Thrivent Financial for Lutherans Cuts Stake in Voya Financial, Inc. (NYSE:VOYA)

Thrivent Financial for Lutherans reduced its stake in Voya Financial, Inc. (NYSE:VOYA) by 43.0% during the fourth quarter, HoldingsChannel reports. The fund owned 141,202 shares of the asset manager’s stock after selling 106,323 shares during the period. Thrivent Financial for Lutherans’ holdings in Voya Financial were worth $9,719,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of VOYA. Impax Asset Management Group plc grew its stake in shares of Voya Financial by 277.8% in the fourth quarter. Impax Asset Management Group plc now owns 2,898,785 shares of the asset manager’s stock worth $199,062,000 after acquiring an additional 2,131,578 shares during the last quarter. Wealthfront Advisers LLC bought a new position in Voya Financial during the 4th quarter valued at about $67,214,000. Bank of New York Mellon Corp lifted its stake in Voya Financial by 15.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,472,277 shares of the asset manager’s stock valued at $445,487,000 after acquiring an additional 876,399 shares during the period. Hennessy Advisors Inc. purchased a new stake in shares of Voya Financial during the 4th quarter valued at about $47,155,000. Finally, FMR LLC grew its stake in shares of Voya Financial by 25.9% in the third quarter. FMR LLC now owns 2,884,044 shares of the asset manager’s stock worth $228,474,000 after acquiring an additional 592,523 shares during the period. 96.10% of the stock is owned by hedge funds and other institutional investors.

Voya Financial Price Performance

Shares of NYSE:VOYA opened at $67.77 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.30 and a quick ratio of 0.31. Voya Financial, Inc. has a 1-year low of $64.10 and a 1-year high of $84.30. The company has a market capitalization of $6.47 billion, a P/E ratio of 11.07, a P/E/G ratio of 0.48 and a beta of 1.03. The firm’s 50 day simple moving average is $70.43 and its two-hundred day simple moving average is $74.50.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.65). Voya Financial had a net margin of 8.29% and a return on equity of 14.10%. Research analysts expect that Voya Financial, Inc. will post 8.39 EPS for the current fiscal year.

Voya Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, February 25th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Tuesday, February 25th. Voya Financial’s dividend payout ratio (DPR) is presently 29.41%.

Analysts Set New Price Targets

A number of analysts have recently commented on VOYA shares. Keefe, Bruyette & Woods reduced their price target on shares of Voya Financial from $90.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Wells Fargo & Company lifted their price target on shares of Voya Financial from $76.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Morgan Stanley upgraded shares of Voya Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $76.00 to $87.00 in a research note on Friday, February 28th. Piper Sandler reduced their price target on shares of Voya Financial from $91.00 to $84.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Finally, Bank of America reiterated a “neutral” rating and issued a $83.00 price target (down from $91.00) on shares of Voya Financial in a research note on Wednesday, December 11th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.55.

Voya Financial 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.