Kennedy Capital Management LLC Grows Stock Holdings in Voya Financial, Inc. (NYSE:VOYA)

Kennedy Capital Management LLC increased its stake in shares of Voya Financial, Inc. (NYSE:VOYA) by 5.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,310 shares of the asset manager’s stock after buying an additional 2,659 shares during the quarter. Kennedy Capital Management LLC’s holdings in Voya Financial were worth $3,645,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SYSTM Wealth Solutions LLC lifted its position in Voya Financial by 56.2% in the first quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 149 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in Voya Financial in the first quarter valued at about $43,000. Venturi Wealth Management LLC lifted its position in Voya Financial by 213.2% in the first quarter. Venturi Wealth Management LLC now owns 595 shares of the asset manager’s stock valued at $44,000 after purchasing an additional 405 shares during the period. GAMMA Investing LLC acquired a new stake in Voya Financial in the fourth quarter valued at about $49,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Voya Financial by 6,850.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 822 shares during the period. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Trading Up 0.9 %

VOYA stock traded up $0.68 during midday trading on Tuesday, hitting $74.31. The stock had a trading volume of 1,029,086 shares, compared to its average volume of 829,107. The firm has a market cap of $7.48 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 0.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.30 and a quick ratio of 0.30. Voya Financial, Inc. has a 12-month low of $63.02 and a 12-month high of $76.75. The company’s 50-day moving average price is $72.76 and its 200 day moving average price is $71.29.

Voya Financial (NYSE:VOYA) last released its earnings results on Tuesday, April 30th. The asset manager reported $1.88 EPS for the quarter, topping the consensus estimate of $1.58 by $0.30. Voya Financial had a net margin of 10.48% and a return on equity of 16.74%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the company earned $1.69 EPS. Voya Financial’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities research analysts predict that Voya Financial, Inc. will post 8.42 earnings per share for the current fiscal year.

Voya Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This is a boost from Voya Financial’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.42%. Voya Financial’s payout ratio is currently 22.73%.

Analysts Set New Price Targets

VOYA has been the subject of a number of research reports. Piper Sandler lifted their price target on shares of Voya Financial from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Jefferies Financial Group lifted their price target on shares of Voya Financial from $78.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Evercore ISI lifted their price target on shares of Voya Financial from $79.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Bank of America lifted their price target on shares of Voya Financial from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company lifted their price target on shares of Voya Financial from $91.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Voya Financial has an average rating of “Moderate Buy” and an average target price of $84.30.

Insider Activity

In related news, Director Yvette S. Butler sold 2,165 shares of Voya Financial stock in a transaction on Friday, May 24th. The shares were sold at an average price of $73.78, for a total transaction of $159,733.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

About Voya Financial

Voya Financial, Inc engages in the provision of workplace benefits and savings products in the United States and internationally. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees.