Tocqueville Asset Management L.P. Makes New $1.76 Million Investment in Voya Financial, Inc. $VOYA

Tocqueville Asset Management L.P. bought a new position in shares of Voya Financial, Inc. (NYSE:VOYA) during the 2nd quarter, HoldingsChannel reports. The fund bought 19,500 shares of the asset manager’s stock, valued at approximately $1,765,000.

A number of other large investors have also made changes to their positions in VOYA. Royal Bank of Canada increased its holdings in shares of Voya Financial by 21.7% in the first quarter. Royal Bank of Canada now owns 84,715 shares of the asset manager’s stock valued at $5,741,000 after purchasing an additional 15,091 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Voya Financial by 8.4% during the first quarter. Goldman Sachs Group Inc. now owns 662,058 shares of the asset manager’s stock worth $44,861,000 after buying an additional 51,376 shares during the last quarter. Empowered Funds LLC boosted its stake in Voya Financial by 13.5% during the first quarter. Empowered Funds LLC now owns 37,836 shares of the asset manager’s stock worth $2,564,000 after buying an additional 4,490 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Voya Financial by 1.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,144 shares of the asset manager’s stock valued at $25,081,000 after buying an additional 6,127 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Voya Financial by 44.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock valued at $49,000 after buying an additional 223 shares in the last quarter. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VOYA has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on Voya Financial from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Atlantic Securities set a $79.00 price target on shares of Voya Financial in a research report on Wednesday, July 15th. Morgan Stanley upped their price objective on shares of Voya Financial from $84.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Keefe, Bruyette & Woods raised their price objective on shares of Voya Financial from $109.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada lifted their target price on shares of Voya Financial from $107.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.85.

Insider Buying and Selling

In other Voya Financial news, insider Trevor Ogle sold 3,994 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $90.00, for a total value of $359,460.00. Following the transaction, the insider owned 2,887 shares of the company’s stock, valued at $259,830. This represents a 58.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by insiders.

Voya Financial Price Performance

VOYA stock opened at $97.67 on Friday. Voya Financial, Inc. has a 52-week low of $64.50 and a 52-week high of $103.85. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.51. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89. The business has a fifty day moving average of $96.60 and a two-hundred day moving average of $82.64.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.47). The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.90 billion. Voya Financial had a net margin of 7.45% and a return on equity of 12.31%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the company earned $1.66 EPS. As a group, research analysts anticipate that Voya Financial, Inc. will post 9.27 earnings per share for the current year.

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Wednesday, August 26th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, August 26th. Voya Financial’s payout ratio is 31.70%.

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.