Daiwa Securities Group Inc. boosted its position in shares of Voya Financial, Inc. (NYSE:VOYA) by 116.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,100 shares of the asset manager’s stock after acquiring an additional 6,500 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Voya Financial were worth $483,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Stevens Capital Management LP boosted its holdings in Voya Financial by 221.1% during the 3rd quarter. Stevens Capital Management LP now owns 123,603 shares of the asset manager’s stock valued at $4,931,000 after acquiring an additional 85,110 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Voya Financial by 1.8% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 242,346 shares of the asset manager’s stock valued at $9,667,000 after acquiring an additional 4,220 shares during the period. Tocqueville Asset Management L.P. purchased a new position in Voya Financial during the 3rd quarter valued at about $5,092,000. Canada Pension Plan Investment Board boosted its holdings in Voya Financial by 0.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 448,346 shares of the asset manager’s stock valued at $17,885,000 after acquiring an additional 2,600 shares during the period. Finally, Honeywell International Inc. boosted its holdings in Voya Financial by 50.0% during the 3rd quarter. Honeywell International Inc. now owns 826,000 shares of the asset manager’s stock valued at $32,949,000 after acquiring an additional 275,400 shares during the period. Institutional investors own 96.62% of the company’s stock.
VOYA has been the subject of a number of research analyst reports. Wells Fargo & Company set a $50.00 target price on Voya Financial and gave the company a “buy” rating in a report on Tuesday, October 31st. Royal Bank Of Canada restated a “buy” rating and set a $46.00 target price on shares of Voya Financial in a report on Wednesday, September 6th. Goldman Sachs Group, Inc. (The) assumed coverage on Voya Financial in a research note on Wednesday, October 18th. They issued a “buy” rating and a $46.00 price objective for the company. BidaskClub cut Voya Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, Sandler O’Neill upgraded Voya Financial from a “hold” rating to a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.70.
Shares of Voya Financial, Inc. (NYSE:VOYA) opened at $41.04 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.14 and a current ratio of 0.14. Voya Financial, Inc. has a 12-month low of $33.53 and a 12-month high of $42.96. The firm has a market capitalization of $7,317.50, a PE ratio of 14.04, a PEG ratio of 0.73 and a beta of 1.62.
Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, October 31st. The asset manager reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.39). Voya Financial had a positive return on equity of 3.92% and a negative net margin of 3.64%. The business had revenue of $226.50 million for the quarter, compared to analyst estimates of $322.92 million. During the same period last year, the business posted ($1.24) EPS. research analysts forecast that Voya Financial, Inc. will post 3.05 earnings per share for the current fiscal year.
Voya Financial announced that its Board of Directors has authorized a stock repurchase program on Tuesday, October 31st that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Wednesday, November 29th. Voya Financial’s dividend payout ratio (DPR) is presently -2.23%.
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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