Teacher Retirement System of Texas Increases Position in Voya Financial, Inc. (NYSE:VOYA)

Teacher Retirement System of Texas raised its position in shares of Voya Financial, Inc. (NYSE:VOYA) by 26.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,086 shares of the asset manager’s stock after purchasing an additional 2,942 shares during the period. Teacher Retirement System of Texas’ holdings in Voya Financial were worth $954,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Confluence Wealth Services Inc. grew its stake in shares of Voya Financial by 11.6% during the first quarter. Confluence Wealth Services Inc. now owns 15,411 shares of the asset manager’s stock valued at $1,044,000 after buying an additional 1,606 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Voya Financial by 1,305.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 166,913 shares of the asset manager’s stock worth $11,340,000 after purchasing an additional 155,038 shares during the period. Illinois Municipal Retirement Fund lifted its position in Voya Financial by 29.8% in the first quarter. Illinois Municipal Retirement Fund now owns 59,785 shares of the asset manager’s stock valued at $4,051,000 after purchasing an additional 13,712 shares during the last quarter. Bessemer Group Inc. lifted its position in Voya Financial by 142.9% in the first quarter. Bessemer Group Inc. now owns 1,343 shares of the asset manager’s stock valued at $91,000 after purchasing an additional 790 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Voya Financial by 1.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 22,209 shares of the asset manager’s stock valued at $1,505,000 after purchasing an additional 360 shares during the period. Institutional investors own 96.10% of the company’s stock.

Voya Financial Stock Performance

VOYA opened at $73.44 on Tuesday. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 0.67 and a beta of 1.00. Voya Financial, Inc. has a fifty-two week low of $52.43 and a fifty-two week high of $84.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.28 and a current ratio of 0.28. The company has a fifty day moving average of $68.25 and a 200 day moving average of $67.31.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, May 6th. The asset manager reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.56. The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.94 billion. Voya Financial had a return on equity of 14.05% and a net margin of 7.18%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.77 earnings per share. As a group, sell-side analysts forecast that Voya Financial, Inc. will post 8.39 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, May 27th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.45%. The ex-dividend date was Tuesday, May 27th. Voya Financial’s dividend payout ratio is currently 33.96%.

Insider Transactions at Voya Financial

In other Voya Financial news, Director Yvette S. Butler sold 1,700 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $66.18, for a total transaction of $112,506.00. Following the transaction, the director owned 355 shares in the company, valued at approximately $23,493.90. This represents a 82.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on VOYA. Keefe, Bruyette & Woods upped their target price on Voya Financial from $80.00 to $83.00 and gave the company an “outperform” rating in a report on Tuesday, May 13th. Wells Fargo & Company raised their target price on shares of Voya Financial from $76.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Barclays raised their price objective on shares of Voya Financial from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th. UBS Group reduced their target price on Voya Financial from $89.00 to $88.00 and set a “buy” rating on the stock in a report on Friday, May 23rd. Finally, Bank of America restated an “underperform” rating and issued a $71.00 target price (down previously from $79.00) on shares of Voya Financial in a research note on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.83.

Voya Financial 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.