TIAA CREF Investment Management LLC boosted its position in shares of Voya Financial Inc (NYSE:VOYA) by 470.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,000,123 shares of the asset manager’s stock after purchasing an additional 1,649,729 shares during the quarter. TIAA CREF Investment Management LLC owned about 1.11% of Voya Financial worth $98,946,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in VOYA. Steward Partners Investment Advisory LLC bought a new stake in Voya Financial during the 4th quarter worth about $133,000. Advisor Group Inc. raised its holdings in Voya Financial by 171.6% during the 4th quarter. Advisor Group Inc. now owns 4,576 shares of the asset manager’s stock worth $226,000 after purchasing an additional 2,891 shares during the last quarter. Eagle Global Advisors LLC bought a new stake in Voya Financial during the 4th quarter worth about $247,000. IFM Investors Pty Ltd bought a new stake in Voya Financial during the 3rd quarter worth about $254,000. Finally, Focused Wealth Management Inc bought a new stake in Voya Financial during the 4th quarter worth about $257,000.
Shares of Voya Financial Inc (NYSE:VOYA) opened at $53.51 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.18 and a quick ratio of 0.18. The company has a market capitalization of $9,203.93, a PE ratio of 18.71, a PEG ratio of 0.69 and a beta of 1.56. Voya Financial Inc has a 52 week low of $33.53 and a 52 week high of $54.87.
Voya Financial declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 13th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.07%. Voya Financial’s dividend payout ratio (DPR) is presently -0.24%.
In related news, insider Kevin D. Silva sold 895 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $50.77, for a total value of $45,439.15. Following the completion of the transaction, the insider now directly owns 9,299 shares in the company, valued at approximately $472,110.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kevin D. Silva sold 5,480 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $51.70, for a total value of $283,316.00. Following the completion of the transaction, the insider now owns 14,577 shares of the company’s stock, valued at $753,630.90. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
Several analysts have weighed in on the company. SunTrust Banks boosted their price objective on Voya Financial to $54.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. BTIG Research reissued a “buy” rating and set a $59.00 price objective on shares of Voya Financial in a report on Tuesday, January 2nd. Wells Fargo reissued a “buy” rating on shares of Voya Financial in a report on Wednesday, February 21st. Royal Bank of Canada reissued a “buy” rating and set a $55.00 price objective on shares of Voya Financial in a report on Friday, December 22nd. Finally, Evercore ISI raised Voya Financial from an “in-line” rating to an “outperform” rating and upped their price target for the company from $47.00 to $60.00 in a research note on Thursday, December 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. Voya Financial presently has an average rating of “Buy” and a consensus target price of $55.00.
Voya Financial Company Profile
Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.
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