Basswood Capital Management L.L.C. Purchases New Stake in Voya Financial, Inc. (NYSE:VOYA)

Basswood Capital Management L.L.C. acquired a new position in shares of Voya Financial, Inc. (NYSE:VOYA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 112,896 shares of the asset manager’s stock, valued at approximately $8,944,000.

Several other institutional investors and hedge funds also recently bought and sold shares of VOYA. M&G Plc boosted its holdings in shares of Voya Financial by 18.6% during the second quarter. M&G Plc now owns 117,706 shares of the asset manager’s stock worth $8,357,000 after purchasing an additional 18,471 shares during the period. Dimensional Fund Advisors LP lifted its position in Voya Financial by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock worth $146,234,000 after buying an additional 248,795 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Voya Financial by 15,513.4% during the 3rd quarter. International Assets Investment Management LLC now owns 20,922 shares of the asset manager’s stock valued at $1,657,000 after buying an additional 20,788 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Voya Financial by 1.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager’s stock valued at $212,152,000 after acquiring an additional 38,438 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Voya Financial in the third quarter worth $597,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Insider Activity at Voya Financial

In related news, insider Tony D. Oh sold 715 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total transaction of $58,594.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on VOYA. Morgan Stanley lowered their target price on Voya Financial from $76.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Piper Sandler lifted their price target on Voya Financial from $88.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. downgraded Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price objective on the stock. in a report on Thursday, October 3rd. Royal Bank of Canada lifted their target price on shares of Voya Financial from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Evercore ISI increased their price target on shares of Voya Financial from $79.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Voya Financial currently has an average rating of “Moderate Buy” and an average target price of $86.00.

Voya Financial Stock Up 0.1 %

Voya Financial stock opened at $83.00 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.31 and a quick ratio of 0.31. Voya Financial, Inc. has a fifty-two week low of $63.11 and a fifty-two week high of $84.30. The firm has a fifty day moving average price of $80.65 and a two-hundred day moving average price of $74.82. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 0.58 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.07. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.07 EPS. As a group, analysts forecast that Voya Financial, Inc. will post 8.4 earnings per share for the current year.

Voya Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, November 26th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, November 26th. Voya Financial’s dividend payout ratio (DPR) is currently 28.66%.

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.