Voya Financial jumps as activist investor reportedly pushes company to explore a sale

Voya Financial (VOYA) is up 5.7% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to renewed takeover speculation after a media report said activist investor Toms Capital Investment Management is urging Voya to explore strategic alternatives, including a potential sale. The rally may also be getting incremental support from Voya’s ongoing capital-return messaging ahead of its next earnings update.

Details:

A media report said Toms Capital Investment Management has built a position in Voya and is pressing the company to consider selling itself or divesting parts of the business.

The same report indicated the activist view is that Voya’s health benefits insurance-related operations have weighed on the broader company’s valuation.

In an April 8, 2026 Form 8-K, Voya disclosed preliminary expectations for first-quarter 2026 alternative investment income and noted ongoing share repurchases.

That 8-K also stated Voya expects to release results for the quarter ended March 31, 2026 on May 5, 2026, which can heighten sensitivity to pre-earnings updates and positioning.

Sources:

SEC, Investing.com, MarketScreener

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$VOYA Insider Trading Activity

$VOYA insiders have traded $VOYA stock on the open market 4 times in the past 6 months. Of those trades, 0 have been purchases and 4 have been sales.

Here’s a breakdown of recent trading of $VOYA stock by insiders over the last 6 months:

TREVOR OGLE (See Remarks) has made 0 purchases and 2 sales selling 10,225 shares for an estimated $739,856.
TONY D OH (See Remarks) has made 0 purchases and 2 sales selling 4,232 shares for an estimated $310,916.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

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$VOYA Hedge Fund Activity

We have seen 210 institutional investors add shares of $VOYA stock to their portfolio, and 206 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 4,207,147 shares (-73.5%) from their portfolio in Q4 2025, for an estimated $313,390,380
VERDAD ADVISERS, LP added 2,000,000 shares (+inf%) to their portfolio in Q4 2025, for an estimated $148,980,000
ROYAL BANK OF CANADA removed 1,914,600 shares (-96.3%) from their portfolio in Q4 2025, for an estimated $142,618,554
WOODLINE PARTNERS LP removed 1,191,884 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $88,783,439
BLACKROCK, INC. removed 751,569 shares (-7.3%) from their portfolio in Q4 2025, for an estimated $55,984,374
MACQUARIE GROUP LTD removed 688,923 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $51,317,874
AMERIPRISE FINANCIAL INC removed 547,449 shares (-16.8%) from their portfolio in Q4 2025, for an estimated $40,779,476

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$VOYA Analyst Ratings

Wall Street analysts have issued reports on $VOYA in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

RBC Capital issued a "Outperform" rating on 11/19/2025
Keefe, Bruyette & Woods issued a "Outperform" rating on 11/11/2025

To track analyst ratings and price targets for $VOYA, check out Quiver Quantitative's $VOYA forecast page.

$VOYA Price Targets

Multiple analysts have issued price targets for $VOYA recently. We have seen 9 analysts offer price targets for $VOYA in the last 6 months, with a median target of $86.0.

Here are some recent targets:

Joshua Shanker from B of A Securities set a target price of $70.0 on 04/14/2026
Wesley Carmichael from Wells Fargo set a target price of $80.0 on 04/10/2026
Ryan Krueger from Keefe, Bruyette & Woods set a target price of $81.0 on 04/10/2026
Michael Ward from UBS set a target price of $87.0 on 04/09/2026
Alex Scott from Barclays set a target price of $87.0 on 04/08/2026
Bob Huang from Morgan Stanley set a target price of $86.0 on 03/03/2026
Kenneth S. Lee from RBC Capital set a target price of $87.0 on 02/09/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.