Corsair Capital Management L.P. Sells 7,500 Shares of Voya Financial, Inc. $VOYA

Corsair Capital Management L.P. cut its stake in shares of Voya Financial, Inc. (NYSE:VOYA) by 20.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,837 shares of the asset manager’s stock after selling 7,500 shares during the period. Voya Financial makes up approximately 0.3% of Corsair Capital Management L.P.’s investment portfolio, making the stock its 24th largest holding. Corsair Capital Management L.P.’s holdings in Voya Financial were worth $2,038,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in Voya Financial by 75.5% in the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock valued at $26,000 after buying an additional 151 shares during the period. Atlas Capital Advisors Inc. acquired a new position in shares of Voya Financial during the 4th quarter worth about $28,000. V Square Quantitative Management LLC bought a new stake in shares of Voya Financial in the 4th quarter valued at about $33,000. Systematic Financial Management LP bought a new stake in shares of Voya Financial in the 4th quarter valued at about $37,000. Finally, Root Financial Partners LLC raised its position in shares of Voya Financial by 59.6% in the 1st quarter. Root Financial Partners LLC now owns 573 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 214 shares during the period. Institutional investors own 96.10% of the company’s stock.

Voya Financial Stock Up 0.0%

VOYA stock opened at $98.60 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market capitalization of $8.94 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.91 and a beta of 0.91. Voya Financial, Inc. has a fifty-two week low of $64.50 and a fifty-two week high of $103.85. The business has a 50-day moving average of $90.43 and a 200-day moving average of $79.51.

Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.24. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.98 billion. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.Voya Financial’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.00 EPS. On average, sell-side analysts anticipate that Voya Financial, Inc. will post 9.32 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, May 26th were issued a $0.47 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.9%. Voya Financial’s dividend payout ratio (DPR) is 28.40%.

Insider Activity

In other news, insider Trevor Ogle sold 3,994 shares of Voya Financial stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $90.00, for a total value of $359,460.00. Following the sale, the insider directly owned 2,887 shares in the company, valued at $259,830. This trade represents a 58.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on VOYA shares. Weiss Ratings raised shares of Voya Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 5th. Raymond James Financial upgraded shares of Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 target price on the stock in a report on Monday, June 8th. Keefe, Bruyette & Woods lifted their price target on shares of Voya Financial from $92.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Atlantic Securities set a $79.00 price target on shares of Voya Financial in a report on Wednesday, July 15th. Finally, UBS Group boosted their price target on shares of Voya Financial from $95.00 to $125.00 and gave the company a “buy” rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Voya Financial presently has an average rating of “Moderate Buy” and a consensus price target of $100.15.

About Voya Financial

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.