BlackRock Inc. Sells 692,931 Shares of Voya Financial, Inc. (NYSE:VOYA)

06 Dec 2023, 14:56 by Kim Johansen · The Markets Daily

BlackRock Inc. lowered its stake in Voya Financial, Inc. (NYSE:VOYA – Free Report) by 6.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,899,619 shares of the asset manager’s stock after selling 692,931 shares during the quarter. BlackRock Inc. owned approximately 9.36% of Voya Financial worth $709,902,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Atlas Capital Advisors LLC boosted its stake in Voya Financial by 48.4% in the 4th quarter. Atlas Capital Advisors LLC now owns 417 shares of the asset manager’s stock worth $26,000 after purchasing an additional 136 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Voya Financial by 115.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 474 shares of the asset manager’s stock worth $34,000 after purchasing an additional 254 shares during the period. Sunbelt Securities Inc. bought a new position in Voya Financial in the 1st quarter worth about $35,000. Brown Brothers Harriman & Co. bought a new stake in shares of Voya Financial during the 1st quarter valued at about $36,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Voya Financial during the 1st quarter valued at about $46,000. Institutional investors own 96.10% of the company’s stock.

Wall Street Analyst Weigh In

VOYA has been the subject of a number of research analyst reports. Jefferies Financial Group dropped their price target on Voya Financial from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, September 14th. Citigroup lifted their price target on Voya Financial from $85.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, August 11th. StockNews.com downgraded Voya Financial from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Wells Fargo & Company dropped their price target on Voya Financial from $91.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 price target on shares of Voya Financial in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.75.

Check Out Our Latest Analysis on Voya Financial

Voya Financial Price Performance

Shares of Voya Financial stock opened at $71.65 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.29 and a quick ratio of 0.29. The business’s 50 day simple moving average is $68.27 and its two-hundred day simple moving average is $70.12. The stock has a market capitalization of $7.49 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 0.71 and a beta of 1.12. Voya Financial, Inc. has a one year low of $58.83 and a one year high of $78.11.

Voya Financial (NYSE:VOYA – Get Free Report) last issued its quarterly earnings results on Tuesday, October 31st. The asset manager reported $2.07 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $336.28 million. Voya Financial had a return on equity of 16.91% and a net margin of 10.81%. During the same period in the previous year, the company earned $2.30 earnings per share. Analysts forecast that Voya Financial, Inc. will post 8.21 EPS for the current year.

Voya Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Monday, November 27th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.23%. The ex-dividend date is Friday, November 24th. Voya Financial’s dividend payout ratio (DPR) is 26.23%.

Insiders Place Their Bets

In other news, insider Tony D. Oh sold 714 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $68.02, for a total transaction of $48,566.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.44% of the company’s stock.

About Voya Financial

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