Meeder Asset Management Inc. Takes $597,000 Position in Voya Financial, Inc. (NYSE:VOYA)

Meeder Asset Management Inc. purchased a new position in Voya Financial, Inc. (NYSE:VOYA) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,534 shares of the asset manager’s stock, valued at approximately $597,000.

Several other institutional investors and hedge funds have also bought and sold shares of VOYA. V Square Quantitative Management LLC bought a new stake in shares of Voya Financial during the 3rd quarter valued at $29,000. UMB Bank n.a. boosted its stake in Voya Financial by 118.9% during the third quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock worth $35,000 after acquiring an additional 239 shares in the last quarter. Quarry LP purchased a new stake in Voya Financial in the second quarter worth about $61,000. Allspring Global Investments Holdings LLC increased its stake in shares of Voya Financial by 6,850.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 822 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Voya Financial by 3,640.9% during the third quarter. Blue Trust Inc. now owns 823 shares of the asset manager’s stock valued at $65,000 after purchasing an additional 801 shares during the last quarter. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VOYA shares. Barclays upped their price target on Voya Financial from $84.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Piper Sandler raised their price target on Voya Financial from $88.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. UBS Group upgraded shares of Voya Financial to a “strong-buy” rating in a research note on Monday, November 11th. Morgan Stanley reduced their price objective on shares of Voya Financial from $76.00 to $75.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Finally, Citigroup upped their target price on shares of Voya Financial from $86.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Voya Financial Stock Down 1.6 %

VOYA opened at $79.99 on Wednesday. The firm’s 50 day simple moving average is $79.72 and its two-hundred day simple moving average is $74.35. The company has a market capitalization of $7.70 billion, a PE ratio of 12.74, a PEG ratio of 0.58 and a beta of 1.03. Voya Financial, Inc. has a 1-year low of $63.11 and a 1-year high of $84.30. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54.

Voya Financial (NYSE:VOYA) last released its earnings results on Monday, November 4th. The asset manager reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.07. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.86 billion. Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. Voya Financial’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 earnings per share. As a group, equities analysts forecast that Voya Financial, Inc. will post 8.2 EPS for the current year.

Voya Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, November 26th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.25%. The ex-dividend date is Tuesday, November 26th. Voya Financial’s dividend payout ratio is 28.66%.

Insiders Place Their Bets

In other Voya Financial news, insider Tony D. Oh sold 715 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total value of $58,594.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.37% of the stock is owned by company insiders.

About Voya Financial

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.