Federated Hermes Inc. Purchases 2,674 Shares of Voya Financial, Inc. (NYSE:VOYA)

Federated Hermes Inc. lifted its position in shares of Voya Financial, Inc. (NYSE:VOYA) by 11.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 25,527 shares of the asset manager’s stock after buying an additional 2,674 shares during the quarter. Federated Hermes Inc.’s holdings in Voya Financial were worth $1,862,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Voya Financial by 7.8% in the third quarter. Vanguard Group Inc. now owns 10,465,556 shares of the asset manager’s stock valued at $695,436,000 after acquiring an additional 752,851 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Voya Financial by 2.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,610,199 shares of the asset manager’s stock valued at $115,621,000 after acquiring an additional 40,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Voya Financial by 8.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 663,013 shares of the asset manager’s stock valued at $44,057,000 after acquiring an additional 50,015 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in Voya Financial by 1,722.3% in the third quarter. Jupiter Asset Management Ltd. now owns 612,754 shares of the asset manager’s stock valued at $40,718,000 after acquiring an additional 579,128 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Voya Financial by 67.4% in the third quarter. Invesco Ltd. now owns 423,702 shares of the asset manager’s stock valued at $28,155,000 after acquiring an additional 170,605 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley reduced their target price on Voya Financial from $79.00 to $78.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Evercore ISI increased their price target on Voya Financial from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Royal Bank of Canada cut their price target on Voya Financial from $85.00 to $83.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Wells Fargo & Company increased their price target on Voya Financial from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Piper Sandler increased their price target on Voya Financial from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Voya Financial has an average rating of “Moderate Buy” and an average target price of $82.50.

Voya Financial Price Performance

Shares of NYSE:VOYA opened at $68.35 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.55. Voya Financial, Inc. has a twelve month low of $63.02 and a twelve month high of $77.28. The stock’s 50 day moving average is $69.73 and its 200-day moving average is $70.32. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.46 and a beta of 1.06.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Tuesday, February 6th. The asset manager reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. The business had revenue of $236.00 million during the quarter, compared to analyst estimates of $304.66 million. Voya Financial had a return on equity of 16.60% and a net margin of 8.51%. Sell-side analysts forecast that Voya Financial, Inc. will post 8.39 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Tuesday, May 28th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Friday, May 24th. Voya Financial’s payout ratio is currently 29.47%.

Voya Financial Company Profile

Voya Financial, Inc engages in the provision of workplace benefits and savings products in the United States and internationally. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees.