The Vanguard Group, Inc. recently announced the acquisition of new stake in Voya Financial Inc. (NYSE:VOYA). The institutional investor has increased its shareholding in the Financial company by 4.04% to 9.77 million shares with purchase of 0.38 million shares. This fresh investment now brings its stake to 10.05% valued currently at $747.43 million. In addition, Wellington Management Co. LLP raised its holdings by 1.1 million to 7.95 million shares. And Newton Investment Management Nort has lifted its position by 63.41% or 1.43 million shares – to 3.69 million shares.
With over 1.27 million Voya Financial Inc. (VOYA) shares trading Tuesday and a closing price of $69.54 on the day, the dollar volume was approximately $88.44 million. The shares have shown a positive half year performance of 9.27% and its price on 05/23/23 lost nearly -1.84%. Currently, there are 97.70M common shares owned by the public and among those 82.60M shares have been available to trade.
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The analysts have set the share’s price value over the next 12 months at a high of $90.00 and a low of $71.00. The average price target is 16.51% above its recent price level and an upside to the estimated low will see the stock gain 2.06% over that period. But an upside of 22.73% will see the stock hit the forecast high price target while median target price for the stock is $84.00.
Insiders at the company have transacted a total of 119 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 50 of these insider trades were purchases, accounting for 316,598 shares. Insider sales of the common stock occurred on 69 occasions, with total insider shares sold totaling 511,371 shares.
The top 3 mutual fund holders in Voya Financial Inc. are Vanguard Windsor Funds – Vanguard, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market ETF. Vanguard Windsor Funds – Vanguard owns 4.85 million shares of the company’s stock, all valued at over $371.16 million. The company sold 68271.0 shares recently to bring their total holdings to about 4.99% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 10811.0 shares to see its total holdings expand to 3.03 million shares valued at over $231.5 million and representing 3.11% of the shares outstanding. Vanguard Total Stock Market ETF bought 15311.0 shares to bring its total holdings to over 3.01 million shares at a value of $230.26 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.09% of the shares outstanding.
Shares of Voya Financial Inc. (NYSE: VOYA) opened at $70.46, down -$0.38 from a prior closing price of $70.84. However, the script later moved the day high at 70.95, down -1.84%. The company’s stock has a 5-day price change of 0.71% and -5.18% over the past three months. VOYA shares are trading 13.09% year to date (YTD), with the 12-month market performance up to 10.45% higher. It has a 12-month low price of $56.20 and touched a high of $78.11 over the same period. VOYA has an average intraday trading volume of 1.94 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.92%, -2.25%, and 3.66% respectively.
Institutional ownership of Voya Financial Inc. (NYSE: VOYA) shares accounts for 117.72% of the company’s 97.70M shares outstanding. Mutual fund holders own 66.71%, while other institutional holders and individual stakeholders account for 84.04% and 49.75% respectively.
It has a market capitalization of $6.89B and a beta (3y monthly) value of 1.16. The stock’s trailing 12-month PE ratio is 14.48, while the earnings-per-share (ttm) stands at $4.80. The company has a PEG of 9.45 and the debt-to-equity ratio at 0.57. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.00% over the week and 2.47% over the month.
Analysts forecast that Voya Financial Inc. (VOYA) will achieve an EPS of $2.03 for the current quarter, $2.09 for the next quarter and $9.24 for 2024. The lowest estimate earnings-per-share for the quarter is $1.7 while analysts give the company a high EPS estimate of $2.25. Comparatively, EPS for the current quarter was $1.67 a year ago. Earnings per share for the fiscal year are expected to decrease by -74.00%, and 16.94% over the next financial year. EPS should shrink at an annualized rate of 1.53% over the next five years, compared to 37.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Voya Financial Inc. (VOYA) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 3 of the 17 advise that investors “hold,” and 0 rated it as a “Sell.”
