Allspring Global Investments Holdings LLC Buys 12,148 Shares of Voya Financial, Inc. (NYSE:VOYA)

Allspring Global Investments Holdings LLC increased its stake in Voya Financial, Inc. (NYSE:VOYAGet Rating) by 1,035.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,321 shares of the asset manager’s stock after acquiring an additional 12,148 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Voya Financial were worth $805,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SeaCrest Wealth Management LLC bought a new position in Voya Financial during the 2nd quarter valued at approximately $36,000. Brown Brothers Harriman & Co. bought a new position in Voya Financial during the 1st quarter valued at approximately $36,000. Neo Ivy Capital Management bought a new position in Voya Financial during the 2nd quarter valued at approximately $55,000. Industrial Alliance Investment Management Inc. raised its position in Voya Financial by 22.1% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 940 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 170 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in Voya Financial by 47.8% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,116 shares of the asset manager’s stock valued at $66,000 after purchasing an additional 361 shares during the last quarter.

Analyst Ratings Changes

VOYA has been the subject of a number of recent analyst reports. StockNews.com raised Voya Financial from a “sell” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. raised Voya Financial from a “neutral” rating to an “overweight” rating and upped their price target for the company from $75.00 to $77.00 in a research report on Friday, January 6th. Citigroup reduced their target price on Voya Financial from $83.00 to $82.00 in a report on Wednesday, November 16th. Wells Fargo & Company upped their target price on Voya Financial from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, January 18th. Finally, Piper Sandler upped their target price on Voya Financial to $74.00 in a report on Thursday, October 13th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $80.64.

Voya Financial Stock Performance

Voya Financial stock opened at $67.96 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $6.60 billion, a P/E ratio of 11.35, a PEG ratio of 3.25 and a beta of 1.15. The stock’s 50 day moving average is $63.66 and its 200 day moving average is $63.00. Voya Financial, Inc. has a twelve month low of $56.20 and a twelve month high of $73.43.

Voya Financial (NYSE:VOYAGet Rating) last issued its earnings results on Tuesday, November 1st. The asset manager reported $2.30 EPS for the quarter, beating the consensus estimate of $1.25 by $1.05. Voya Financial had a return on equity of 11.30% and a net margin of 11.73%. The business had revenue of $356.00 million for the quarter, compared to the consensus estimate of $231.91 million. On average, equities research analysts predict that Voya Financial, Inc. will post 6.81 earnings per share for the current fiscal year.

Voya Financial Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Thursday, February 2nd will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, February 1st. This represents a $0.16 annualized dividend and a dividend yield of 0.24%. Voya Financial’s payout ratio is 13.36%.

Insider Activity

In other news, insider Nancy Ferrara sold 10,000 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $68.00, for a total transaction of $680,000.00. Following the transaction, the insider now directly owns 9,878 shares of the company’s stock, valued at approximately $671,704. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Michael Robert Katz sold 1,472 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $66.18, for a total transaction of $97,416.96. Following the transaction, the insider now directly owns 13,520 shares of the company’s stock, valued at approximately $894,753.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nancy Ferrara sold 10,000 shares of the stock in a transaction on Monday, November 7th. The shares were sold at an average price of $68.00, for a total value of $680,000.00. Following the transaction, the insider now directly owns 9,878 shares in the company, valued at $671,704. The disclosure for this sale can be found here. Insiders own 1.44% of the company’s stock.

Voya Financial 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.

Further Reading

Institutional Ownership by Quarter for Voya Financial (NYSE:VOYA)

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