Franklin Resources Inc. lowered its stake in Voya Financial Inc (NYSE:VOYA) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,923,617 shares of the asset manager’s stock after selling 696,972 shares during the period. Franklin Resources Inc. owned about 0.10% of Voya Financial worth $854,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its position in Voya Financial by 92.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,104 shares of the asset manager’s stock valued at $103,000 after purchasing an additional 1,008 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Voya Financial during the 4th quarter worth about $133,000. Advisor Group Inc. raised its position in shares of Voya Financial by 171.6% during the 4th quarter. Advisor Group Inc. now owns 4,576 shares of the asset manager’s stock worth $226,000 after acquiring an additional 2,891 shares in the last quarter. Eagle Global Advisors LLC acquired a new stake in shares of Voya Financial during the 4th quarter worth about $247,000. Finally, Focused Wealth Management Inc acquired a new stake in shares of Voya Financial during the 4th quarter worth about $257,000.
VOYA has been the topic of several research analyst reports. Wells Fargo & Co set a $62.00 target price on Voya Financial and gave the stock a “buy” rating in a research report on Tuesday, May 1st. Deutsche Bank raised their target price on Voya Financial from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, April 17th. UBS initiated coverage on Voya Financial in a research report on Friday, March 2nd. They set a “buy” rating and a $65.00 target price on the stock. Bank of America initiated coverage on Voya Financial in a research report on Monday, March 26th. They set a “buy” rating and a $60.00 target price on the stock. Finally, Credit Suisse Group initiated coverage on Voya Financial in a research report on Wednesday, April 25th. They set an “outperform” rating and a $60.00 target price on the stock. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $58.50.
Voya Financial opened at $53.37 on Friday, MarketBeat.com reports. The company has a market cap of $9.02 billion, a P/E ratio of 17.73, a PEG ratio of 0.80 and a beta of 1.53. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.50. Voya Financial Inc has a 52-week low of $33.53 and a 52-week high of $55.27.
Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Tuesday, May 1st. The asset manager reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.08). Voya Financial had a positive return on equity of 4.01% and a negative net margin of 25.86%. During the same period in the previous year, the company posted $0.51 EPS. research analysts expect that Voya Financial Inc will post 4.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Investors of record on Tuesday, May 29th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, May 25th. This represents a $0.04 dividend on an annualized basis and a yield of 0.07%. Voya Financial’s dividend payout ratio is presently 1.33%.
Voya Financial declared that its board has initiated a share repurchase program on Tuesday, February 13th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In other news, insider Charles P. Nelson purchased 13,900 shares of the company’s stock in a transaction that occurred on Wednesday, May 2nd. The shares were purchased at an average price of $50.25 per share, for a total transaction of $698,475.00. Following the purchase, the insider now directly owns 45,382 shares of the company’s stock, valued at approximately $2,280,445.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kevin D. Silva sold 5,480 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $51.70, for a total value of $283,316.00. Following the transaction, the insider now owns 14,577 shares in the company, valued at approximately $753,630.90. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
About Voya Financial
Voya Financial, Inc operates as a retirement, investment, and insurance company in the United States. It operates through Retirement, Investment Management, Individual Life, and Employee Benefits segments. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual account rollover plans and other retail financial products, as well as financial planning and advisory services.
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