abrdn plc Raises Holdings in Voya Financial, Inc. (NYSE:VOYA)

abrdn plc grew its position in shares of Voya Financial, Inc. (NYSE:VOYA) by 109.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,602 shares of the asset manager’s stock after buying an additional 17,067 shares during the period. abrdn plc’s holdings in Voya Financial were worth $2,379,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Chilton Capital Management LLC purchased a new position in shares of Voya Financial during the 4th quarter valued at $26,000. Clearstead Advisors LLC bought a new stake in shares of Voya Financial during the 3rd quarter valued at $33,000. Fifth Third Bancorp raised its stake in shares of Voya Financial by 12.5% during the 3rd quarter. Fifth Third Bancorp now owns 1,770 shares of the asset manager’s stock valued at $118,000 after purchasing an additional 196 shares during the period. Mutual Advisors LLC bought a new stake in shares of Voya Financial during the 3rd quarter valued at $201,000. Finally, MQS Management LLC bought a new stake in shares of Voya Financial during the 3rd quarter valued at $203,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on VOYA shares. Morgan Stanley decreased their price objective on Voya Financial from $79.00 to $78.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. The Goldman Sachs Group reiterated a “neutral” rating and set a $82.00 price objective on shares of Voya Financial in a research note on Monday, January 8th. Piper Sandler upped their target price on Voya Financial from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Evercore ISI upped their target price on Voya Financial from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Royal Bank of Canada decreased their target price on Voya Financial from $85.00 to $83.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.50.

Voya Financial Price Performance

Shares of Voya Financial stock opened at $68.35 on Monday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $6.93 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.46 and a beta of 1.06. The business’s 50-day moving average price is $69.73 and its 200-day moving average price is $70.32. Voya Financial, Inc. has a 12 month low of $63.02 and a 12 month high of $77.28.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings data on Tuesday, February 6th. The asset manager reported $1.97 EPS for the quarter, beating the consensus estimate of $1.95 by $0.02. The firm had revenue of $236.00 million for the quarter, compared to analyst estimates of $304.66 million. Voya Financial had a return on equity of 16.60% and a net margin of 8.51%. Sell-side analysts forecast that Voya Financial, Inc. will post 8.39 EPS for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Tuesday, May 28th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.34%. The ex-dividend date is Friday, May 24th. Voya Financial’s dividend payout ratio (DPR) is currently 29.47%.

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.