Arizona State Retirement System Lowers Stock Holdings in Voya Financial, Inc. (NYSE:VOYA)

Arizona State Retirement System lowered its position in shares of Voya Financial, Inc. (NYSE:VOYA) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,536 shares of the asset manager’s stock after selling 461 shares during the period. Arizona State Retirement System’s holdings in Voya Financial were worth $1,964,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of VOYA. Impax Asset Management Group plc grew its position in shares of Voya Financial by 277.8% during the 4th quarter. Impax Asset Management Group plc now owns 2,898,785 shares of the asset manager’s stock valued at $199,062,000 after purchasing an additional 2,131,578 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Voya Financial by 15.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager’s stock valued at $445,487,000 after buying an additional 876,399 shares during the period. Hennessy Advisors Inc. purchased a new position in Voya Financial during the fourth quarter worth about $47,155,000. FMR LLC increased its stake in Voya Financial by 25.9% in the 3rd quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock worth $228,474,000 after acquiring an additional 592,523 shares during the last quarter. Finally, Basswood Capital Management L.L.C. bought a new position in Voya Financial in the 3rd quarter worth about $8,944,000. Institutional investors own 96.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on VOYA shares. Piper Sandler cut their price objective on Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada dropped their target price on shares of Voya Financial from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Morgan Stanley raised shares of Voya Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $76.00 to $87.00 in a report on Friday, February 28th. Bank of America reaffirmed a “neutral” rating and set a $83.00 price objective (down from $91.00) on shares of Voya Financial in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. reduced their target price on Voya Financial from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.55.

Voya Financial Stock Down 1.0 %

Shares of NYSE:VOYA opened at $67.52 on Wednesday. Voya Financial, Inc. has a 12-month low of $64.10 and a 12-month high of $84.30. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59. The stock’s 50-day moving average price is $70.64 and its 200-day moving average price is $74.68. The stock has a market capitalization of $6.45 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 0.48 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Tuesday, February 4th. The asset manager reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.65). Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. On average, equities analysts anticipate that Voya Financial, Inc. will post 8.39 earnings per share for the current year.

Voya Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $1.80 annualized dividend and a yield of 2.67%. Voya Financial’s payout ratio is currently 29.41%.

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.