Davis Capital Management Raises Position in Voya Financial, Inc. (NYSE:VOYA)

Davis Capital Management lifted its holdings in shares of Voya Financial, Inc. (NYSE:VOYA) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,879 shares of the asset manager’s stock after purchasing an additional 676 shares during the quarter. Voya Financial comprises about 1.2% of Davis Capital Management’s investment portfolio, making the stock its 27th biggest position. Davis Capital Management’s holdings in Voya Financial were worth $1,309,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in VOYA. Chilton Capital Management LLC purchased a new stake in shares of Voya Financial during the 4th quarter valued at $26,000. Clearstead Advisors LLC acquired a new stake in Voya Financial during the third quarter worth about $33,000. GAMMA Investing LLC acquired a new position in shares of Voya Financial in the 4th quarter valued at about $49,000. KBC Group NV lifted its stake in shares of Voya Financial by 50.6% in the 4th quarter. KBC Group NV now owns 1,871 shares of the asset manager’s stock valued at $137,000 after purchasing an additional 629 shares in the last quarter. Finally, Mutual Advisors LLC acquired a new stake in Voya Financial during the 3rd quarter worth approximately $201,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Insider Activity at Voya Financial

In other news, Director Yvette S. Butler sold 2,165 shares of Voya Financial stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $73.78, for a total value of $159,733.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on VOYA. Morgan Stanley decreased their target price on Voya Financial from $79.00 to $78.00 and set an “overweight” rating for the company in a research report on Friday, March 1st. Evercore ISI increased their price objective on shares of Voya Financial from $79.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Piper Sandler boosted their target price on shares of Voya Financial from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company raised their price target on shares of Voya Financial from $91.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.44.

Voya Financial Price Performance

Voya Financial stock traded up $0.59 during trading hours on Wednesday, hitting $72.25. 842,664 shares of the company traded hands, compared to its average volume of 680,418. The firm has a market cap of $7.28 billion, a P/E ratio of 10.26, a P/E/G ratio of 0.51 and a beta of 1.07. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.51. Voya Financial, Inc. has a 1-year low of $63.02 and a 1-year high of $77.00. The firm’s 50-day simple moving average is $71.98 and its two-hundred day simple moving average is $71.50.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, April 30th. The asset manager reported $1.88 EPS for the quarter, topping the consensus estimate of $1.58 by $0.30. Voya Financial had a net margin of 10.48% and a return on equity of 16.74%. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the business earned $1.69 earnings per share. Voya Financial’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, analysts forecast that Voya Financial, Inc. will post 8.53 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, May 24th. Voya Financial’s dividend payout ratio is 22.73%.

About Voya Financial

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.