State of New Jersey Common Pension Fund D cut its holdings in shares of Voya Financial, Inc. (NYSE:VOYA) by 17.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,604 shares of the asset manager’s stock after selling 16,211 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of Voya Financial worth $3,767,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Twin Tree Management LP purchased a new stake in shares of Voya Financial during the 2nd quarter valued at $31,000. NuWave Investment Management LLC bought a new position in shares of Voya Financial during the 3rd quarter worth $38,000. TFO TDC LLC bought a new position in shares of Voya Financial during the 2nd quarter worth $48,000. FinTrust Capital Advisors LLC bought a new position in shares of Voya Financial during the 2nd quarter worth $56,000. Finally, Cornerstone Advisors Inc. grew its stake in shares of Voya Financial by 28.1% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,448 shares of the asset manager’s stock worth $68,000 after acquiring an additional 318 shares during the period.
Several research firms have recently weighed in on VOYA. Barclays began coverage on Voya Financial in a research note on Thursday, August 13th. They set an “overweight” rating and a $60.00 price target for the company. Morgan Stanley lifted their target price on Voya Financial from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, October 6th. Truist Financial increased their price target on shares of Voya Financial from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 13th. Royal Bank of Canada reaffirmed a “buy” rating and set a $60.00 target price on shares of Voya Financial in a report on Monday, July 20th. Finally, Bank of America reaffirmed a “buy” rating and set a $74.00 target price on shares of Voya Financial in a report on Thursday, October 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $58.64.
Shares of NYSE:VOYA opened at $50.48 on Thursday. The company’s fifty day moving average price is $48.93 and its 200-day moving average price is $47.66. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of -8.46 and a beta of 1.40. Voya Financial, Inc. has a one year low of $29.75 and a one year high of $63.81. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.14 and a quick ratio of 0.14.
Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Wednesday, August 5th. The asset manager reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.66). The company had revenue of $93.00 million during the quarter, compared to the consensus estimate of $221.50 million. Voya Financial had a positive return on equity of 6.56% and a negative net margin of 11.29%. As a group, equities research analysts expect that Voya Financial, Inc. will post 3.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 28th. Stockholders of record on Monday, November 30th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, November 27th. Voya Financial’s payout ratio is 14.22%.
About Voya Financial
Voya Financial, Inc operates as a retirement, investment, and employee benefits company in the United States. The company’s Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and financial services, as well as financial planning and advisory services.
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