Castleark Management LLC acquired a new stake in Voya Financial Inc (NYSE:VOYA) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 108,395 shares of the asset manager’s stock, valued at approximately $5,362,000. Castleark Management LLC owned 0.06% of Voya Financial at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in VOYA. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Voya Financial by 92.0% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,104 shares of the asset manager’s stock worth $103,000 after buying an additional 1,008 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Voya Financial during the 4th quarter worth about $133,000. Advisor Group Inc. boosted its holdings in shares of Voya Financial by 171.6% during the 4th quarter. Advisor Group Inc. now owns 4,576 shares of the asset manager’s stock worth $226,000 after buying an additional 2,891 shares during the period. Eagle Global Advisors LLC bought a new stake in shares of Voya Financial during the 4th quarter worth about $247,000. Finally, IFM Investors Pty Ltd bought a new stake in shares of Voya Financial during the 3rd quarter worth about $254,000.
Several analysts recently commented on the stock. SunTrust Banks lifted their target price on shares of Voya Financial to $54.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. BTIG Research reaffirmed a “buy” rating and set a $59.00 target price on shares of Voya Financial in a report on Tuesday, January 2nd. Wells Fargo reaffirmed a “buy” rating on shares of Voya Financial in a report on Wednesday, February 21st. Royal Bank of Canada reaffirmed a “buy” rating and set a $55.00 target price on shares of Voya Financial in a report on Friday, December 22nd. Finally, Evercore ISI raised shares of Voya Financial from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $47.00 to $60.00 in a report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. Voya Financial currently has a consensus rating of “Buy” and a consensus price target of $55.00.
Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, February 13th. The asset manager reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.17. The firm had revenue of $2.19 billion during the quarter. Voya Financial had a negative net margin of 31.38% and a positive return on equity of 3.90%. equities research analysts expect that Voya Financial Inc will post 4.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, February 28th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date of this dividend is Tuesday, February 27th. Voya Financial’s dividend payout ratio is currently -0.24%.
Voya Financial declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 13th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, insider Kevin D. Silva sold 895 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $50.77, for a total value of $45,439.15. Following the completion of the transaction, the insider now directly owns 9,299 shares in the company, valued at approximately $472,110.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin D. Silva sold 5,480 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $51.70, for a total transaction of $283,316.00. Following the completion of the transaction, the insider now owns 14,577 shares of the company’s stock, valued at $753,630.90. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.
Voya Financial Profile
Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.
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