Davis Capital Management Makes New $1.48 Million Investment in Voya Financial, Inc. $VOYA

Davis Capital Management acquired a new stake in shares of Voya Financial, Inc. (NYSE:VOYA) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 19,839 shares of the asset manager’s stock, valued at approximately $1,484,000. Voya Financial makes up approximately 1.0% of Davis Capital Management’s holdings, making the stock its 26th biggest position.

A number of other hedge funds also recently made changes to their positions in VOYA. IFP Advisors Inc raised its position in Voya Financial by 225.6% during the second quarter. IFP Advisors Inc now owns 433 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 300 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Voya Financial by 149.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 481 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 288 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Voya Financial by 625.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager’s stock valued at $39,000 after buying an additional 475 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Voya Financial by 44.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the asset manager’s stock worth $49,000 after buying an additional 223 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in Voya Financial in the third quarter worth approximately $65,000. 96.10% of the stock is owned by institutional investors.

Voya Financial Price Performance

VOYA stock opened at $75.58 on Friday. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.49 and a beta of 0.90. The firm’s 50-day moving average price is $72.50 and its two-hundred day moving average price is $73.02. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.42. Voya Financial, Inc. has a 12-month low of $52.43 and a 12-month high of $78.00.

Voya Financial (NYSE:VOYA) last posted its earnings results on Tuesday, November 4th. The asset manager reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.23. Voya Financial had a net margin of 7.55% and a return on equity of 13.89%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the business posted $2.12 earnings per share. Voya Financial’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities analysts predict that Voya Financial, Inc. will post 8.39 earnings per share for the current year.

Voya Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Wednesday, November 26th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.5%. This is a boost from Voya Financial’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, November 26th. Voya Financial’s payout ratio is presently 32.30%.

Analysts Set New Price Targets

A number of brokerages have commented on VOYA. Wall Street Zen upgraded shares of Voya Financial from a “hold” rating to a “buy” rating in a research report on Saturday, December 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Voya Financial in a report on Monday, December 29th. Morgan Stanley reissued an “overweight” rating and issued a $93.00 price target on shares of Voya Financial in a research note on Monday, December 15th. Keefe, Bruyette & Woods reduced their price objective on Voya Financial from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. Finally, Barclays lifted their price objective on Voya Financial from $81.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $84.56.

About Voya Financial

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.