Bank of New York Mellon Corp Grows Stake in Voya Financial, Inc. (NYSE:VOYA)

Bank of New York Mellon Corp grew its stake in shares of Voya Financial, Inc. (NYSE:VOYA) by 15.7% in the fourth quarter, Holdings Channel reports. The fund owned 6,472,277 shares of the asset manager’s stock after acquiring an additional 876,399 shares during the quarter. Bank of New York Mellon Corp owned 0.07% of Voya Financial worth $445,487,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of VOYA. Impax Asset Management Group plc lifted its stake in Voya Financial by 277.8% in the fourth quarter. Impax Asset Management Group plc now owns 2,898,785 shares of the asset manager’s stock valued at $199,062,000 after purchasing an additional 2,131,578 shares during the last quarter. FMR LLC raised its stake in shares of Voya Financial by 25.9% in the third quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock valued at $228,474,000 after buying an additional 592,523 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Voya Financial by 1.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,678,016 shares of the asset manager’s stock valued at $212,152,000 after buying an additional 38,438 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of Voya Financial during the 4th quarter worth $47,155,000. Finally, Victory Capital Management Inc. grew its stake in shares of Voya Financial by 12.2% during the 3rd quarter. Victory Capital Management Inc. now owns 316,447 shares of the asset manager’s stock worth $25,069,000 after acquiring an additional 34,413 shares during the period. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Piper Sandler lowered their price target on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Evercore ISI reduced their price target on shares of Voya Financial from $94.00 to $89.00 and set an “outperform” rating for the company in a research report on Tuesday, December 10th. Morgan Stanley lowered their price objective on Voya Financial from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Royal Bank of Canada dropped their price objective on Voya Financial from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods decreased their target price on Voya Financial from $90.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $82.55.

Voya Financial Price Performance

Shares of Voya Financial stock opened at $70.54 on Wednesday. The firm has a market capitalization of $6.79 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 0.48 and a beta of 1.05. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59. Voya Financial, Inc. has a 12 month low of $64.10 and a 12 month high of $84.30. The business’s 50-day moving average price is $70.20 and its 200-day moving average price is $74.46.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, February 4th. The asset manager reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. Sell-side analysts forecast that Voya Financial, Inc. will post 8.39 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, February 25th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.55%. The ex-dividend date is Tuesday, February 25th. Voya Financial’s dividend payout ratio is presently 29.41%.

Voya Financial Profile

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.