Raymond James & Associates Sells 11,356 Shares of Voya Financial, Inc. (NYSE:VOYA)

Raymond James & Associates cut its position in Voya Financial, Inc. (NYSE:VOYA – Get Rating) by 8.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,339 shares of the asset manager’s stock after selling 11,356 shares during the quarter. Raymond James & Associates owned about 0.12% of Voya Financial worth $7,154,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Guardian Wealth Advisors LLC bought a new stake in Voya Financial in the 3rd quarter valued at $36,000. Brown Brothers Harriman & Co. acquired a new position in Voya Financial in the 1st quarter valued at $36,000. Ellevest Inc. raised its holdings in Voya Financial by 56.5% in the 3rd quarter. Ellevest Inc. now owns 753 shares of the asset manager’s stock valued at $46,000 after acquiring an additional 272 shares in the last quarter. Industrial Alliance Investment Management Inc. raised its holdings 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. Finally, Eagle Bay Advisors LLC raised its holdings in Voya Financial by 36.0% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,287 shares of the asset manager’s stock valued at $79,000 after acquiring an additional 341 shares in the last quarter.

Insiders Place Their Bets

In other Voya Financial news, Director Rodney O. Martin, Jr. sold 70,774 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The stock was 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 owns 228,208 shares of the company’s stock, valued at approximately $16,793,826.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Voya Financial news, Director Rodney O. Martin, Jr. sold 70,774 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $73.59, for a total value of $5,208,258.66. Following the sale, the director now owns 228,208 shares in the company, valued at approximately $16,793,826.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rodney O. Martin, Jr. sold 39,724 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were 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 owns 149,671 shares in the company, valued at approximately $11,261,246.04. The disclosure for this sale can be found here. Insiders sold a total of 114,062 shares of company stock valued at $8,461,042 in the last 90 days. Corporate insiders own 1.44% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on VOYA. Jefferies Financial Group lifted their price objective on Voya Financial from $74.00 to $78.00 and gave the company a “hold” rating in a report on Tuesday, February 21st. Wells Fargo & Company dropped their price objective on Voya Financial from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, April 5th. StockNews.com began coverage on Voya Financial in a report on Thursday. They issued a “hold” rating for the company. Royal Bank of Canada lifted their price objective on Voya Financial from $79.00 to $87.00 and gave the company an “outperform” rating in a report on Monday, February 13th. Finally, Truist Financial lowered their price target on Voya Financial from $80.00 to $75.00 in a report on Thursday, May 4th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Voya Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.50.

Voya Financial Price Performance

Shares of VOYA opened at $70.49 on Friday. Voya Financial, Inc. has a 12-month low of $56.20 and a 12-month high of $78.11. The business has a 50-day simple moving average of $71.15 and a two-hundred day simple moving average of $68.72. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.62. The stock has a market cap of $6.93 billion, a PE ratio of 14.72, a PEG ratio of 0.64 and a beta of 1.15.

Voya Financial (NYSE:VOYA – Get Rating) last issued its earnings results on Tuesday, May 2nd. The asset manager reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.03). Voya Financial had a return on equity of 14.77% and a net margin of 9.58%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $288.10 million. During the same period in the previous year, the company earned $1.47 EPS. Analysts anticipate that Voya Financial, Inc. will post 8.14 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Friday, May 26th will be issued a $0.20 dividend. The ex-dividend date is Thursday, May 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.13%. Voya Financial’s payout ratio is presently 16.70%.

About Voya Financial

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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.