Corsair Capital Management L.P. Sells 7,500 Shares of Voya Financial, Inc. $VOYA

Corsair Capital Management L.P. cut its stake in shares of Voya Financial, Inc. (NYSE:VOYA) by 20.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 29,837 shares of the asset manager’s stock after selling 7,500 shares during the quarter. Voya Financial accounts for 0.3% of Corsair Capital Management L.P.’s investment portfolio, making the stock its 24th biggest position. Corsair Capital Management L.P.’s holdings in Voya Financial were worth $2,038,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Verdad Advisers LP acquired a new position in shares of Voya Financial during the 4th quarter worth approximately $148,980,000. Norges Bank acquired a new stake in shares of Voya Financial in the 4th quarter valued at approximately $83,106,000. Millennium Management LLC boosted its holdings in shares of Voya Financial by 135.7% in the 3rd quarter. Millennium Management LLC now owns 1,084,747 shares of the asset manager’s stock valued at $81,139,000 after buying an additional 624,436 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Voya Financial by 63.0% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,431,835 shares of the asset manager’s stock valued at $107,101,000 after buying an additional 553,675 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Voya Financial by 11.6% during the third quarter. Wellington Management Group LLP now owns 4,262,031 shares of the asset manager’s stock worth $318,800,000 after buying an additional 444,059 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on VOYA shares. Royal Bank Of Canada increased their price target on shares of Voya Financial from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday. Atlantic Securities set a $79.00 price objective on shares of Voya Financial in a research note on Wednesday, July 15th. Jefferies Financial Group upped their target price on shares of Voya Financial from $80.00 to $85.00 and gave the company a “hold” rating in a report on Friday, July 10th. Raymond James Financial upgraded shares of Voya Financial from a “market perform” rating to a “strong-buy” rating and set a $117.00 target price for the company in a research note on Monday, June 8th. Finally, Keefe, Bruyette & Woods lifted their price target on Voya Financial from $92.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.15.

Insider Activity

In other news, insider Trevor Ogle sold 3,994 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $259,830. This trade represents a 58.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is currently owned by insiders.

Voya Financial Trading Up 0.0%

Shares of Voya Financial stock opened at $98.60 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a 50-day moving average of $90.43 and a 200-day moving average of $79.51. Voya Financial, Inc. has a 52-week low of $64.50 and a 52-week high of $103.85. The stock has a market cap of $8.94 billion, a PE ratio of 14.89, a PEG ratio of 0.91 and a beta of 0.91.

Voya Financial (NYSE:VOYA) last released its quarterly earnings results on Tuesday, May 5th. The asset manager reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.24. Voya Financial had a net margin of 8.24% and a return on equity of 13.84%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the firm earned $2.00 earnings per share. Voya Financial’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Voya Financial, Inc. will post 9.32 EPS for the current year.

Voya Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, May 26th. Voya Financial’s dividend payout ratio is presently 28.40%.

Voya Financial Profile

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.