State of Tennessee Department of Treasury Cuts Stock Position in Voya Financial, Inc. (NYSE:VOYA)

State of Tennessee Department of Treasury trimmed its stake in shares of Voya Financial, Inc. (NYSE:VOYA) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,452 shares of the asset manager’s stock after selling 1,141 shares during the period. State of Tennessee Department of Treasury’s holdings in Voya Financial were worth $2,784,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of VOYA. Tower Research Capital LLC TRC raised its position in shares of Voya Financial by 218.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,424 shares of the asset manager’s stock worth $580,000 after purchasing an additional 5,782 shares during the last quarter. Mirova purchased a new stake in Voya Financial during the 4th quarter worth approximately $292,000. MetLife Investment Management LLC increased its stake in Voya Financial by 6.7% during the 4th quarter. MetLife Investment Management LLC now owns 54,275 shares of the asset manager’s stock worth $3,736,000 after buying an additional 3,404 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Voya Financial by 52.9% during the fourth quarter. First Trust Advisors LP now owns 1,437,597 shares of the asset manager’s stock valued at $98,950,000 after acquiring an additional 497,348 shares during the last quarter. Finally, GeoWealth Management LLC lifted its position in shares of Voya Financial by 446.7% in the fourth quarter. GeoWealth Management LLC now owns 1,591 shares of the asset manager’s stock valued at $110,000 after acquiring an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.

Voya Financial Trading Down 0.1 %

Shares of Voya Financial stock opened at $59.00 on Monday. The stock has a 50 day moving average of $64.78 and a 200 day moving average of $71.53. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.31 and a current ratio of 0.30. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 0.48 and a beta of 0.93. Voya Financial, Inc. has a fifty-two week low of $52.43 and a fifty-two week high of $84.30.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.65). Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. As a group, research analysts predict that Voya Financial, Inc. will post 8.39 earnings per share for the current year.

Voya Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Tuesday, February 25th. Voya Financial’s dividend payout ratio is presently 29.41%.

Analyst Upgrades and Downgrades

VOYA has been the subject of several recent research reports. Bank of America reissued an “underperform” rating and issued a $71.00 price objective (down from $79.00) on shares of Voya Financial in a research note on Friday, March 28th. Morgan Stanley upgraded shares of Voya Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $76.00 to $87.00 in a research report on Friday, February 28th. Royal Bank of Canada lowered their price target on shares of Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. UBS Group cut their price objective on shares of Voya Financial from $94.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, Barclays lowered their target price on Voya Financial from $75.00 to $66.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $80.92.

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.