Voya Financial Inc (VOYA) Shares Sold by American International Group Inc.
American International Group Inc. reduced its stake in Voya Financial Inc (NYSE:VOYA) by 35.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,253 shares of the asset manager’s stock after selling 4,058 shares during the period. American International Group Inc.’s holdings in Voya Financial were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. State of Wisconsin Investment Board boosted its position in Voya Financial by 25.9% during the 2nd quarter. State of Wisconsin Investment Board now owns 156,435 shares of the asset manager’s stock worth $5,771,000 after buying an additional 32,150 shares during the period. SG Americas Securities LLC acquired a new stake in Voya Financial during the 2nd quarter worth approximately $761,000. Legal & General Group Plc boosted its position in Voya Financial by 1.7% during the 2nd quarter. Legal & General Group Plc now owns 1,151,379 shares of the asset manager’s stock worth $42,541,000 after buying an additional 19,579 shares during the period. Marshall Wace North America L.P. boosted its position in Voya Financial by 387.0% during the 2nd quarter. Marshall Wace North America L.P. now owns 54,242 shares of the asset manager’s stock worth $2,007,000 after buying an additional 43,105 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its holdings in Voya Financial by 8.8% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 238,126 shares of the asset manager’s stock worth $8,784,000 after purchasing an additional 19,240 shares during the last quarter. Institutional investors own 96.79% of the company’s stock.
Several research firms have issued reports on VOYA. Royal Bank of Canada restated a “buy” rating and set a $55.00 price target on shares of Voya Financial in a report on Friday. Wells Fargo & Co restated a “buy” rating and set a $58.00 price target on shares of Voya Financial in a report on Friday. Evercore ISI upgraded shares of Voya Financial from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $47.00 to $60.00 in a report on Thursday. Keefe, Bruyette & Woods restated a “buy” rating and set a $55.00 price target on shares of Voya Financial in a report on Thursday. Finally, Sandler O’Neill upgraded shares of Voya Financial from a “hold” rating to a “buy” rating in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $50.36.
Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, October 31st. The asset manager reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.39). The company had revenue of $226.50 million during the quarter, compared to the consensus estimate of $322.92 million. Voya Financial had a negative net margin of 3.64% and a positive return on equity of 3.92%. During the same quarter in the prior year, the firm earned ($1.24) EPS. sell-side analysts forecast that Voya Financial Inc will post 3 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.04 annualized dividend and a dividend yield of 0.08%. Voya Financial’s dividend payout ratio is currently -2.25%.
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About Voya Financial
Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.
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