Hsbc Holdings PLC Raises Holdings in Voya Financial, Inc. $VOYA

Hsbc Holdings PLC increased its position in Voya Financial, Inc. (NYSE:VOYA) by 816.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 49,789 shares of the asset manager’s stock after purchasing an additional 44,359 shares during the period. Hsbc Holdings PLC’s holdings in Voya Financial were worth $3,535,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in Voya Financial by 225.6% during the second quarter. IFP Advisors Inc now owns 433 shares of the asset manager’s stock worth $31,000 after purchasing an additional 300 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Voya Financial by 149.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 481 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 288 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Voya Financial during the 1st quarter valued at approximately $47,000. Geneos Wealth Management Inc. lifted its stake in shares of Voya Financial by 44.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock valued at $49,000 after buying an additional 223 shares in the last quarter. Finally, Quarry LP boosted its holdings in Voya Financial by 205.7% in the 1st quarter. Quarry LP now owns 1,651 shares of the asset manager’s stock worth $112,000 after buying an additional 1,111 shares during the period. 96.10% of the stock is currently owned by institutional investors.

Voya Financial Price Performance

Voya Financial stock opened at $70.84 on Friday. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 0.50 and a beta of 0.91. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.42. The business has a 50-day simple moving average of $72.40 and a 200 day simple moving average of $71.93. Voya Financial, Inc. has a 52 week low of $52.43 and a 52 week high of $82.16.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, November 4th. The asset manager reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.23. Voya Financial had a return on equity of 13.89% and a net margin of 7.55%.The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the company posted $2.12 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, research analysts forecast that Voya Financial, Inc. will post 8.39 earnings per share for the current fiscal year.

Voya Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Wednesday, November 26th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.7%. This is a boost from Voya Financial’s previous quarterly dividend of $0.45. Voya Financial’s dividend payout ratio is presently 32.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Voya Financial from $83.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Evercore ISI lifted their price target on Voya Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, August 13th. Barclays increased their price objective on Voya Financial from $81.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Voya Financial in a research note on Monday. Finally, Morgan Stanley upped their price target on Voya Financial from $90.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $84.30.

Voya Financial 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.