State of Michigan Retirement System reduced its stake in Voya Financial, Inc. (NYSE:VOYA – Free Report) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,516 shares of the asset manager’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Voya Financial were worth $1,752,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Atlas Capital Advisors LLC lifted its position in Voya Financial by 48.4% in the 4th quarter. Atlas Capital Advisors LLC now owns 417 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 136 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its position in Voya Financial by 22.1% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 940 shares of the asset manager’s stock valued at $62,000 after acquiring an additional 170 shares in the last quarter. abrdn plc lifted its position in Voya Financial by 2.7% in the 4th quarter. abrdn plc now owns 8,232 shares of the asset manager’s stock valued at $506,000 after acquiring an additional 219 shares in the last quarter. FCA Corp TX lifted its position in Voya Financial by 0.6% in the 1st quarter. FCA Corp TX now owns 42,923 shares of the asset manager’s stock valued at $2,848,000 after acquiring an additional 239 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in Voya Financial by 6.5% in the 1st quarter. HighTower Advisors LLC now owns 3,960 shares of the asset manager’s stock valued at $262,000 after acquiring an additional 243 shares in the last quarter.
Analysts Set New Price Targets
Several equities research analysts have issued reports on VOYA shares. Wells Fargo & Company lowered their price target on shares of Voya Financial from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 5th. StockNews.com started coverage on shares of Voya Financial in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Truist Financial lowered their price target on shares of Voya Financial from $80.00 to $75.00 in a research note on Thursday, May 4th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Voya Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.73.
Voya Financial Stock Down 0.2 %
Voya Financial (NYSE:VOYA – Get Free Report) last released its quarterly earnings data on Tuesday, May 2nd. The asset manager reported $1.69 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.03). The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $288.10 million. Voya Financial had a return on equity of 14.77% and a net margin of 9.58%. During the same quarter in the prior year, the firm earned $1.47 earnings per share. Sell-side analysts anticipate that Voya Financial, Inc. will post 8.04 earnings per share for the current year.
Voya Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 28th. Investors of record on Friday, May 26th were paid a $0.20 dividend. The ex-dividend date was Thursday, May 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.08%. Voya Financial’s dividend payout ratio (DPR) is currently 16.70%.
Voya Financial Company Profile
Voya Financial, Inc operates as a retirement, investment, and employee benefits company in the United States. Its Wealth Solutions segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and services, as well as financial planning and advisory services.
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