Voya Financial, Inc. (NYSE:VOYA) Stake Boosted by Vestcor Inc

Vestcor Inc grew its stake in shares of Voya Financial, Inc. (NYSE:VOYA) by 296.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,381 shares of the asset manager’s stock after purchasing an additional 7,765 shares during the quarter. Vestcor Inc’s holdings in Voya Financial were worth $715,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Wealthspire Advisors LLC grew its holdings in shares of Voya Financial by 5.3% during the fourth quarter. Wealthspire Advisors LLC now owns 2,967 shares of the asset manager’s stock valued at $204,000 after purchasing an additional 148 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Voya Financial by 17.0% during the fourth quarter. Brooklyn Investment Group now owns 1,166 shares of the asset manager’s stock valued at $80,000 after purchasing an additional 169 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Voya Financial by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 3,307 shares of the asset manager’s stock valued at $228,000 after purchasing an additional 177 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Voya Financial by 81.0% during the fourth quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 183 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Voya Financial by 13.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,532 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 184 shares during the last quarter. 96.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on VOYA shares. Barclays downgraded Voya Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods reduced their price objective on Voya Financial from $90.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Evercore ISI reduced their price objective on Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a research report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their price objective on Voya Financial from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Piper Sandler reduced their price objective on Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.55.

Voya Financial Stock Performance

VOYA opened at $66.84 on Monday. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 0.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.30 and a quick ratio of 0.31. Voya Financial, Inc. has a 1-year low of $64.10 and a 1-year high of $84.30. The business has a 50 day moving average price of $70.44 and a two-hundred day moving average price of $74.62.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. Research analysts predict that Voya Financial, Inc. will post 8.39 EPS for the current fiscal year.

Voya Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, February 25th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $1.80 annualized dividend and a dividend yield of 2.69%. Voya Financial’s dividend payout ratio is currently 29.41%.

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.