Confluence Wealth Services Inc. Makes New $465,000 Investment in Voya Financial, Inc. (NYSE:VOYA)

Confluence Wealth Services Inc. bought a new position in shares of Voya Financial, Inc. (NYSE:VOYA) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,293 shares of the asset manager’s stock, valued at approximately $465,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Voya Financial during the 4th quarter worth $80,749,000. Vanguard Group Inc. increased its position in Voya Financial by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 10,465,556 shares of the asset manager’s stock worth $695,436,000 after purchasing an additional 752,851 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in Voya Financial by 1,722.3% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 612,754 shares of the asset manager’s stock valued at $40,718,000 after purchasing an additional 579,128 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in Voya Financial by 405.2% in the third quarter. Qube Research & Technologies Ltd now owns 314,293 shares of the asset manager’s stock valued at $20,885,000 after buying an additional 252,087 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Voya Financial by 141.0% during the third quarter. AQR Capital Management LLC now owns 315,982 shares of the asset manager’s stock worth $20,997,000 after buying an additional 184,864 shares during the last quarter. Institutional investors own 96.10% of the company’s stock.

Analyst Ratings Changes

VOYA has been the subject of several analyst reports. Royal Bank of Canada lowered their price target on shares of Voya Financial from $85.00 to $83.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Evercore ISI boosted their target price on shares of Voya Financial from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Morgan Stanley dropped their target price on Voya Financial from $79.00 to $78.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Wells Fargo & Company lifted their price objective on shares of Voya Financial from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $82.00 target price on shares of Voya Financial in a report on Monday, January 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.50.

Voya Financial Stock Performance

Voya Financial stock traded down $0.91 during mid-day trading on Tuesday, reaching $68.16. The company’s stock had a trading volume of 1,081,516 shares, compared to its average volume of 892,358. The firm’s fifty day moving average price is $69.73 and its two-hundred day moving average price is $70.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.30 and a current ratio of 0.30. Voya Financial, Inc. has a 12-month low of $63.02 and a 12-month high of $77.28. The company has a market capitalization of $6.91 billion, a P/E ratio of 12.71, a PEG ratio of 0.46 and a beta of 1.06.

Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, February 6th. The asset manager reported $1.97 EPS for the quarter, topping the consensus estimate of $1.95 by $0.02. Voya Financial had a return on equity of 16.60% and a net margin of 8.51%. The business had revenue of $236.00 million during the quarter, compared to the consensus estimate of $304.66 million. Sell-side analysts predict that Voya Financial, Inc. will post 8.39 EPS for the current fiscal year.

Voya Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Tuesday, May 28th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.35%. The ex-dividend date is Friday, May 24th. Voya Financial’s payout ratio is 29.47%.

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.