Cadence Bank Purchases 18,462 Shares of Voya Financial, Inc. $VOYA

Cadence Bank grew its holdings in shares of Voya Financial, Inc. (NYSE:VOYA) by 59.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,299 shares of the asset manager’s stock after buying an additional 18,462 shares during the period. Cadence Bank owned 0.05% of Voya Financial worth $3,688,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank of New York Mellon Corp grew its stake in shares of Voya Financial by 17.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,516,879 shares of the asset manager’s stock worth $487,463,000 after buying an additional 977,870 shares during the last quarter. Kelly Financial Group LLC boosted its stake in Voya Financial by 1.9% in the 3rd quarter. Kelly Financial Group LLC now owns 4,072,102 shares of the asset manager’s stock worth $304,593,000 after purchasing an additional 77,418 shares in the last quarter. Boston Partners grew its position in Voya Financial by 3.6% during the 3rd quarter. Boston Partners now owns 3,495,319 shares of the asset manager’s stock valued at $261,436,000 after purchasing an additional 121,799 shares during the last quarter. Ameriprise Financial Inc. grew its position in Voya Financial by 6.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,418,536 shares of the asset manager’s stock valued at $242,716,000 after purchasing an additional 219,130 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Voya Financial by 3.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,662,301 shares of the asset manager’s stock valued at $199,140,000 after purchasing an additional 88,151 shares in the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on VOYA shares. Wall Street Zen cut shares of Voya Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. UBS Group set a $90.00 price target on shares of Voya Financial in a research report on Wednesday, February 4th. Barclays upgraded shares of Voya Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $83.00 to $93.00 in a report on Thursday, January 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Voya Financial in a research note on Monday, December 29th. Finally, Royal Bank Of Canada lifted their target price on Voya Financial from $85.00 to $87.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Voya Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.89.

Voya Financial Stock Up 1.2%

NYSE VOYA opened at $66.32 on Friday. Voya Financial, Inc. has a 52 week low of $52.43 and a 52 week high of $79.99. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $6.15 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 0.44 and a beta of 0.90. The stock’s 50-day moving average price is $73.61 and its 200-day moving average price is $73.70.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Tuesday, February 3rd. The asset manager reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.17). Voya Financial had a net margin of 7.99% and a return on equity of 13.96%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the firm posted $1.40 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts predict that Voya Financial, Inc. will post 8.39 earnings per share for the current year.

Voya Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Wednesday, February 25th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, February 25th. Voya Financial’s dividend payout ratio (DPR) is presently 29.89%.

Voya Financial Company Profile

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.