Shell Asset Management Co. lessened its stake in Voya Financial, Inc. (NYSE:VOYA – Get Rating) by 20.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,936 shares of the asset manager’s stock after selling 509 shares during the period. Shell Asset Management Co.’s holdings in Voya Financial were worth $117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Voya Financial by 1,035.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,321 shares of the asset manager’s stock worth $805,000 after acquiring an additional 12,148 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Voya Financial by 1.8% during the third quarter. Synovus Financial Corp now owns 18,358 shares of the asset manager’s stock worth $1,111,000 after acquiring an additional 327 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Voya Financial during the second quarter worth about $1,127,000. Prana Capital Management LP grew its stake in shares of Voya Financial by 126.8% during the second quarter. Prana Capital Management LP now owns 397,159 shares of the asset manager’s stock worth $23,643,000 after acquiring an additional 222,043 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Voya Financial by 2.7% during the second quarter. Rhumbline Advisers now owns 294,048 shares of the asset manager’s stock worth $17,505,000 after acquiring an additional 7,622 shares during the last quarter.
Insider Transactions at Voya Financial
In other news, Director Rodney O. Martin, Jr. sold 70,774 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $73.59, for a total transaction of $5,208,258.66. Following the completion of the transaction, the director now directly owns 228,208 shares of the company’s stock, valued at approximately $16,793,826.72. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Santhosh Keshavan sold 3,564 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $74.06, for a total transaction of $263,949.84. Following the completion of the transaction, the insider now directly owns 18,312 shares of the company’s stock, valued at approximately $1,356,186.72. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Rodney O. Martin, Jr. sold 70,774 shares of the stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $73.59, for a total value of $5,208,258.66. Following the completion of the transaction, the director now directly owns 228,208 shares of the company’s stock, valued at $16,793,826.72. The disclosure for this sale can be found here. Insiders sold a total of 183,926 shares of company stock valued at $13,606,926 in the last three months. 1.44% of the stock is currently owned by company insiders.
Voya Financial Trading Up 2.4 %
Voya Financial (NYSE:VOYA – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The asset manager reported $2.18 EPS for the quarter, topping the consensus estimate of $1.53 by $0.65. Voya Financial had a return on equity of 13.09% and a net margin of 9.37%. The business had revenue of $880.00 million for the quarter, compared to analyst estimates of $259.86 million. During the same quarter in the prior year, the firm posted $1.90 EPS. Analysts anticipate that Voya Financial, Inc. will post 8.04 earnings per share for the current year.
Voya Financial Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Friday, February 24th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.05%. This is an increase from Voya Financial’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, February 23rd. Voya Financial’s dividend payout ratio is presently 18.18%.
Wall Street Analyst Weigh In
VOYA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Voya Financial from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. Truist Financial boosted their price target on Voya Financial from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Thursday, February 9th. Piper Sandler upped their target price on Voya Financial from $78.00 to $84.00 in a research report on Thursday, February 9th. Royal Bank of Canada upped their target price on Voya Financial from $79.00 to $87.00 and gave the company an “outperform” rating in a research report on Monday, February 13th. Finally, Morgan Stanley upped their target price on Voya Financial from $78.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, January 10th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Voya Financial presently has an average rating of “Moderate Buy” and a consensus price target of $83.17.
Voya Financial Company Profile
Voya Financial, Inc is a retirement, investment, and insurance company, which engages in the provision of financial services. It operates through the following segments: Retirement, Investment Management, and Employee Benefits. The Retirement segment offers tax-deferred, employer-sponsored retirement savings plans and administrative services.
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