Voya Financial, Inc. (NYSE:VOYA) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its holdings in Voya Financial, Inc. (NYSE:VOYA) by 17.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 487,722 shares of the asset manager’s stock after selling 105,203 shares during the quarter. Bank of America Corp DE owned 0.51% of Voya Financial worth $33,570,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Impax Asset Management Group plc increased its stake in Voya Financial by 277.8% during the 4th quarter. Impax Asset Management Group plc now owns 2,898,785 shares of the asset manager’s stock worth $199,062,000 after buying an additional 2,131,578 shares in the last quarter. Norges Bank purchased a new stake in Voya Financial during the 4th quarter worth approximately $96,508,000. Wealthfront Advisers LLC purchased a new stake in Voya Financial during the 4th quarter worth approximately $67,214,000. Bank of New York Mellon Corp increased its stake in Voya Financial by 15.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager’s stock worth $445,487,000 after buying an additional 876,399 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in Voya Financial during the 4th quarter worth approximately $47,155,000. Institutional investors and hedge funds own 96.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on VOYA. Barclays set a $70.00 price objective on Voya Financial in a research note on Wednesday, May 7th. Morgan Stanley upgraded Voya Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $76.00 to $87.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on Voya Financial from $81.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their price target on Voya Financial from $80.00 to $83.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, UBS Group dropped their price target on Voya Financial from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $82.08.

Voya Financial Trading Up 0.6%

Shares of Voya Financial stock opened at $69.46 on Friday. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.48 and a beta of 0.95. Voya Financial, Inc. has a fifty-two week low of $52.43 and a fifty-two week high of $84.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.31 and a current ratio of 0.30. The stock has a 50 day moving average of $62.87 and a 200 day moving average of $69.89.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Tuesday, May 6th. The asset manager reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.56. The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.94 billion. Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.77 earnings per share. As a group, research analysts predict that Voya Financial, Inc. will post 8.39 earnings per share for the current year.

Voya Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, May 27th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.80 annualized dividend and a yield of 2.59%. Voya Financial’s payout ratio is 33.96%.

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.