Citigroup Inc. Trims Stake in Voya Financial, Inc. (NYSE:VOYA)

Citigroup Inc. reduced its position in Voya Financial, Inc. (NYSE:VOYA – Get Rating) by 42.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,268 shares of the asset manager’s stock after selling 36,833 shares during the quarter. Citigroup Inc. owned 0.05% of Voya Financial worth $3,091,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VOYA. Brown Brothers Harriman & Co. purchased a new position in shares of Voya Financial during the first quarter worth approximately $36,000. Guardian Wealth Advisors LLC purchased a new position in shares of Voya Financial during the third quarter worth approximately $36,000. Ellevest Inc. increased its position in shares of Voya Financial by 56.5% during the third quarter. Ellevest Inc. now owns 753 shares of the asset manager’s stock worth $46,000 after acquiring an additional 272 shares during the period. Industrial Alliance Investment Management Inc. boosted its stake in shares of Voya Financial by 22.1% during the first 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 in the last quarter. Finally, Eagle Bay Advisors LLC boosted its stake in shares of Voya Financial by 36.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,287 shares of the asset manager’s stock valued at $79,000 after purchasing an additional 341 shares in the last quarter.

Insider Buying and Selling at Voya Financial

In other news, insider Santhosh Keshavan sold 3,564 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $74.06, for a total transaction of $263,949.84. Following the completion of the sale, the insider now owns 18,312 shares of the company’s stock, valued at $1,356,186.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Santhosh Keshavan sold 3,564 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $74.06, for a total transaction of $263,949.84. Following the transaction, the insider now directly owns 18,312 shares in the company, valued at $1,356,186.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rodney O. Martin, Jr. sold 39,724 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $75.24, for a total transaction of $2,988,833.76. Following the transaction, the director now owns 149,671 shares in the company, valued at $11,261,246.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,062 shares of company stock valued at $8,461,042. Corporate insiders own 1.44% of the company’s stock.

Wall Street Analyst Weigh In

VOYA has been the topic of a number of recent research reports. Royal Bank of Canada increased their price objective on shares of Voya Financial from $79.00 to $87.00 and gave the company an “outperform” rating in a research note on Monday, February 13th. Wells Fargo & Company lowered their target price on shares of Voya Financial from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, April 5th. Jefferies Financial Group raised their target price on shares of Voya Financial from $74.00 to $78.00 and gave the company a “hold” rating in a research note on Tuesday, February 21st. Truist Financial lowered their target price on shares of Voya Financial from $80.00 to $75.00 in a research note on Thursday, May 4th. Finally, Piper Sandler raised their target price on shares of Voya Financial from $78.00 to $84.00 in a research note on Thursday, February 9th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Voya Financial presently has an average rating of “Moderate Buy” and a consensus target price of $82.50.

Voya Financial Trading Up 0.5 %

Shares of Voya Financial stock opened at $70.84 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a fifty day moving average price of $71.25 and a 200 day moving average price of $68.77. Voya Financial, Inc. has a 1 year low of $56.20 and a 1 year high of $78.11. The stock has a market cap of $6.96 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 0.63 and a beta of 1.15.

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

Voya Financial Announces Dividend

The company also recently disclosed 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 of this dividend 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 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.