Wellington Management Group LLP Lowers Position in Voya Financial, Inc. $VOYA

Wellington Management Group LLP lowered its stake in Voya Financial, Inc. (NYSE:VOYA) by 36.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,885,015 shares of the asset manager’s stock after selling 2,263,935 shares during the quarter. Wellington Management Group LLP owned about 4.29% of Voya Financial worth $351,710,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantinno Capital Management LP increased its stake in shares of Voya Financial by 6.8% in the first quarter. Quantinno Capital Management LP now owns 237,550 shares of the asset manager’s stock worth $16,229,000 after purchasing an additional 15,186 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Voya Financial in the 2nd quarter worth $2,045,000. BlackRock Inc. bought a new stake in Voya Financial during the second quarter valued at about $850,187,000. Fifth Third Bancorp grew its position in shares of Voya Financial by 4,892.7% during the first quarter. Fifth Third Bancorp now owns 63,058 shares of the asset manager’s stock worth $4,308,000 after purchasing an additional 61,795 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Voya Financial during the 2nd quarter valued at approximately $11,372,000. 96.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Voya Financial

In related 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 transaction of $359,460.00. Following the transaction, the insider directly owned 2,887 shares in the company, valued at approximately $259,830. This represents a 58.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.57% of the company’s stock.

Voya Financial Trading Down 0.2%

Shares of NYSE VOYA opened at $102.34 on Monday. The business’s 50 day moving average is $97.76 and its two-hundred day moving average is $83.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.27 and a quick ratio of 0.27. Voya Financial, Inc. has a 1-year low of $64.50 and a 1-year high of $103.85. The stock has a market capitalization of $9.27 billion, a P/E ratio of 17.26, a PEG ratio of 0.99 and a beta of 0.89.

Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.47). Voya Financial had a return on equity of 12.31% and a net margin of 7.45%.The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter last year, the firm posted $1.66 EPS. Voya Financial’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts expect that Voya Financial, Inc. will post 9.25 EPS for the current year.

Voya Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Wednesday, August 26th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.8%. Voya Financial’s payout ratio is currently 31.70%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of Voya Financial from $112.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group boosted their price target on shares of Voya Financial from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Evercore restated an “outperform” rating and set a $111.00 price objective on shares of Voya Financial in a research report on Friday, August 7th. Raymond James Financial raised 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. Finally, Morgan Stanley increased their price target on Voya Financial from $92.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.85.

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.