Westpac Banking Corp Increases Stake in Voya Financial Inc (VOYA)
Westpac Banking Corp grew its holdings in shares of Voya Financial Inc (NYSE:VOYA) by 32.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 99,246 shares of the asset manager’s stock after buying an additional 24,544 shares during the period. Westpac Banking Corp’s holdings in Voya Financial were worth $4,910,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in VOYA. Toronto Dominion Bank raised its position in shares of Voya Financial by 7.9% in the 2nd quarter. Toronto Dominion Bank now owns 2,728 shares of the asset manager’s stock worth $101,000 after purchasing an additional 199 shares during the last quarter. Reliance Trust Co. of Delaware purchased a new position in shares of Voya Financial in the 3rd quarter worth about $215,000. IFM Investors Pty Ltd purchased a new position in shares of Voya Financial in the 3rd quarter worth about $254,000. TLP Group LLC purchased a new position in shares of Voya Financial in the 2nd quarter worth about $262,000. Finally, Stephens Inc. AR purchased a new position in shares of Voya Financial in the 3rd quarter worth about $273,000. Hedge funds and other institutional investors own 96.67% of the company’s stock.
Several equities analysts have recently issued reports on the company. BTIG Research reaffirmed a “buy” rating and issued a $59.00 price target on shares of Voya Financial in a research report on Tuesday, January 2nd. Sandler O’Neill raised Voya Financial from a “hold” rating to a “buy” rating in a research report on Monday, November 13th. Goldman Sachs Group started coverage on Voya Financial in a research report on Wednesday, October 18th. They issued a “buy” rating and a $46.00 target price for the company. Wells Fargo & Co reissued a “buy” rating and issued a $58.00 target price on shares of Voya Financial in a research report on Friday, December 22nd. Finally, BidaskClub lowered Voya Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $52.18.
Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, October 31st. The asset manager reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.39). Voya Financial had a positive return on equity of 3.92% and a negative net margin of 3.64%. The business had revenue of $226.50 million during the quarter, compared to analysts’ expectations of $322.92 million. During the same period last year, the firm posted ($1.24) EPS. equities analysts forecast that Voya Financial Inc will post 2.9 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.07%. The ex-dividend date of this dividend was Wednesday, November 29th. Voya Financial’s payout ratio is currently -2.23%.
Voya Financial Company Profile
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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