State of Michigan Retirement System Purchases 300 Shares of Voya Financial, Inc. (NYSE:VOYA)

State of Michigan Retirement System boosted its position in shares of Voya Financial, Inc. (NYSE:VOYA) by 1.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,316 shares of the asset manager’s stock after purchasing an additional 300 shares during the period. State of Michigan Retirement System’s holdings in Voya Financial were worth $1,871,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Voya Financial by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 10,465,556 shares of the asset manager’s stock valued at $695,436,000 after purchasing an additional 752,851 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Voya Financial by 2.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 1,610,199 shares of the asset manager’s stock valued at $115,621,000 after purchasing an additional 40,000 shares during the last quarter. Norges Bank bought a new position in Voya Financial during the 4th quarter valued at about $80,749,000. Charles Schwab Investment Management Inc. grew its holdings in Voya Financial by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 681,329 shares of the asset manager’s stock valued at $49,710,000 after purchasing an additional 18,316 shares during the last quarter. Finally, UBS Group AG grew its holdings in Voya Financial by 5.1% during the 4th quarter. UBS Group AG now owns 319,976 shares of the asset manager’s stock valued at $23,345,000 after purchasing an additional 15,606 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors.

Voya Financial Trading Up 0.7 %

NYSE:VOYA opened at $71.76 on Friday. Voya Financial, Inc. has a 52 week low of $63.02 and a 52 week high of $77.00. The firm has a 50 day moving average of $72.87 and a 200 day moving average of $71.45. 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 stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 0.51 and a beta of 1.05.

Voya Financial (NYSE:VOYA) last posted its earnings results on Tuesday, April 30th. The asset manager reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.30. Voya Financial had a net margin of 10.48% and a return on equity of 16.74%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. Voya Financial’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Voya Financial, Inc. will post 8.48 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Tuesday, May 28th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, May 24th. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. Voya Financial’s payout ratio is 22.73%.

Insider Buying and Selling at Voya Financial

In other Voya Financial news, Director Yvette S. Butler sold 2,165 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $73.78, for a total transaction of $159,733.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on VOYA shares. Piper Sandler boosted their price objective on shares of Voya Financial from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Wells Fargo & Company boosted their price objective on shares of Voya Financial from $91.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Evercore ISI boosted their price objective on shares of Voya Financial from $79.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Jefferies Financial Group boosted their price objective on shares of Voya Financial from $76.00 to $79.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of Voya Financial from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Voya Financial currently has an average rating of “Moderate Buy” and a consensus price target of $83.78.

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.