Cornercap Investment Counsel Inc. Cuts Position in Voya Financial, Inc. (NYSE:VOYA)

Cornercap Investment Counsel Inc. decreased its position in Voya Financial, Inc. (NYSE:VOYA) by 56.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,029 shares of the asset manager’s stock after selling 9,102 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Voya Financial were worth $557,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Voya Financial in the third quarter worth $29,000. UMB Bank n.a. grew its stake in shares of Voya Financial by 118.9% in the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after acquiring an additional 239 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Voya Financial by 3,640.9% in the third quarter. Blue Trust Inc. now owns 823 shares of the asset manager’s stock worth $65,000 after acquiring an additional 801 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of 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 worth $62,000 after acquiring an additional 822 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Voya Financial in the second quarter worth $61,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Price Performance

VOYA stock opened at $81.43 on Friday. The firm has a 50 day moving average of $79.32 and a 200-day moving average of $74.18. Voya Financial, Inc. has a 12-month low of $63.11 and a 12-month high of $84.30. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 0.58 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.07. Voya Financial had a net margin of 8.81% and a return on equity of 15.09%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm earned $2.07 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities analysts expect that Voya Financial, Inc. will post 8.2 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, November 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. Voya Financial’s payout ratio is 28.66%.

Insider Activity

In related news, insider Tony D. Oh sold 715 shares of Voya Financial stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total transaction of $58,594.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Piper Sandler boosted their price target on shares of Voya Financial from $88.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Raymond James cut Voya Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, September 13th. Bank of America raised their price target on Voya Financial from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Evercore ISI raised their price target on Voya Financial from $79.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Finally, Citigroup raised their price target on Voya Financial from $86.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Voya Financial currently has an average rating of “Moderate Buy” and an average price target of $86.00.

Voya Financial Company 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.