Fifth Third Bancorp Buys 61,795 Shares of Voya Financial, Inc. $VOYA

Fifth Third Bancorp boosted its position in Voya Financial, Inc. (NYSE:VOYA) by 4,892.7% during the first quarter, Holdings Channel.com reports. The fund owned 63,058 shares of the asset manager’s stock after acquiring an additional 61,795 shares during the period. Fifth Third Bancorp’s holdings in Voya Financial were worth $4,308,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Allworth Financial LP boosted its holdings in Voya Financial by 75.5% in the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 151 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in Voya Financial during the fourth quarter worth about $28,000. V Square Quantitative Management LLC purchased a new stake in shares of Voya Financial in the 4th quarter worth approximately $33,000. Systematic Financial Management LP purchased a new stake in shares of Voya Financial in the fourth quarter worth $37,000. Finally, Root Financial Partners LLC grew its position in Voya Financial by 59.6% during the 1st quarter. Root Financial Partners LLC now owns 573 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 214 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Atlantic Securities set a $79.00 target price on Voya Financial in a research note on Wednesday. Morgan Stanley boosted their price target on Voya Financial from $84.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Bank of America dropped their price target on shares of Voya Financial from $72.00 to $70.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Wells Fargo & Company increased their target price on Voya Financial from $89.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Finally, Barclays raised their target price on shares of Voya Financial from $98.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.69.

Insiders Place Their Bets

In related news, insider Trevor Ogle sold 3,994 shares of Voya Financial stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $90.00, for a total transaction of $359,460.00. Following the completion of the sale, the insider owned 2,887 shares in the company, valued at $259,830. This trade represents a 58.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by insiders.

Voya Financial Price Performance

VOYA stock opened at $99.76 on Friday. Voya Financial, Inc. has a 12 month low of $64.50 and a 12 month high of $103.85. The company has a 50-day moving average price of $88.73 and a 200 day moving average price of $78.68. The stock has a market cap of $9.05 billion, a PE ratio of 15.07, a P/E/G ratio of 0.91 and a beta of 0.91. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.48.

Voya Financial (NYSE:VOYA) last released its earnings results on Tuesday, May 5th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.24. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the firm posted $2.00 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Equities research analysts anticipate that Voya Financial, Inc. will post 9.4 earnings per share for the current year.

Voya Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, May 26th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, May 26th. Voya Financial’s dividend payout ratio (DPR) is currently 28.40%.

Voya Financial Profile

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.