Truist Financial Corp Cuts Position in Voya Financial, Inc. $VOYA

Truist Financial Corp lessened its holdings in Voya Financial, Inc. (NYSE:VOYA) by 69.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,566 shares of the asset manager’s stock after selling 46,564 shares during the period. Truist Financial Corp’s holdings in Voya Financial were worth $1,532,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Root Financial Partners LLC purchased a new position in shares of Voya Financial in the 3rd quarter valued at about $26,000. Allworth Financial LP boosted its holdings in Voya Financial by 75.5% in the 3rd quarter. Allworth Financial LP now owns 351 shares of the asset manager’s stock worth $26,000 after buying an additional 151 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Voya Financial in the 4th quarter worth about $33,000. Rothschild Investment LLC boosted its holdings in Voya Financial by 5,180.0% in the 3rd quarter. Rothschild Investment LLC now owns 528 shares of the asset manager’s stock worth $39,000 after buying an additional 518 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Voya Financial by 625.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 551 shares of the asset manager’s stock worth $39,000 after buying an additional 475 shares during the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VOYA. Keefe, Bruyette & Woods lowered their price objective on Voya Financial from $82.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, April 10th. TD Cowen began coverage on Voya Financial in a report on Monday, April 20th. They issued a “buy” rating and a $100.00 price objective on the stock. Weiss Ratings upgraded Voya Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Bank of America lowered their price objective on Voya Financial from $72.00 to $70.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Finally, Royal Bank Of Canada lifted their price objective on Voya Financial from $87.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Voya Financial presently has an average rating of “Moderate Buy” and an average price target of $87.80.

Voya Financial Trading Down 0.5%

Shares of Voya Financial stock opened at $81.37 on Friday. The stock has a market cap of $7.38 billion, a P/E ratio of 12.29, a P/E/G ratio of 0.74 and a beta of 0.94. The stock’s 50 day simple moving average is $72.74 and its 200-day simple moving average is $73.23. Voya Financial, Inc. has a 1-year low of $64.50 and a 1-year high of $84.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.27 and a quick ratio of 0.27.

Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.24. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.00 EPS. Analysts predict that Voya Financial, Inc. will post 9.65 EPS for the current fiscal year.

Voya Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, May 26th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, May 26th. Voya Financial’s payout ratio is currently 28.40%.

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.