Allspring Global Investments Holdings LLC Purchases 6,856 Shares of Voya Financial, Inc. $VOYA

Allspring Global Investments Holdings LLC grew its holdings in Voya Financial, Inc. (NYSE:VOYA) by 6.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 110,603 shares of the asset manager’s stock after purchasing an additional 6,856 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Voya Financial were worth $7,407,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Allworth Financial LP raised its stake in Voya Financial by 75.5% during the third quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock worth $26,000 after acquiring an additional 151 shares in the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Voya Financial in the 4th quarter valued at $28,000. V Square Quantitative Management LLC bought a new position in shares of Voya Financial in the 4th quarter valued at $33,000. Systematic Financial Management LP acquired a new stake in shares of Voya Financial during the 4th quarter valued at $37,000. Finally, Root Financial Partners LLC boosted its holdings in shares of 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 acquiring an additional 214 shares in the last quarter. Institutional investors own 96.10% of the company’s stock.

Insiders Place Their Bets

In related news, insider Trevor Ogle sold 3,994 shares of the business’s 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 transaction, the insider directly owned 2,887 shares in the company, valued at approximately $259,830. The trade was a 58.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.57% of the company’s stock.

Voya Financial Trading Down 1.7%

VOYA opened at $96.83 on Friday. Voya Financial, Inc. has a fifty-two week low of $64.50 and a fifty-two week high of $103.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.27 and a quick ratio of 0.27. The company’s 50-day moving average is $90.08 and its 200 day moving average is $79.36. The firm has a market capitalization of $8.78 billion, a PE ratio of 14.63, a P/E/G ratio of 0.90 and a beta of 0.91.

Voya Financial (NYSE:VOYA) last announced its earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.24. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the firm earned $2.00 earnings per share. Voya Financial’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, research analysts predict that Voya Financial, Inc. will post 9.38 earnings per share for the current fiscal year.

Voya Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on VOYA shares. UBS Group raised their price objective on shares of Voya Financial from $95.00 to $125.00 and gave the company a “buy” rating in a report on Friday, July 10th. Bank of America reduced their price target on Voya Financial from $72.00 to $70.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Atlantic Securities set a $79.00 target price on Voya Financial in a report on Wednesday, July 15th. Royal Bank Of Canada upped their target price on Voya Financial from $100.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Morgan Stanley increased their target price on shares of Voya Financial from $84.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.15.

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.