Norges Bank Takes $83.11 Million Position in Voya Financial, Inc. $VOYA

Norges Bank purchased a new stake in shares of Voya Financial, Inc. (NYSE:VOYA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,115,667 shares of the asset manager’s stock, valued at approximately $83,106,000. Norges Bank owned approximately 1.17% of Voya Financial at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of VOYA. Allworth Financial LP grew its holdings in shares of Voya Financial by 75.5% during the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock valued at $26,000 after buying an additional 151 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Voya Financial during the fourth quarter valued at $33,000. Systematic Financial Management LP purchased a new position in Voya Financial in the fourth quarter valued at about $37,000. EverSource Wealth Advisors LLC grew its stake in Voya Financial by 625.0% in the second quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 475 shares in the last quarter. Finally, Rothschild Investment LLC grew its stake in Voya Financial by 5,180.0% in the third quarter. Rothschild Investment LLC now owns 528 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 518 shares in the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Price Performance

Shares of NYSE:VOYA opened at $86.76 on Friday. Voya Financial, Inc. has a fifty-two week low of $64.50 and a fifty-two week high of $87.17. The business has a 50-day moving average of $77.14 and a two-hundred day moving average of $74.25. The stock has a market capitalization of $7.87 billion, a P/E ratio of 13.11, a P/E/G ratio of 0.76 and a beta of 0.92. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.27 and a quick ratio of 0.27.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.24. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the firm earned $2.00 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts predict that Voya Financial, Inc. will post 9.56 EPS for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Tuesday, May 26th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, May 26th. Voya Financial’s payout ratio is currently 28.40%.

Wall Street Analysts Forecast Growth

VOYA has been the topic of a number of recent research reports. Bank of America lowered their target price on Voya Financial from $72.00 to $70.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 14th. TD Cowen initiated coverage on Voya Financial in a research note on Monday, April 20th. They issued a “buy” rating and a $100.00 target price on the stock. Keefe, Bruyette & Woods lowered their target price on Voya Financial from $82.00 to $81.00 and set an “outperform” rating on the stock in a research note on Friday, April 10th. Wells Fargo & Company boosted their target price on Voya Financial from $80.00 to $89.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Finally, Barclays boosted their target price on Voya Financial from $89.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.20.

Voya Financial Company 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.