Summit Investment Advisors Inc. Cuts Position in Voya Financial, Inc. (NYSE:VOYA)

Summit Investment Advisors Inc. decreased its position in shares of Voya Financial, Inc. (NYSE:VOYA) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,272 shares of the asset manager’s stock after selling 900 shares during the period. Summit Investment Advisors Inc.’s holdings in Voya Financial were worth $1,326,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in shares of Voya Financial by 81.0% during the 4th quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 183 shares during the last quarter. SRS Capital Advisors Inc. grew its position in Voya Financial by 207.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 485 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 327 shares during the last quarter. R Squared Ltd purchased a new position in shares of Voya Financial during the fourth quarter worth approximately $41,000. Venturi Wealth Management LLC lifted its holdings in shares of 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 boosted its stake in shares of Voya Financial by 17.0% in the 4th quarter. Brooklyn Investment Group now owns 1,166 shares of the asset manager’s stock valued at $80,000 after purchasing an additional 169 shares in the last quarter. Institutional investors own 96.10% of the company’s stock.

Analyst Ratings Changes

VOYA has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Voya Financial from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Keefe, Bruyette & Woods dropped their target price on Voya Financial from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Piper Sandler decreased their price target on Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Bank of America reiterated an “underperform” rating and issued a $71.00 price objective (down previously from $79.00) on shares of Voya Financial in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. cut their target price on shares of Voya Financial from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $80.92.

Voya Financial Trading Down 2.0 %

NYSE:VOYA opened at $56.54 on Thursday. The company has a 50-day moving average price of $67.15 and a 200-day moving average price of $72.68. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 9.24, a P/E/G ratio of 0.48 and a beta of 0.93. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59. Voya Financial, Inc. has a 12 month low of $52.43 and a 12 month high of $84.30.

Voya Financial (NYSE:VOYA) last issued 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%. Equities analysts predict that Voya Financial, Inc. will post 8.39 EPS for the current year.

Voya Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, February 25th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.80 annualized dividend and a dividend yield of 3.18%. Voya Financial’s dividend payout ratio is presently 29.41%.

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.