Raymond James Financial Inc. Cuts Stock Position in Voya Financial, Inc. $VOYA

Raymond James Financial Inc. cut its stake in Voya Financial, Inc. (NYSE:VOYA) by 7.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,595 shares of the asset manager’s stock after selling 8,886 shares during the quarter. Raymond James Financial Inc. owned about 0.11% of Voya Financial worth $7,291,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Kelly Financial Group LLC acquired a new stake in shares of Voya Financial in the first quarter valued at about $270,680,000. Pzena Investment Management LLC boosted its holdings in Voya Financial by 0.9% in the 1st quarter. Pzena Investment Management LLC now owns 3,599,164 shares of the asset manager’s stock worth $243,879,000 after acquiring an additional 32,061 shares during the period. Dimensional Fund Advisors LP grew its position in Voya Financial by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,369,510 shares of the asset manager’s stock valued at $160,552,000 after acquiring an additional 163,211 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Voya Financial by 278.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 460,803 shares of the asset manager’s stock valued at $31,717,000 after purchasing an additional 339,139 shares during the period. Finally, Algebris UK Ltd raised its stake in shares of Voya Financial by 250.0% during the first quarter. Algebris UK Ltd now owns 354,351 shares of the asset manager’s stock valued at $22,206,000 after purchasing an additional 253,100 shares during the period. Institutional investors and hedge funds own 96.10% of the company’s stock.

Voya Financial Stock Down 0.7%

Shares of Voya Financial stock opened at $74.55 on Wednesday. The business has a 50-day moving average price of $72.51 and a 200 day moving average price of $67.99. Voya Financial, Inc. has a fifty-two week low of $52.43 and a fifty-two week high of $84.30. The firm has a market cap of $7.19 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.60 and a beta of 1.00. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.44.

Voya Financial (NYSE:VOYA) last released its earnings results on Tuesday, August 5th. The asset manager reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.31. Voya Financial had a return on equity of 13.72% and a net margin of 6.73%.The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the business posted $2.18 EPS. Voya Financial’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, August 26th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, August 26th. This represents a $1.80 annualized dividend and a yield of 2.4%. Voya Financial’s payout ratio is presently 36.00%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of Voya Financial from $89.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. JPMorgan Chase & Co. upped their price objective on shares of Voya Financial from $80.00 to $89.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Evercore ISI lifted their target price on Voya Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 13th. Royal Bank Of Canada increased their price target on Voya Financial from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, August 19th. Finally, Keefe, Bruyette & Woods raised their price objective on Voya Financial from $80.00 to $83.00 and gave the company an “outperform” rating in a research note on Tuesday, May 13th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $83.70.

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.