Provenance Wealth Advisors LLC Purchases 5,811 Shares of Voya Financial, Inc. $VOYA

Provenance Wealth Advisors LLC lifted its holdings in shares of Voya Financial, Inc. (NYSE:VOYA) by 72,637.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,819 shares of the asset manager’s stock after buying an additional 5,811 shares during the period. Provenance Wealth Advisors LLC’s holdings in Voya Financial were worth $550,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Voya Financial during the second quarter worth $850,187,000. Bank of New York Mellon Corp acquired a new stake in shares of Voya Financial during the 2nd quarter worth about $520,280,000. Pzena Investment Management LLC purchased a new stake in shares of Voya Financial in the second quarter valued at $319,539,000. Dimensional Fund Advisors LP grew its holdings in Voya Financial by 10.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,699,676 shares of the asset manager’s stock valued at $184,436,000 after purchasing an additional 248,935 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Voya Financial by 280.8% in the 1st quarter. First Trust Advisors LP now owns 526,864 shares of the asset manager’s stock worth $35,995,000 after purchasing an additional 388,520 shares during the period. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Trading Down 6.0%

VOYA stock opened at $98.34 on Friday. The firm has a market cap of $8.91 billion, a P/E ratio of 15.81, a P/E/G ratio of 1.05 and a beta of 0.85. The company has a current ratio of 0.35, a quick ratio of 0.27 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $98.64 and its 200-day moving average is $86.69. Voya Financial, Inc. has a 1-year low of $64.50 and a 1-year high of $105.68.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Monday, November 2nd. The asset manager reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Voya Financial had a return on equity of 12.67% and a net margin of 7.75%. The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.45 earnings per share. Equities analysts anticipate that Voya Financial, Inc. will post 9.16 earnings per share for the current fiscal year.

Voya Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, November 24th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, November 24th. This is a positive change from Voya Financial’s previous quarterly dividend of $0.47. This represents a $2.28 dividend on an annualized basis and a yield of 2.3%. Voya Financial’s payout ratio is presently 30.23%.

Insider Activity

In related news, insider Trevor Ogle sold 2,093 shares of the firm’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $95.81, for a total transaction of $200,530.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Evercore reissued an “outperform” rating and set a $111.00 price target on shares of Voya Financial in a research report on Friday, August 7th. TD Cowen upped their price target on shares of Voya Financial from $112.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. lowered their target price on shares of Voya Financial from $109.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, October 15th. Morgan Stanley increased their target price on shares of Voya Financial from $92.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Finally, Jefferies Financial Group raised their price objective on shares of Voya Financial from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.69.

Voya Financial Profile

Voya Financial, Inc is a U.S.-based financial services company that helps individuals, employers and institutions plan for retirement, manage investments and address employee benefit needs. Its businesses are organized primarily around Retirement, Employee Benefits and Investment Management.

Voya’s retirement business provides workplace retirement plans, including defined contribution and defined benefit solutions, as well as individual retirement products and advisory services. Its employee benefits operations offer products such as health, life, disability and supplemental insurance, along with benefits administration and related services for employers and their workers.

Through its investment management business, Voya provides institutional and individual investors with asset-management and advisory capabilities across a range of investment strategies.