Utah Retirement Systems Sells 700 Shares of Voya Financial, Inc. (NYSE:VOYA)

Posted by Defense World Staff on Mar 13th, 2023

Utah Retirement Systems cut its position in shares of Voya Financial, Inc. (NYSE:VOYA – Get Rating) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,426 shares of the asset manager’s stock after selling 700 shares during the period. Utah Retirement Systems’ holdings in Voya Financial were worth $1,055,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of VOYA. Boston Partners bought a new stake in Voya Financial during the 3rd quarter valued at $121,188,000. Massachusetts Financial Services Co. MA raised its position in shares of Voya Financial by 34.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,113,373 shares of the asset manager’s stock worth $125,809,000 after acquiring an additional 545,666 shares in the last quarter. Samlyn Capital LLC raised its position in shares of Voya Financial by 12.8% in the 2nd quarter. Samlyn Capital LLC now owns 4,628,985 shares of the asset manager’s stock worth $275,563,000 after acquiring an additional 524,969 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Voya Financial by 7.5% in the 1st quarter. Wellington Management Group LLP now owns 7,488,929 shares of the asset manager’s stock worth $496,890,000 after acquiring an additional 519,701 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Voya Financial by 5.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,285,547 shares of the asset manager’s stock worth $380,275,000 after acquiring an additional 345,161 shares in the last quarter.

Analyst Upgrades and Downgrades

VOYA has been the topic of several research analyst reports. Morgan Stanley boosted their target price on Voya Financial from $78.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 10th. Citigroup dropped their price target on Voya Financial from $83.00 to $82.00 in a research note on Wednesday, November 16th. JPMorgan Chase & Co. boosted their price target on Voya Financial from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th. StockNews.com upgraded Voya Financial from a “sell” rating to a “hold” rating in a research note on Thursday, February 9th. Finally, Wells Fargo & Company boosted their price target on Voya Financial from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, February 13th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.17.

Insider Buying and Selling at Voya Financial

In other Voya Financial news, Director Rodney O. Martin, Jr. sold 70,774 shares of the 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 owns 228,208 shares of the company’s stock, valued at $16,793,826.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Rodney O. Martin, Jr. sold 39,724 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $75.24, for a total value of $2,988,833.76. Following the completion of the sale, the director now directly owns 149,671 shares in the company, valued at $11,261,246.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rodney O. Martin, Jr. sold 70,774 shares of the company’s stock in a transaction that occurred 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 sale, the director now 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 223,650 shares of company stock valued at $16,595,760 over the last quarter. 1.44% of the stock is currently owned by insiders.

Voya Financial Stock Performance

NYSE VOYA opened at $68.92 on Monday. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 0.60 and a beta of 1.16. Voya Financial, Inc. has a twelve month low of $56.20 and a twelve month high of $78.11. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average of $70.74 and a 200 day moving average of $66.00.

Voya Financial (NYSE:VOYA – Get Rating) last released its quarterly earnings results on Tuesday, February 7th. The asset manager reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.65. The company had revenue of $880.00 million during the quarter, compared to analysts’ expectations of $259.86 million. Voya Financial had a return on equity of 13.09% and a net margin of 9.37%. During the same quarter in the prior year, the firm posted $1.90 EPS. Sell-side analysts anticipate that Voya Financial, Inc. will post 8.13 EPS for the current fiscal year.

Voya Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 29th. Shareholders of record on Friday, February 24th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, February 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.16%. This is a boost from Voya Financial’s previous quarterly dividend of $0.04. Voya Financial’s dividend payout ratio is presently 18.18%.

Voya Financial Company Profile

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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.