Net Worth Advisory Group Buys New Shares in Voya Financial, Inc. (NYSE:VOYA)

Net Worth Advisory Group acquired a new stake in Voya Financial, Inc. (NYSE:VOYA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,147 shares of the asset manager’s stock, valued at approximately $725,000.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Voya Financial by 1,020.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,368,185 shares of the asset manager’s stock valued at $175,057,000 after acquiring an additional 2,156,773 shares during the last quarter. Boston Partners grew its stake in Voya Financial by 83.8% in the first quarter. Boston Partners now owns 2,525,604 shares of the asset manager’s stock valued at $186,310,000 after acquiring an additional 1,151,822 shares during the period. Vanguard Group Inc. lifted its stake in shares of Voya Financial by 6.2% in the first quarter. Vanguard Group Inc. now owns 11,067,291 shares of the asset manager’s stock valued at $818,094,000 after buying an additional 644,216 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Voya Financial by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock valued at $146,234,000 after buying an additional 248,795 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Voya Financial in the 2nd quarter worth $13,013,000. Institutional investors and hedge funds own 96.10% of the company’s stock.

Voya Financial Stock Down 0.4 %

VOYA opened at $83.54 on Friday. Voya Financial, Inc. has a fifty-two week low of $63.02 and a fifty-two week high of $83.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 0.57 and a beta of 1.03. The firm’s fifty day moving average is $73.95 and its 200 day moving average is $72.45.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, July 30th. The asset manager reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.13. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.87 billion. Voya Financial had a return on equity of 16.11% and a net margin of 10.87%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.31 earnings per share. On average, sell-side analysts forecast that Voya Financial, Inc. will post 8.31 earnings per share for the current fiscal year.

Voya Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $1.80 annualized dividend and a dividend yield of 2.15%. This is a boost from Voya Financial’s previous quarterly dividend of $0.40. Voya Financial’s dividend payout ratio (DPR) is presently 25.57%.

Analyst Upgrades and Downgrades

VOYA has been the topic of several research analyst reports. Bank of America upped their price objective on Voya Financial from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Citigroup upped their price objective on shares of Voya Financial from $86.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler boosted their target price on Voya Financial from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Barclays raised their price target on Voya Financial from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley dropped their target price on shares of Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.27.

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.