Voya Financial Inc (VOYA) Sees Large Growth in Short Interest
Voya Financial Inc (NYSE:VOYA) was the target of a large growth in short interest during the month of December. As of December 29th, there was short interest totalling 19,969,394 shares, a growth of 64.4% from the December 15th total of 12,144,466 shares. Based on an average trading volume of 2,352,682 shares, the days-to-cover ratio is presently 8.5 days. Approximately 11.1% of the shares of the stock are sold short.
Institutional investors and hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank boosted its holdings in shares of Voya Financial by 7.9% in the 2nd quarter. Toronto Dominion Bank now owns 2,728 shares of the asset manager’s stock worth $101,000 after purchasing an additional 199 shares in the last quarter. Reliance Trust Co. of Delaware purchased a new stake in Voya Financial during the 3rd quarter valued at about $215,000. IFM Investors Pty Ltd purchased a new stake in Voya Financial during the 3rd quarter valued at about $254,000. Private Advisor Group LLC purchased a new stake in Voya Financial during the 3rd quarter valued at about $274,000. Finally, Stephens Inc. AR purchased a new stake in Voya Financial during the 3rd quarter valued at about $273,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.
A number of brokerages have weighed in on VOYA. BTIG Research restated a “buy” rating and issued a $59.00 target price on shares of Voya Financial in a research note on Tuesday, January 2nd. Deutsche Bank began coverage on Voya Financial in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $59.00 target price on the stock. Wells Fargo & Co set a $58.00 target price on Voya Financial and gave the stock a “buy” rating in a research note on Thursday, December 28th. Evercore ISI upgraded Voya Financial to a “buy” rating and set a $60.00 target price on the stock in a research note on Wednesday, December 27th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $55.00 target price on shares of Voya Financial in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $52.18.
Voya Financial (NYSE:VOYA) last posted its quarterly earnings data on Tuesday, October 31st. The asset manager reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.39). Voya Financial had a positive return on equity of 3.92% and a negative net margin of 3.64%. The firm had revenue of $226.50 million during the quarter, compared to analysts’ expectations of $322.92 million. During the same quarter in the previous year, the company posted ($1.24) earnings per share. equities analysts predict that Voya Financial will post 2.93 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date of this dividend was Wednesday, November 29th. Voya Financial’s payout ratio is currently -2.25%.
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About Voya Financial
Voya Financial, Inc is a retirement, investment and insurance company. The Company operates through five segments: Retirement, Investment Management, Annuities, Individual Life and Employee Benefits. The Retirement segment is a provider of retirement services and products in the United States. The Investment Management segment offers domestic and international fixed income, equity, multi-asset and alternatives products and solutions.
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