Davis Capital Management Has $1.34 Million Stock Holdings in Voya Financial, Inc. (NYSE:VOYA)

Davis Capital Management increased its stake in shares of Voya Financial, Inc. (NYSE:VOYA) by 5.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,839 shares of the asset manager’s stock after acquiring an additional 960 shares during the period. Voya Financial comprises about 1.2% of Davis Capital Management’s portfolio, making the stock its 27th largest position. Davis Capital Management’s holdings in Voya Financial were worth $1,340,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in VOYA. SYSTM Wealth Solutions LLC grew its position in Voya Financial by 56.2% in the first quarter. SYSTM Wealth Solutions LLC now owns 414 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 149 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new stake in shares of Voya Financial during the 1st quarter worth about $43,000. Venturi Wealth Management LLC lifted its stake in shares of Voya Financial by 213.2% during the 1st quarter. Venturi Wealth Management LLC now owns 595 shares of the asset manager’s stock worth $44,000 after buying an additional 405 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Voya Financial during the 4th quarter worth about $49,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Voya Financial by 6,850.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 834 shares of the asset manager’s stock worth $62,000 after buying an additional 822 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors and hedge funds.

Voya Financial Price Performance

Shares of NYSE:VOYA traded down $2.27 during midday trading on Friday, hitting $68.12. The stock had a trading volume of 1,027,620 shares, compared to its average volume of 792,448. The company has a market capitalization of $6.86 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 0.48 and a beta of 1.05. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $72.55 and its 200-day moving average price is $71.32. Voya Financial, Inc. has a fifty-two week low of $63.02 and a fifty-two week high of $76.75.

Voya Financial (NYSE:VOYA) last announced its quarterly earnings results on Tuesday, July 30th. The asset manager reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.13. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.87 billion. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.31 EPS. As a group, equities research analysts predict that Voya Financial, Inc. will post 8.45 EPS for the current fiscal year.

Voya Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, August 27th will be paid a $0.45 dividend. This is a positive change from Voya Financial’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Tuesday, August 27th. Voya Financial’s dividend payout ratio is currently 22.73%.

Insider Activity

In other news, Director Yvette S. Butler sold 2,165 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $73.78, for a total value of $159,733.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VOYA. Wells Fargo & Company raised their target price on shares of Voya Financial from $91.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Evercore ISI raised their target price on shares of Voya Financial from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Citigroup lifted their price objective 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. Morgan Stanley cut shares of Voya Financial from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $79.00 to $76.00 in a research note on Thursday. Finally, Jefferies Financial Group lifted their price objective on shares of Voya Financial from $78.00 to $80.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

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.