Corient Private Wealth LP Invests $2.66 Million in Voya Financial, Inc. $VOYA

Corient Private Wealth LP purchased a new position in Voya Financial, Inc. (NYSE:VOYA) in the second quarter, Holdings Channel reports. The fund purchased 29,430 shares of the asset manager’s stock, valued at approximately $2,664,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in Voya Financial in the second quarter valued at about $850,187,000. Bank of New York Mellon Corp bought a new position in Voya Financial during the 2nd quarter worth approximately $520,280,000. Pzena Investment Management LLC acquired a new position in shares of Voya Financial in the 2nd quarter worth approximately $319,539,000. Verdad Advisers LP bought a new stake in shares of Voya Financial in the 4th quarter valued at approximately $148,980,000. Finally, Norges Bank bought a new stake in shares of Voya Financial in the 4th quarter valued at approximately $83,106,000. 96.10% of the stock is currently owned by institutional investors and hedge funds.

Voya Financial Trading Down 0.1%

Shares of NYSE VOYA opened at $101.22 on Wednesday. The company has a market cap of $9.17 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 0.98 and a beta of 0.90. Voya Financial, Inc. has a 12-month low of $64.50 and a 12-month high of $103.85. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $98.12 and its 200 day simple moving average is $84.06.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, August 4th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.47). The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.90 billion. Voya Financial had a net margin of 7.45% and a return on equity of 12.31%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.66 EPS. Equities research analysts expect that Voya Financial, Inc. will post 9.25 EPS for the current year.

Voya Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Wednesday, August 26th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $1.88 annualized dividend and a dividend yield of 1.9%. Voya Financial’s payout ratio is 31.70%.

Analysts Set New Price Targets

VOYA has been the topic of several research analyst reports. Evercore restated an “outperform” rating and set a $111.00 price objective on shares of Voya Financial in a research note on Friday, August 7th. UBS Group boosted their target price on shares of Voya Financial from $95.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Weiss Ratings cut shares of Voya Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Raymond James Financial upgraded shares of Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 price target on the stock in a research report on Monday, June 8th. Finally, Jefferies Financial Group lifted their price target on shares of Voya Financial from $80.00 to $85.00 and gave the company a “hold” rating in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.85.

Insider Activity

In other news, insider Trevor Ogle sold 3,994 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $90.00, for a total transaction of $359,460.00. Following the completion of the transaction, the insider owned 2,887 shares in the company, valued at approximately $259,830. This represents a 58.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.57% of the company’s stock.

Voya Financial 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.