Redwood Investment Management LLC Makes New Investment in Voya Financial, Inc. $VOYA

Redwood Investment Management LLC bought a new position in shares of Voya Financial, Inc. (NYSE:VOYA) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 12,905 shares of the asset manager’s stock, valued at approximately $1,168,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Corient Private Wealth LP purchased a new stake in shares of Voya Financial during the second quarter valued at $2,664,000. Bank of America Corp DE purchased a new position in Voya Financial in the 2nd quarter worth about $34,060,000. Basswood Capital Management L.L.C. purchased a new position in Voya Financial in the 2nd quarter worth about $10,548,000. Freestone Grove Partners LP bought a new stake in Voya Financial during the 2nd quarter valued at about $16,964,000. Finally, Sculptor Capital LP bought a new stake in Voya Financial during the 2nd quarter valued at about $30,237,000. 96.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Voya Financial news, insider Trevor Ogle sold 3,994 shares of Voya Financial stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $90.00, for a total value of $359,460.00. Following the transaction, the insider owned 2,887 shares in the company, valued at $259,830. The trade was a 58.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on VOYA shares. Atlantic Securities set a $79.00 target price on shares of Voya Financial in a research note on Wednesday, July 15th. UBS Group lifted their price target on shares of Voya Financial from $95.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Royal Bank Of Canada lifted their price target on shares of Voya Financial from $107.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods increased their price objective on Voya Financial from $109.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Finally, Barclays raised their price objective on Voya Financial from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Voya Financial currently has an average rating of “Moderate Buy” and a consensus price target of $103.85.

Voya Financial Stock Up 1.1%

Voya Financial stock opened at $101.62 on Thursday. The business has a fifty day moving average of $97.30 and a two-hundred day moving average of $83.35. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.51. The firm has a market cap of $9.21 billion, a P/E ratio of 17.14, a P/E/G ratio of 0.97 and a beta of 0.89. Voya Financial, Inc. has a twelve month low of $64.50 and a twelve month high of $103.85.

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

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Wednesday, August 26th will be given 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 yield of 1.9%. Voya Financial’s dividend payout ratio (DPR) is presently 31.70%.

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.