D. E. Shaw & Co. Inc. cut its stake in shares of Voya Financial Inc (NYSE:VOYA) by 55.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,031,821 shares of the asset manager’s stock after selling 1,291,311 shares during the period. D. E. Shaw & Co. Inc. owned about 0.66% of Voya Financial worth $41,417,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Doyle Wealth Management purchased a new stake in Voya Financial during the 4th quarter valued at $35,000. Lindbrook Capital LLC purchased a new stake in Voya Financial during the 4th quarter valued at $37,000. Essex Savings Bank purchased a new stake in Voya Financial during the 4th quarter valued at $42,000. First Mercantile Trust Co. raised its stake in Voya Financial by 95.5% during the 4th quarter. First Mercantile Trust Co. now owns 1,310 shares of the asset manager’s stock valued at $52,000 after buying an additional 640 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in Voya Financial during the 4th quarter valued at $83,000.
Several research firms have recently commented on VOYA. JPMorgan Chase & Co. reduced their price objective on Voya Financial from $53.00 to $52.00 and set an “underweight” rating for the company in a research note on Wednesday, January 2nd. Credit Suisse Group set a $59.00 price objective on Voya Financial and gave the stock a “buy” rating in a research note on Friday, January 25th. ValuEngine upgraded Voya Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Finally, Goldman Sachs Group upgraded Voya Financial from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $60.00 to $54.00 in a research note on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Voya Financial currently has a consensus rating of “Buy” and a consensus price target of $57.78.
Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, February 5th. The asset manager reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.10. Voya Financial had a net margin of 10.28% and a return on equity of 8.04%. During the same period in the prior year, the company posted $0.87 earnings per share. Sell-side analysts expect that Voya Financial Inc will post 5.3 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 27th. Investors of record on Thursday, February 28th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.08%. The ex-dividend date is Wednesday, February 27th. Voya Financial’s dividend payout ratio is currently 0.99%.
In related news, insider Chetlur S. Ragavan sold 13,713 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $48.15, for a total value of $660,280.95. Following the completion of the transaction, the insider now owns 57,595 shares of the company’s stock, valued at approximately $2,773,199.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph V. Tripodi bought 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The stock was purchased at an average cost of $49.45 per share, with a total value of $74,175.00. Following the acquisition, the director now directly owns 3,500 shares in the company, valued at approximately $173,075. The disclosure for this purchase can be found here. Insiders sold a total of 23,911 shares of company stock valued at $1,175,087 in the last ninety days. 0.36% of the stock is currently owned by insiders.
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About Voya Financial
Voya Financial, Inc operates as a retirement, investment, and insurance company in the United States. It operates through Retirement, Investment Management, Individual Life, and Employee Benefits segments. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual account rollover plans and other retail financial products, as well as financial planning and advisory services.
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