Cambria Investment Management L.P. Trims Position in Voya Financial, Inc. (NYSE:VOYA)

Cambria Investment Management L.P. cut its holdings in shares of Voya Financial, Inc. (NYSE:VOYA) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 108,242 shares of the asset manager’s stock after selling 5,066 shares during the period. Cambria Investment Management L.P. owned 0.10% of Voya Financial worth $7,762,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in VOYA. Atlas Capital Advisors LLC grew its stake in Voya Financial by 48.4% in the fourth quarter. Atlas Capital Advisors LLC now owns 417 shares of the asset manager’s stock worth $26,000 after purchasing an additional 136 shares during the period. EverSource Wealth Advisors LLC grew its stake in Voya Financial by 115.5% in the first quarter. EverSource Wealth Advisors LLC now owns 474 shares of the asset manager’s stock worth $34,000 after purchasing an additional 254 shares during the period. Sunbelt Securities Inc. purchased a new stake in Voya Financial in the first quarter worth $35,000. Brown Brothers Harriman & Co. purchased a new stake in Voya Financial in the first quarter worth $36,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Voya Financial in the first quarter worth $46,000. 96.10% of the stock is owned by hedge funds and other institutional investors.

Voya Financial Stock Performance

Shares of NYSE:VOYA traded up $0.12 during midday trading on Wednesday, reaching $71.48. 28,572 shares of the company’s stock traded hands, compared to its average volume of 1,199,533. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 0.68 and a beta of 1.13. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.29 and a current ratio of 0.29. Voya Financial, Inc. has a one year low of $58.83 and a one year high of $78.11. The stock has a 50 day moving average of $67.50 and a 200 day moving average of $70.08.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Tuesday, October 31st. The asset manager reported $2.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.02). Voya Financial had a net margin of 10.81% and a return on equity of 16.91%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $336.28 million. During the same period in the previous year, the company earned $2.30 earnings per share. As a group, equities research analysts anticipate that Voya Financial, Inc. will post 8.25 EPS for the current fiscal year.

Voya Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Monday, November 27th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Friday, November 24th. Voya Financial’s dividend payout ratio is 26.23%.

Analysts Set New Price Targets

VOYA has been the topic of several recent research reports. Piper Sandler reduced their price target on Voya Financial from $84.00 to $83.00 and set an “overweight” rating on the stock in a research note on Thursday, August 3rd. Wells Fargo & Company dropped their target price on Voya Financial from $91.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. Citigroup boosted their target price on Voya Financial from $85.00 to $86.00 and gave the stock a “buy” rating in a report on Friday, August 11th. Morgan Stanley dropped their target price on Voya Financial from $85.00 to $84.00 and set an “overweight” rating on the stock in a report on Wednesday, November 1st. Finally, JPMorgan Chase & Co. dropped their target price on Voya Financial from $96.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Voya Financial currently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Insider Buying and Selling at Voya Financial

In other Voya Financial news, insider Tony D. Oh sold 714 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $68.02, for a total value of $48,566.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.44% of the stock is owned by corporate insiders.

Voya Financial Company Profile

Voya Financial, Inc operates as a retirement, investment, and employee benefits company in the United States. Its Wealth Solutions segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and services, as well as financial planning and advisory services.