Raymond James Financial Inc. Invests $8.02 Million in Voya Financial, Inc. (NYSE:VOYA)

Raymond James Financial Inc. purchased a new position in Voya Financial, Inc. (NYSE:VOYA) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 116,481 shares of the asset manager’s stock, valued at approximately $8,018,000.

A number of other hedge funds have also recently made changes to their positions in VOYA. Jones Financial Companies Lllp boosted its position in shares of Voya Financial by 81.0% in the 4th quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager’s stock worth $28,000 after purchasing an additional 183 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Voya Financial by 207.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 485 shares of the asset manager’s stock worth $33,000 after purchasing an additional 327 shares in the last quarter. R Squared Ltd purchased a new position in Voya Financial in the 4th quarter worth approximately $41,000. Venturi Wealth Management LLC raised its holdings in Voya Financial by 45.0% in the 4th quarter. Venturi Wealth Management LLC now owns 648 shares of the asset manager’s stock worth $45,000 after acquiring an additional 201 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in Voya Financial in the 3rd quarter worth approximately $79,000. 96.10% of the stock is owned by institutional investors.

Voya Financial Price Performance

Shares of VOYA opened at $67.77 on Friday. 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 firm has a market cap of $6.47 billion, a PE ratio of 11.07, a P/E/G ratio of 0.48 and a beta of 1.03. Voya Financial, Inc. has a 1-year low of $64.10 and a 1-year high of $84.30. The firm has a fifty day simple moving average of $70.43 and a two-hundred day simple moving average of $74.50.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, February 4th. The asset manager reported $1.50 EPS for the quarter, missing the consensus estimate 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 EPS for the current year.

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, February 25th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $1.80 annualized dividend and a dividend yield of 2.66%. Voya Financial’s dividend payout ratio (DPR) is 29.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Voya Financial from $76.00 to $79.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Piper Sandler decreased their price objective on shares of 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 decreased their price objective on shares of Voya Financial from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Barclays lowered shares of Voya Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Morgan Stanley upgraded shares of Voya Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $76.00 to $87.00 in a report on Friday, February 28th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.55.

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.