Oh Tony D, Senior Vice President and Chief Accounting Officer at Voya Financial, Inc. (NYSE:VOYA), recently sold 715 shares of the company's common stock. The shares were sold on November 6, 2024, at a weighted average price of $81.9451, totaling approximately $58,590. Following this transaction, Oh Tony D no longer holds any shares of common stock directly.
In addition to the sale, the report indicates that Oh Tony D holds 6,187 Performance Stock Units and 7,694 Restricted Stock Units, both of which are set to convert to common stock based on certain performance criteria. These units are part of compensation packages and reflect potential future ownership contingent on performance achievements.
In other recent news, Voya Financial has demonstrated robust development in its earnings and revenue. The company's adjusted operating earnings per share (EPS) for the third quarter of 2024 increased by 9% year-over-year, reaching $1.90. The Wealth Solutions and Investment Management sectors reported growth of nearly 20% and over 10% respectively. Despite facing challenges in the Health Solutions sector, Voya Financial acquired OneAmerica's retirement business, a move anticipated to boost pretax operating earnings by at least $75 million in its first year.
Piper Sandler, a notable analyst firm, has shown confidence in Voya Financial's future prospects, despite recent headwinds. The firm increased the stock target to $91 from the previous $88, maintaining an Overweight rating on the company's shares. This adjustment reflects an increased multiple of the estimated 2025 earnings, influenced by higher peer group multiples.
These recent developments underline Voya's strategic initiatives to drive growth and return value to shareholders. The company also announced plans to return $800 million in excess capital to shareholders in 2024. However, it's important to note that the Health Solutions sector faced obstacles, leading Voya to strategize improvements in margins by 2025.
InvestingPro Insights
While Oh Tony D's recent stock sale might raise eyebrows, it's essential to consider Voya Financial's overall financial health and market performance. According to InvestingPro data, Voya's market capitalization stands at $7.9 billion, with a price-to-earnings (P/E) ratio of 12.69, suggesting a relatively modest valuation compared to some industry peers.
Notably, Voya Financial has demonstrated strong financial performance, with revenue growth of 11.07% over the last twelve months as of Q3 2024, reaching $7.86 billion. This growth is complemented by a robust gross profit margin of 53.43%, indicating efficient cost management.
InvestingPro Tips highlight that Voya's management has been aggressively buying back shares, which could be seen as a vote of confidence in the company's future prospects. Additionally, Voya has maintained dividend payments for 12 consecutive years and has raised its dividend for 6 consecutive years, showcasing a commitment to shareholder returns.
The company's stock has shown impressive momentum, with a 28.27% price total return over the past three months and is trading near its 52-week high. This performance aligns with the InvestingPro Tip indicating a strong return over the last three months.
For investors seeking a more comprehensive analysis, InvestingPro offers 10 additional tips for Voya Financial, providing deeper insights into the company's financial health and market position. These tips can be particularly valuable in contextualizing executive stock transactions like Oh Tony D's recent sale.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.