Gator Capital Management LLC lessened its stake in shares of Voya Financial Inc (NYSE:VOYA) by 84.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,125 shares of the asset manager’s stock after selling 45,316 shares during the quarter. Gator Capital Management LLC’s holdings in Voya Financial were worth $410,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Voya Financial by 92.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,104 shares of the asset manager’s stock worth $103,000 after purchasing an additional 1,008 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Voya Financial in the 4th quarter worth approximately $133,000. Advisor Group Inc. lifted its stake in shares of Voya Financial by 171.6% in the 4th quarter. Advisor Group Inc. now owns 4,576 shares of the asset manager’s stock worth $226,000 after purchasing an additional 2,891 shares during the period. Eagle Global Advisors LLC bought a new position in shares of Voya Financial in the 4th quarter worth approximately $247,000. Finally, Focused Wealth Management Inc bought a new position in shares of Voya Financial in the 4th quarter worth approximately $257,000.
Voya Financial opened at $53.98 on Wednesday, according to Marketbeat.com. Voya Financial Inc has a 12 month low of $33.53 and a 12 month high of $55.27. The company has a market cap of $9.11 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 0.81 and a beta of 1.53. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.50.
Voya Financial announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 13th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Tuesday, May 29th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date is Friday, May 25th. Voya Financial’s dividend payout ratio (DPR) is currently 1.33%.
In other Voya Financial news, insider Kevin D. Silva sold 895 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $50.77, for a total transaction of $45,439.15. Following the completion of the sale, the insider now directly owns 9,299 shares of the company’s stock, valued at approximately $472,110.23. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Charles P. Nelson acquired 13,900 shares of the business’s stock in a transaction on Wednesday, May 2nd. The shares were bought at an average cost of $50.25 per share, with a total value of $698,475.00. Following the completion of the acquisition, the insider now owns 45,382 shares in the company, valued at $2,280,445.50. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Credit Suisse Group assumed coverage on shares of Voya Financial in a research note on Wednesday, April 25th. They issued an “outperform” rating and a $60.00 price objective on the stock. ValuEngine upgraded shares of Voya Financial from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Morgan Stanley raised their target price on shares of Voya Financial from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 2nd. Deutsche Bank raised their target price on shares of Voya Financial from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, April 17th. Finally, Wells Fargo & Co set a $62.00 target price on shares of Voya Financial and gave the stock a “buy” rating in a research note on Tuesday, May 1st. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $58.50.
About Voya Financial
Voya Financial, Inc operates as a retirement, investment, and insurance company in the United States. It operates through Retirement, Investment Management, Individual Life, and Employee Benefits segments. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual account rollover plans and other retail financial products, as well as financial planning and advisory services.
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