California Public Employees Retirement System Trims Holdings in Voya Financial, Inc. (NYSE:VOYA)

California Public Employees Retirement System trimmed its position in Voya Financial, Inc. (NYSE:VOYA) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 184,794 shares of the asset manager’s stock after selling 5,227 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Voya Financial worth $13,483,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of VOYA. Vanguard Group Inc. grew its holdings in Voya Financial by 7.8% during the third quarter. Vanguard Group Inc. now owns 10,465,556 shares of the asset manager’s stock worth $695,436,000 after acquiring an additional 752,851 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Voya Financial by 2.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,610,199 shares of the asset manager’s stock worth $115,621,000 after acquiring an additional 40,000 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Voya Financial by 8.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 663,013 shares of the asset manager’s stock worth $44,057,000 after acquiring an additional 50,015 shares during the period. Jupiter Asset Management Ltd. grew its holdings in Voya Financial by 1,722.3% in the third quarter. Jupiter Asset Management Ltd. now owns 612,754 shares of the asset manager’s stock valued at $40,718,000 after purchasing an additional 579,128 shares during the period. Finally, Invesco Ltd. grew its holdings in Voya Financial by 67.4% in the third quarter. Invesco Ltd. now owns 423,702 shares of the asset manager’s stock valued at $28,155,000 after purchasing an additional 170,605 shares during the period. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VOYA has been the topic of several research analyst reports. Evercore ISI raised their price objective on Voya Financial from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Piper Sandler lifted their price target on Voya Financial from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $82.00 price target on shares of Voya Financial in a research note on Monday, January 8th. Royal Bank of Canada lowered their price target 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. Finally, Morgan Stanley lowered their price target 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. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $82.50.

Voya Financial Price Performance

NYSE:VOYA opened at $68.16 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $6.91 billion, a P/E ratio of 12.55, a P/E/G ratio of 0.47 and a beta of 1.06. Voya Financial, Inc. has a 52 week low of $63.02 and a 52 week high of $77.28. The stock’s fifty day moving average is $69.69 and its two-hundred day moving average is $70.38.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, February 6th. The asset manager reported $1.97 earnings per share (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 the consensus estimate of $304.66 million. Voya Financial had a return on equity of 16.60% and a net margin of 8.51%. Equities analysts expect that Voya Financial, Inc. will post 8.39 EPS for the current year.

Voya Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.60 annualized dividend and a dividend yield of 2.35%. Voya Financial’s dividend payout ratio is currently 29.47%.

About Voya Financial

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.