The Manufacturers Life Insurance Company Makes New $5.72 Million Investment in Voya Financial, Inc. $VOYA

The Manufacturers Life Insurance Company purchased a new stake in shares of Voya Financial, Inc. (NYSE:VOYA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 63,208 shares of the asset manager’s stock, valued at approximately $5,722,000. The Manufacturers Life Insurance Company owned 0.07% of Voya Financial at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Voya Financial during the second quarter valued at $850,187,000. Bank of New York Mellon Corp acquired a new stake in Voya Financial during the 2nd quarter worth about $520,280,000. Pzena Investment Management LLC purchased a new position in Voya Financial during the 2nd quarter valued at about $319,539,000. Verdad Advisers LP purchased a new position in Voya Financial during the 4th quarter valued at about $148,980,000. Finally, Norges Bank acquired a new position in shares of Voya Financial in the 4th quarter valued at about $83,106,000. Institutional investors and hedge funds own 96.10% of the company’s stock.

Voya Financial Trading Down 1.2%

Shares of NYSE VOYA opened at $101.37 on Tuesday. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 0.99 and a beta of 0.89. The business has a 50 day simple moving average of $97.94 and a 200 day simple moving average of $83.88. Voya Financial, Inc. has a 52 week low of $64.50 and a 52 week high of $103.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.27 and a current ratio of 0.27.

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

Voya Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Wednesday, August 26th will be paid a dividend of $0.47 per share. The ex-dividend date is Wednesday, August 26th. This represents a $1.88 annualized dividend and a dividend yield of 1.9%. Voya Financial’s dividend payout ratio is 31.70%.

Analyst Ratings Changes

Several analysts recently commented on VOYA shares. Morgan Stanley raised their price target on shares of Voya Financial from $92.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, August 24th. JPMorgan Chase & Co. upped their price objective on shares of Voya Financial from $105.00 to $109.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods increased their target price on shares of Voya Financial from $109.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Evercore reissued an “outperform” rating and set a $111.00 target price on shares of Voya Financial in a research note on Friday, August 7th. Finally, Jefferies Financial Group boosted their price target 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. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.85.

Insider Buying and Selling at Voya Financial

In other news, insider Trevor Ogle sold 3,994 shares of the firm’s stock in a transaction 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 owned 2,887 shares in the company, valued at approximately $259,830. This trade represents a 58.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.57% of the company’s stock.

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.