Canada Pension Plan Investment Board boosted its position in shares of Voya Financial Inc (NYSE:VOYA) by 661.4% during the first quarter, Holdings Channel reports. The fund owned 413,046 shares of the asset manager’s stock after buying an additional 358,800 shares during the period. Canada Pension Plan Investment Board owned 0.22% of Voya Financial worth $15,679,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new position in Voya Financial during the fourth quarter worth approximately $126,038,000. Norges Bank purchased a new position in Voya Financial during the fourth quarter worth approximately $80,341,000. Pzena Investment Management LLC boosted its position in Voya Financial by 12.5% in the third quarter. Pzena Investment Management LLC now owns 17,077,755 shares of the asset manager’s stock worth $492,181,000 after buying an additional 1,902,326 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Voya Financial during the fourth quarter worth approximately $37,911,000. Finally, Levin Capital Strategies L.P. boosted its position in Voya Financial by 255.5% in the fourth quarter. Levin Capital Strategies L.P. now owns 1,216,122 shares of the asset manager’s stock worth $47,696,000 after buying an additional 874,072 shares during the last quarter. Institutional investors own 98.37% of the company’s stock.
Shares of Voya Financial Inc (NYSE:VOYA) traded up 0.77% on Friday, reaching $36.76. The company’s stock had a trading volume of 1,316,028 shares. The firm’s market capitalization is $6.96 billion. Voya Financial Inc has a one year low of $22.75 and a one year high of $42.96. The firm has a 50-day moving average price of $37.34 and a 200 day moving average price of $38.23.
Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Wednesday, May 3rd. The asset manager reported $0.81 EPS for the quarter, beating the consensus estimate of $0.74 by $0.07. Voya Financial had a positive return on equity of 3.39% and a negative net margin of 4.20%. The firm earned $303.20 million during the quarter, compared to analyst estimates of $293.84 million. During the same quarter in the prior year, the business posted $0.55 EPS. On average, analysts anticipate that Voya Financial Inc will post $3.55 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Wednesday, May 31st will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, May 26th. This represents a $0.04 annualized dividend and a dividend yield of 0.11%. Voya Financial’s dividend payout ratio is presently -1.77%.
A number of research analysts have recently commented on VOYA shares. Morgan Stanley raised their target price on Voya Financial from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, March 15th. BTIG Research restated a “buy” rating and issued a $50.00 target price on shares of Voya Financial in a research note on Friday, February 3rd. Deutsche Bank AG raised their target price on Voya Financial from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, January 23rd. JPMorgan Chase & Co. lowered their target price on Voya Financial from $39.00 to $38.00 and set an “underweight” rating for the company in a research note on Monday, April 3rd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $50.00 target price on shares of Voya Financial in a research note on Monday, April 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Voya Financial currently has a consensus rating of “Buy” and a consensus price target of $42.36.
In other news, insider Alain M. Karaoglan bought 824 shares of the business’s stock in a transaction that occurred on Friday, March 31st. The shares were purchased at an average cost of $36.17 per share, with a total value of $29,804.08. Following the transaction, the insider now directly owns 35,643 shares in the company, valued at $1,289,207.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nancy Ferrara sold 2,358 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $42.52, for a total value of $100,262.16. Following the completion of the transaction, the insider now directly owns 15,557 shares in the company, valued at $661,483.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,158 shares of company stock valued at $3,025,452. Company insiders own 0.17% of the company’s stock.
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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