State Board of Administration of Florida Retirement System lifted its holdings in shares of Voya Financial, Inc. (NYSE:VOYA) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 242,346 shares of the asset manager’s stock after purchasing an additional 4,220 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.13% of Voya Financial worth $9,667,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Voya Financial by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 15,350,277 shares of the asset manager’s stock worth $566,271,000 after purchasing an additional 125,764 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Voya Financial by 1.7% during the 2nd quarter. Franklin Resources Inc. now owns 13,647,536 shares of the asset manager’s stock worth $503,475,000 after purchasing an additional 233,423 shares during the last quarter. BlackRock Inc. increased its stake in shares of Voya Financial by 2.5% during the 2nd quarter. BlackRock Inc. now owns 10,921,195 shares of the asset manager’s stock worth $402,882,000 after purchasing an additional 269,982 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Voya Financial by 28.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,655,104 shares of the asset manager’s stock worth $208,617,000 after purchasing an additional 1,236,885 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Voya Financial by 1.0% during the 2nd quarter. State Street Corp now owns 5,626,094 shares of the asset manager’s stock worth $207,554,000 after purchasing an additional 56,189 shares during the last quarter. Institutional investors own 96.84% of the company’s stock.
Shares of Voya Financial, Inc. (NYSE:VOYA) opened at $40.71 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.44. The stock has a market cap of $7,317.50, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 0.73 and a beta of 1.62. Voya Financial, Inc. has a 12-month low of $33.53 and a 12-month high of $42.96.
Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, October 31st. The asset manager reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.39). The company had revenue of $226.50 million during the quarter, compared to analyst estimates of $322.92 million. Voya Financial had a positive return on equity of 3.92% and a negative net margin of 3.64%. During the same quarter in the prior year, the business earned ($1.24) earnings per share. sell-side analysts predict that Voya Financial, Inc. will post 3.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, November 30th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.04 annualized dividend and a yield of 0.10%. Voya Financial’s dividend payout ratio is -2.23%.
Voya Financial announced that its board has initiated a stock repurchase program on Tuesday, October 31st that authorizes the company to repurchase $800.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several brokerages have recently commented on VOYA. Royal Bank Of Canada increased their price target on shares of Voya Financial from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. BidaskClub upgraded shares of Voya Financial from a “hold” rating to a “buy” rating in a research note on Saturday, September 23rd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $51.00 target price on shares of Voya Financial in a research note on Friday. Wells Fargo & Company set a $50.00 target price on shares of Voya Financial and gave the company a “buy” rating in a research note on Tuesday, October 31st. Finally, ValuEngine lowered shares of Voya Financial from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $47.70.
About Voya Financial
Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.
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