Fifth Third Wealth Advisors LLC Reduces Holdings in Voya Financial, Inc. (NYSE:VOYA)

Fifth Third Wealth Advisors LLC reduced its position in shares of Voya Financial, Inc. (NYSE:VOYA) by 35.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,200 shares of the asset manager’s stock after selling 2,318 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Voya Financial were worth $333,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in Voya Financial in the 3rd quarter worth $597,000. Quest Partners LLC acquired a new position in shares of Voya Financial in the third quarter worth about $322,000. Victory Capital Management Inc. boosted its holdings in Voya Financial by 12.2% in the third quarter. Victory Capital Management Inc. now owns 316,447 shares of the asset manager’s stock valued at $25,069,000 after purchasing an additional 34,413 shares during the last quarter. Aigen Investment Management LP grew its stake in Voya Financial by 14.0% during the 3rd quarter. Aigen Investment Management LP now owns 6,533 shares of the asset manager’s stock valued at $518,000 after purchasing an additional 800 shares in the last quarter. Finally, Meritage Portfolio Management raised its position in shares of Voya Financial by 11.2% in the 3rd quarter. Meritage Portfolio Management now owns 8,314 shares of the asset manager’s stock valued at $659,000 after purchasing an additional 837 shares in the last quarter. 96.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Raymond James downgraded shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, September 13th. Morgan Stanley dropped their target price on shares of Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. JPMorgan Chase & Co. cut shares of Voya Financial from an “overweight” rating to a “neutral” rating and set a $87.00 price target on the stock. in a research report on Thursday, October 3rd. Royal Bank of Canada boosted their price objective on Voya Financial from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Bank of America lifted their target price on Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Voya Financial has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Voya Financial Stock Performance

Shares of VOYA opened at $80.68 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.31 and a current ratio of 0.31. Voya Financial, Inc. has a 1 year low of $63.11 and a 1 year high of $84.30. The firm has a fifty day moving average of $79.82 and a 200-day moving average of $74.39. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 0.57 and a beta of 1.03.

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

Voya Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.23%. The ex-dividend date is Tuesday, November 26th. Voya Financial’s payout ratio is currently 28.66%.

Insiders Place Their Bets

In other news, insider Tony D. Oh sold 715 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.95, for a total value of $58,594.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.37% of the stock is currently owned by insiders.

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.