Meritage Portfolio Management Cuts Stake in Voya Financial, Inc. (NYSE:VOYA)

Meritage Portfolio Management cut its position in Voya Financial, Inc. (NYSE:VOYA) by 0.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 99,607 shares of the asset manager’s stock after selling 429 shares during the period. Meritage Portfolio Management owned approximately 0.10% of Voya Financial worth $7,267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Voya Financial in the 3rd quarter worth about $1,573,000. State of Alaska Department of Revenue lifted its holdings in Voya Financial by 3.2% during the third quarter. State of Alaska Department of Revenue now owns 12,571 shares of the asset manager’s stock valued at $835,000 after purchasing an additional 390 shares in the last quarter. Caprock Group LLC bought a new position in Voya Financial in the 3rd quarter worth $204,000. Oak Thistle LLC bought a new position in shares of Voya Financial in the third quarter worth about $489,000. Finally, YHB Investment Advisors Inc. raised its position in shares of Voya Financial by 100.0% during the third quarter. YHB Investment Advisors Inc. now owns 36,840 shares of the asset manager’s stock valued at $2,545,000 after buying an additional 18,420 shares during the last quarter. Institutional investors own 96.10% of the company’s stock.

Wall Street Analysts Forecast Growth

VOYA has been the topic of several recent research reports. StockNews.com upgraded shares of Voya Financial from a “sell” rating to a “hold” rating in a research report on Saturday, December 30th. Piper Sandler raised their price objective on shares of Voya Financial from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Wells Fargo & Company increased their price target on Voya Financial from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Royal Bank of Canada dropped their price objective on Voya Financial from $85.00 to $83.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Finally, Evercore ISI lifted their target price on Voya Financial from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.50.

Voya Financial Stock Performance

Shares of VOYA traded up $0.34 during trading hours on Friday, reaching $68.28. 379,077 shares of the company traded hands, compared to its average volume of 887,156. The stock has a market capitalization of $6.92 billion, a P/E ratio of 12.51, a P/E/G ratio of 0.47 and a beta of 1.06. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average price of $69.76 and a 200-day moving average price of $70.29. Voya Financial, Inc. has a 12-month low of $63.02 and a 12-month high of $77.28.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Tuesday, February 6th. The asset manager reported $1.97 EPS for the quarter, beating the consensus estimate of $1.95 by $0.02. The business had revenue of $236.00 million during the quarter, compared to analysts’ expectations of $304.66 million. Voya Financial had a net margin of 8.51% and a return on equity of 16.60%. Equities analysts anticipate that Voya Financial, Inc. will post 8.39 EPS for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Tuesday, May 28th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.60 dividend on an annualized basis and a yield of 2.34%. Voya Financial’s payout ratio is 29.47%.

Voya Financial Company Profile

Voya Financial, Inc engages in the provision of workplace benefits and savings products in the United States and internationally. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees.