Prana Capital Management LP acquired a new stake in Voya Financial Inc (NYSE:VOYA) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 486,438 shares of the asset manager’s stock, valued at approximately $24,064,000. Voya Financial comprises about 8.2% of Prana Capital Management LP’s portfolio, making the stock its biggest holding. Prana Capital Management LP owned 0.27% of Voya Financial at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new stake in Voya Financial in the fourth quarter valued at approximately $133,000. Advisor Group Inc. boosted its position in Voya Financial by 171.6% in the fourth quarter. Advisor Group Inc. now owns 4,576 shares of the asset manager’s stock valued at $226,000 after buying an additional 2,891 shares in the last quarter. Eagle Global Advisors LLC acquired a new stake in Voya Financial in the fourth quarter valued at approximately $247,000. Focused Wealth Management Inc acquired a new stake in Voya Financial in the fourth quarter valued at approximately $257,000. Finally, Mutual Advisors LLC acquired a new stake in Voya Financial in the fourth quarter valued at approximately $278,000.
A number of brokerages have weighed in on VOYA. Wells Fargo & Co set a $63.00 target price on shares of Voya Financial and gave the company a “buy” rating in a research report on Thursday, March 1st. UBS Group began coverage on shares of Voya Financial in a research report on Friday, March 2nd. They issued a “buy” rating and a $65.00 target price on the stock. Keefe, Bruyette & Woods restated a “buy” rating and issued a $55.00 target price on shares of Voya Financial in a research report on Thursday, December 21st. ValuEngine upgraded shares of Voya Financial from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, SunTrust Banks raised their target price on shares of Voya Financial to $54.00 and gave the company a “hold” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $54.75.
Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, February 13th. The asset manager reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.17. The company had revenue of $2.19 billion for the quarter. Voya Financial had a negative net margin of 31.38% and a positive return on equity of 3.90%. research analysts forecast that Voya Financial Inc will post 4.3 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, February 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.08%. Voya Financial’s dividend payout ratio (DPR) is presently -0.24%.
Voya Financial declared that its board has initiated a stock repurchase plan on Tuesday, February 13th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, insider Kevin D. Silva sold 895 shares of Voya Financial stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $50.77, for a total transaction of $45,439.15. Following the transaction, the insider now owns 9,299 shares in the company, valued at $472,110.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kevin D. Silva sold 5,480 shares of the business’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $51.70, for a total transaction of $283,316.00. Following the completion of the transaction, the insider now owns 14,577 shares in the company, valued at approximately $753,630.90. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.
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About Voya Financial
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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