Fifth Third Bancorp Trims Stake in Voya Financial, Inc. $VOYA

Fifth Third Bancorp lowered its holdings in Voya Financial, Inc. (NYSE:VOYA) by 29.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,232 shares of the asset manager’s stock after selling 515 shares during the quarter. Fifth Third Bancorp’s holdings in Voya Financial were worth $87,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Voya Financial by 58.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,449 shares of the asset manager’s stock valued at $174,000 after buying an additional 905 shares during the period. A&I Financial Services LLC boosted its position in shares of Voya Financial by 5.9% during the 2nd quarter. A&I Financial Services LLC now owns 8,578 shares of the asset manager’s stock worth $609,000 after acquiring an additional 478 shares in the last quarter. CX Institutional boosted its position in shares of Voya Financial by 20.7% during the 2nd quarter. CX Institutional now owns 76,191 shares of the asset manager’s stock worth $5,410,000 after acquiring an additional 13,050 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Voya Financial by 3.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,719 shares of the asset manager’s stock worth $781,000 after acquiring an additional 351 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Voya Financial during the 1st quarter worth about $1,973,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Voya Financial from $76.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. UBS Group upped their price objective on Voya Financial from $87.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. upped their price objective on Voya Financial from $80.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Barclays upped their price objective on Voya Financial from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, July 7th. Finally, Evercore ISI raised their price target on Voya Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 13th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Voya Financial has an average rating of “Moderate Buy” and an average target price of $83.70.

Voya Financial Trading Down 0.6%

Shares of VOYA stock opened at $74.34 on Thursday. The business’s 50 day moving average is $74.18 and its two-hundred day moving average is $68.80. Voya Financial, Inc. has a twelve month low of $52.43 and a twelve month high of $84.30. The company has a market capitalization of $7.17 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 0.56 and a beta of 0.98. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.44.

Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, August 5th. The asset manager reported $2.40 earnings per share for the quarter, beating the consensus estimate 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 period last year, the business posted $2.18 EPS. The company’s revenue was down 2.6% on a year-over-year basis. Equities analysts forecast that Voya Financial, Inc. will post 8.39 EPS for the current year.

Voya Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Tuesday, August 26th were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, August 26th. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. Voya Financial’s dividend payout ratio is presently 36.00%.

About Voya Financial

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.