Oppenheimer Asset Management Inc. Has $1.53 Million Stake in Voya Financial, Inc. (NYSE:VOYA)

Oppenheimer Asset Management Inc. increased its stake in shares of Voya Financial, Inc. (NYSE:VOYA) by 19.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,490 shares of the asset manager’s stock after buying an additional 3,433 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Voya Financial were worth $1,529,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SYSTM Wealth Solutions LLC boosted its position in shares of Voya Financial by 56.2% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock worth $31,000 after acquiring an additional 149 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new stake in shares of Voya Financial in the 1st quarter valued at $43,000. Allspring Global Investments Holdings LLC increased its stake in shares of Voya Financial by 6,850.0% in the 1st 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 last quarter. Mather Group LLC. acquired a new position in shares of Voya Financial during the 1st quarter worth $85,000. Finally, GAMMA Investing LLC lifted its position in shares of Voya Financial by 70.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,297 shares of the asset manager’s stock worth $92,000 after buying an additional 538 shares during the last quarter. Institutional investors own 96.10% of the company’s stock.

Voya Financial Stock Performance

Shares of Voya Financial stock opened at $76.78 on Thursday. The business has a 50-day moving average price of $70.26 and a two-hundred day moving average price of $71.13. Voya Financial, Inc. has a 1-year low of $63.02 and a 1-year high of $77.53. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. The company has a market cap of $7.55 billion, a P/E ratio of 10.91, a PEG ratio of 0.56 and a beta of 1.03.

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

Voya Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $0.45 per share. This is an increase from Voya Financial’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 27th. This represents a $1.80 annualized dividend and a dividend yield of 2.34%. Voya Financial’s payout ratio is currently 25.57%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JPMorgan Chase & Co. lowered their target price on Voya Financial from $88.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Barclays started coverage on shares of Voya Financial in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $84.00 price objective for the company. Bank of America boosted their target price 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. Evercore ISI upped their price target on shares of Voya Financial from $79.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Finally, Wells Fargo & Company cut their price objective on Voya Financial from $91.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.64.

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.