Amalgamated Bank Cuts Stock Holdings in Voya Financial, Inc. (NYSE:VOYA)

Amalgamated Bank lowered its stake in Voya Financial, Inc. (NYSE:VOYA) by 8.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,148 shares of the asset manager’s stock after selling 6,201 shares during the period. Amalgamated Bank owned approximately 0.06% of Voya Financial worth $4,493,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in Voya Financial by 1,020.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,368,185 shares of the asset manager’s stock worth $175,057,000 after acquiring an additional 2,156,773 shares during the last quarter. Boston Partners grew its stake in shares of Voya Financial by 83.8% in the first quarter. Boston Partners now owns 2,525,604 shares of the asset manager’s stock worth $186,310,000 after purchasing an additional 1,151,822 shares during the last quarter. Norges Bank purchased a new position in Voya Financial during the 4th quarter valued at about $80,749,000. Vanguard Group Inc. raised its position in Voya Financial by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 11,067,291 shares of the asset manager’s stock valued at $818,094,000 after purchasing an additional 644,216 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Voya Financial by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,055,263 shares of the asset manager’s stock worth $146,234,000 after buying an additional 248,795 shares during the period. Institutional investors own 96.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on VOYA shares. Jefferies Financial Group upped their target price on Voya Financial from $78.00 to $80.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Royal Bank of Canada restated an “outperform” rating and issued a $83.00 price objective on shares of Voya Financial in a report on Wednesday, August 7th. Raymond James lowered shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, September 13th. Bank of America increased their price target on shares of Voya Financial from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Barclays initiated coverage on Voya Financial in a research report on Wednesday, September 4th. They set an “overweight” rating and a $84.00 price objective on the stock. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.64.

Voya Financial Stock Down 1.6 %

VOYA stock opened at $76.62 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average of $70.58 and a 200 day moving average of $71.31. Voya Financial, Inc. has a twelve month low of $63.02 and a twelve month high of $78.12. The firm has a market cap of $7.72 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 0.56 and a beta of 1.03.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, July 30th. The asset manager reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.13. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.87 billion. Voya Financial had a return on equity of 16.11% and a net margin of 10.87%. Voya Financial’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.31 EPS. On average, research analysts forecast that Voya Financial, Inc. will post 8.45 EPS for the current fiscal year.

Voya Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, August 27th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Tuesday, August 27th. This is an increase from Voya Financial’s previous quarterly dividend of $0.40. Voya Financial’s dividend payout ratio is currently 25.57%.

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.