Qtron Investments LLC Increases Stake in Voya Financial Inc (NYSE:VOYA)
Qtron Investments LLC boosted its stake in shares of Voya Financial Inc (NYSE:VOYA) by 79.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,339 shares of the asset manager’s stock after acquiring an additional 5,450 shares during the quarter. Qtron Investments LLC’s holdings in Voya Financial were worth $682,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. US Bancorp DE raised its position in Voya Financial by 18.5% during the second quarter. US Bancorp DE now owns 1,438 shares of the asset manager’s stock valued at $79,000 after acquiring an additional 224 shares in the last quarter. HighTower Advisors LLC raised its position in Voya Financial by 8.9% during the second quarter. HighTower Advisors LLC now owns 17,270 shares of the asset manager’s stock valued at $956,000 after acquiring an additional 1,418 shares in the last quarter. APG Asset Management N.V. raised its position in Voya Financial by 1,477.6% during the second quarter. APG Asset Management N.V. now owns 506,400 shares of the asset manager’s stock valued at $24,591,000 after acquiring an additional 474,300 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Voya Financial by 0.3% during the second quarter. Parametric Portfolio Associates LLC now owns 1,286,972 shares of the asset manager’s stock valued at $71,170,000 after acquiring an additional 4,140 shares in the last quarter. Finally, H2O AM LLP increased its position in shares of Voya Financial by 30.0% in the second quarter. H2O AM LLP now owns 241,391 shares of the asset manager’s stock valued at $13,348,000 after buying an additional 55,702 shares in the last quarter.
A number of analysts have recently commented on the company. Citigroup cut their price objective on Voya Financial from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday. Royal Bank of Canada set a $60.00 price objective on Voya Financial and gave the company a “buy” rating in a research report on Wednesday, August 7th. ValuEngine cut Voya Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Morgan Stanley cut their price objective on Voya Financial from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Tuesday, August 20th. Finally, Goldman Sachs Group upgraded Voya Financial from a “buy” rating to a “conviction-buy” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $59.50.
Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, August 6th. The asset manager reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.05. The business had revenue of $278.00 million during the quarter, compared to analysts’ expectations of $314.19 million. Voya Financial had a return on equity of 8.47% and a net margin of 6.16%. During the same period in the previous year, the business earned $1.13 earnings per share. Sell-side analysts forecast that Voya Financial Inc will post 5.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, August 29th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, August 28th. This is a positive change from Voya Financial’s previous quarterly dividend of $0.01. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.10%. Voya Financial’s payout ratio is currently 14.85%.
In other news, Director Byron H. Pollitt, Jr. purchased 1,000 shares of the stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $49.30 per share, with a total value of $49,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.69% of the company’s stock.
Voya Financial Profile
Voya Financial, Inc operates as a retirement, investment, and employee benefits company in the United States. It operates through four segments: Retirement, Investment Management, Employee Benefits, and Individual Life. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and financial services, as well as financial planning and advisory services.
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