voya Financial had a negative net margin of 7.64% and a positive return on equity of 3.78%. The firm had revenue of $303.20 million for the quarter, compared to analyst estimates of $293.84 million. During the same period in the prior year, the firm earned $0.55 earnings per share. Equities analysts forecast that Voya Financial, Inc. will post $3.55 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Investors of record on Wednesday, May 31st will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, May 26th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.11%. Voya Financial’s payout ratio is -1.02%.
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A number of brokerages recently weighed in on VOYA. Morgan Stanley upped their target price on shares of Voya Financial from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 15th. BidaskClub upgraded shares of Voya Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $51.00 price objective on shares of Voya Financial in a research report on Thursday, March 16th. Barclays PLC reiterated a “hold” rating and set a $41.00 price objective on shares of Voya Financial in a research report on Sunday, February 19th. Finally, Citigroup Inc. reiterated a “focus list” rating on shares of Voya Financial in a research report on Tuesday, February 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $42.36.
In other news, Chairman Rodney O. Martin, Jr. bought 8,475 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were purchased at an average cost of $35.29 per share, for a total transaction of $299,082.75. Following the completion of the purchase, the chairman now owns 114,221 shares of the company’s stock, valued at $4,030,859.09. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Alain M. Karaoglan sold 28,899 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $37.50, for a total transaction of $1,083,712.50. Following the sale, the insider now owns 6,637 shares in the company, valued at $248,887.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 14,299 shares of company stock worth $505,087 and have sold 41,497 shares worth $1,553,492. 0.24% of the stock is currently owned by corporate insiders.
About Voya Financial
Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.
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