Meritage Portfolio Management Has $7.27 Million Stock Position in Voya Financial, Inc. (NYSE:VOYA)

Meritage Portfolio Management lowered its stake in Voya Financial, Inc. (NYSE:VOYA) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,607 shares of the asset manager’s stock after selling 429 shares during the quarter. Meritage Portfolio Management’s holdings in Voya Financial were worth $7,267,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Alaska Permanent Fund Corp increased its position in Voya Financial by 1.2% in the 4th quarter. Alaska Permanent Fund Corp now owns 32,886 shares of the asset manager’s stock valued at $2,399,000 after buying an additional 386 shares in the last quarter. GAMMA Investing LLC bought a new stake in Voya Financial in the 4th quarter valued at about $49,000. Signaturefd LLC increased its position in Voya Financial by 2.9% in the 4th quarter. Signaturefd LLC now owns 5,156 shares of the asset manager’s stock valued at $376,000 after buying an additional 147 shares in the last quarter. abrdn plc increased its position in Voya Financial by 109.9% in the 4th quarter. abrdn plc now owns 32,602 shares of the asset manager’s stock valued at $2,379,000 after buying an additional 17,067 shares in the last quarter. Finally, Greenleaf Trust boosted its stake in Voya Financial by 16.4% during the 4th quarter. Greenleaf Trust now owns 6,261 shares of the asset manager’s stock valued at $457,000 after purchasing an additional 883 shares during the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.

Voya Financial Stock Performance

Shares of NYSE:VOYA traded up $0.34 during mid-day trading on Friday, reaching $68.28. The company had a trading volume of 379,077 shares, compared to its average volume of 887,156. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.55. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 0.47 and a beta of 1.06. The company’s 50-day moving average price is $69.76 and its 200-day moving average price is $70.29. Voya Financial, Inc. has a one year low of $63.02 and a one year high of $77.28.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, February 6th. The asset manager reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.02. The company had revenue of $236.00 million for the quarter, compared to analysts’ expectations of $304.66 million. Voya Financial had a net margin of 8.51% and a return on equity of 16.60%. As a group, equities research analysts anticipate that Voya Financial, Inc. will post 8.39 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, May 24th. This represents a $1.60 dividend on an annualized basis and a yield of 2.34%. Voya Financial’s payout ratio is 29.47%.

Analyst Upgrades and Downgrades

VOYA has been the subject of a number of analyst reports. Evercore ISI lifted their price target on Voya Financial from $79.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Wells Fargo & Company lifted their price target on Voya Financial from $85.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Royal Bank of Canada cut their price target on Voya Financial from $85.00 to $83.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Morgan Stanley cut their target price on Voya Financial from $79.00 to $78.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. Finally, Piper Sandler boosted their target price on Voya Financial from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $82.50.

Voya Financial Company Profile

Voya Financial, Inc engages in the provision of workplace benefits and savings products in the United States and internationally. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees.