Lord Abbett & CO. LLC lifted its stake in shares of Voya Financial Inc (NYSE:VOYA) by 16.1% in the fourth quarter, Holdings Channel reports. The fund owned 78,000 shares of the asset manager’s stock after acquiring an additional 10,800 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Voya Financial were worth $3,131,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of VOYA. Oregon Public Employees Retirement Fund increased its holdings in Voya Financial by 2,374.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,574,492 shares of the asset manager’s stock worth $39,000 after purchasing an additional 1,510,857 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in Voya Financial by 25.8% in the third quarter. TIAA CREF Investment Management LLC now owns 3,715,088 shares of the asset manager’s stock worth $184,528,000 after purchasing an additional 762,178 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Voya Financial by 50.3% in the third quarter. Clearbridge Investments LLC now owns 1,862,112 shares of the asset manager’s stock worth $92,491,000 after purchasing an additional 622,863 shares in the last quarter. Marshall Wace LLP bought a new stake in Voya Financial in the third quarter worth approximately $26,530,000. Finally, Dimensional Fund Advisors LP increased its holdings in Voya Financial by 24.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,090,289 shares of the asset manager’s stock worth $83,902,000 after purchasing an additional 409,431 shares in the last quarter.
A number of equities research analysts have weighed in on the company. Goldman Sachs Group upgraded Voya Financial from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $60.00 to $54.00 in a report on Tuesday, January 8th. ValuEngine upgraded Voya Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Credit Suisse Group set a $59.00 target price on Voya Financial and gave the stock a “buy” rating in a report on Friday, January 25th. Finally, JPMorgan Chase & Co. lowered their target price on Voya Financial from $53.00 to $52.00 and set an “underweight” rating for the company in a report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Voya Financial has a consensus rating of “Buy” and a consensus target price of $57.78.
NYSE VOYA opened at $48.32 on Friday. The company has a market cap of $7.05 billion, a PE ratio of 11.96 and a beta of 1.46. Voya Financial Inc has a 52 week low of $36.66 and a 52 week high of $55.27. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.55.
Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, February 5th. The asset manager reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.10. Voya Financial had a return on equity of 8.04% and a net margin of 10.28%. During the same quarter in the prior year, the business earned $0.87 earnings per share. On average, equities analysts anticipate that Voya Financial Inc will post 5.3 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 27th. Stockholders of record on Thursday, February 28th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.08%. Voya Financial’s dividend payout ratio is 0.99%.
In other news, Director Joseph V. Tripodi acquired 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The stock was purchased at an average price of $49.45 per share, for a total transaction of $74,175.00. Following the completion of the acquisition, the director now directly owns 3,500 shares in the company, valued at approximately $173,075. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chetlur S. Ragavan sold 13,713 shares of Voya Financial stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $48.15, for a total value of $660,280.95. Following the transaction, the insider now directly owns 57,595 shares in the company, valued at approximately $2,773,199.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,911 shares of company stock valued at $1,175,087. Corporate insiders own 0.36% of the company’s stock.
Voya Financial Profile
Voya Financial, Inc operates as a retirement, investment, and insurance company in the United States. It operates through Retirement, Investment Management, Individual Life, and Employee Benefits segments. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual account rollover plans and other retail financial products, as well as financial planning and advisory services.
Further Reading: Coverage Ratio
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