Tower Research Capital LLC TRC Has $297,000 Stake in Voya Financial, Inc. (NYSE:VOYA)

Tower Research Capital LLC TRC reduced its position in shares of Voya Financial, Inc. (NYSE:VOYA – Get Rating) by 73.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,913 shares of the asset manager’s stock after selling 13,313 shares during the period. Tower Research Capital LLC TRC’s holdings in Voya Financial were worth $297,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VOYA. Allspring Global Investments Holdings LLC grew its stake in shares of Voya Financial by 1,035.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,321 shares of the asset manager’s stock worth $805,000 after acquiring an additional 12,148 shares in the last quarter. Synovus Financial Corp grew its position in Voya Financial by 1.8% in the third quarter. Synovus Financial Corp now owns 18,358 shares of the asset manager’s stock valued at $1,111,000 after purchasing an additional 327 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Voya Financial in the 2nd quarter valued at $1,127,000. Prana Capital Management LP lifted its position in Voya Financial by 126.8% during the 2nd quarter. Prana Capital Management LP now owns 397,159 shares of the asset manager’s stock worth $23,643,000 after buying an additional 222,043 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Voya Financial by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 294,048 shares of the asset manager’s stock worth $17,505,000 after buying an additional 7,622 shares during the last quarter.

Voya Financial Stock Up 2.4 %

Shares of VOYA opened at $76.26 on Thursday. The firm has a market cap of $7.42 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 0.65 and a beta of 1.17. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.30 and a current ratio of 0.30. Voya Financial, Inc. has a 52 week low of $56.20 and a 52 week high of $78.11. The firm’s 50-day simple moving average is $69.03 and its 200 day simple moving average is $65.50.

Voya Financial (NYSE:VOYA – Get Rating) last posted its earnings results on Tuesday, February 7th. The asset manager reported $2.18 EPS for the quarter, beating the consensus estimate of $1.53 by $0.65. The company had revenue of $880.00 million for the quarter, compared to the consensus estimate of $259.86 million. Voya Financial had a return on equity of 13.09% and a net margin of 9.37%. During the same quarter in the prior year, the business earned $1.90 earnings per share. On average, analysts forecast that Voya Financial, Inc. will post 8.04 earnings per share for the current year.

Voya Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Shareholders of record on Friday, February 24th will be given a dividend of $0.20 per share. This is a boost from Voya Financial’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, February 23rd. This represents a $0.80 annualized dividend and a yield of 1.05%. Voya Financial’s dividend payout ratio (DPR) is presently 18.18%.

Insider Transactions at Voya Financial

In related news, Director Rodney O. Martin, Jr. sold 70,774 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $73.59, for a total transaction of $5,208,258.66. Following the transaction, the director now directly owns 228,208 shares of the company’s stock, valued at $16,793,826.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Voya Financial news, Director Rodney O. Martin, Jr. sold 70,774 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $73.59, for a total transaction of $5,208,258.66. Following the transaction, the director now owns 228,208 shares in the company, valued at approximately $16,793,826.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rodney O. Martin, Jr. sold 109,588 shares of Voya Financial stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $74.23, for a total transaction of $8,134,717.24. Following the completion of the sale, the chief executive officer now owns 220,882 shares of the company’s stock, valued at $16,396,070.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 183,926 shares of company stock valued at $13,606,926. 1.44% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on VOYA. Citigroup dropped their target price on Voya Financial from $83.00 to $82.00 in a report on Wednesday, November 16th. Royal Bank of Canada increased their price objective on Voya Financial from $79.00 to $87.00 and gave the company an “outperform” rating in a report on Monday, February 13th. StockNews.com upgraded shares of Voya Financial from a “sell” rating to a “hold” rating in a report on Thursday, February 9th. Jefferies Financial Group upped their price target on shares of Voya Financial from $74.00 to $78.00 and gave the stock a “hold” rating in a research report on Tuesday, February 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Voya Financial from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, February 13th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Voya Financial currently has an average rating of “Moderate Buy” and a consensus price target of $83.17.

Voya Financial Profile

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Voya Financial, Inc is a retirement, investment, and insurance company, which engages in the provision of financial services. It operates through the following segments: Retirement, Investment Management, and Employee Benefits. The Retirement segment offers tax-deferred, employer-sponsored retirement savings plans and administrative services.