646 lodi
BEIJING, Dec. 12, 2024 (GLOBE NEWSWIRE) -- 17 Education & Technology Group Inc. (NASDAQ: YQ) (“17EdTech” or the “Company”), a leading education technology company in China, today announced its unaudited financial results for the third quarter of 2024. Third Quarter 2024 Highlights 1 Net revenues were RMB59.6 million (US$8.5 million), compared with net revenues of RMB45.1 million in the third quarter of 2023. Gross margin was 60.9%, compared with 54.1% in the third quarter of 2023. Net loss was RMB17.4 million (US$2.5 million), compared with net loss of RMB72.9 million in the third quarter of 2023. Net loss as a percentage of net revenues was negative 29.2% in the third quarter of 2024, compared with negative 161.6% in the third quarter of 2023. Adjusted net loss 2 (non-GAAP) , which excluded share-based compensation expenses of RMB11.7 million (US$1.7 million), was RMB5.7 million (US$0.8 million), compared with adjusted net loss (non-GAAP) of RMB53.7 million in the third quarter of 2023. Adjusted net loss (non-GAAP) as a percentage of net revenues was negative 9.5% in the third quarter of 2024, compared with negative 119.1% adjusted net loss (non-GAAP) as a percentage of net revenues in the third quarter of 2023. First Nine Months 2024 Highlights Net revenues were RMB152.6 million (US$21.7 million), compared with net revenues of RMB123.6 million in the first nine months of 2023. Gross margin was 37.3%, compared with 48.6% in the first nine months of 2023. Net loss was RMB129.2 million (US$18.4 million), compared with net loss of RMB213.3 million in the first nine months of 2023. Net loss as a percentage of net revenues was negative 84.6% in the first nine months of 2024, compared with negative 172.6% in the first nine months of 2023. Adjusted net loss (non-GAAP) , which excluded share-based compensation expenses of RMB38.2 million (US$5.5 million), was RMB90.9 million (US$13.0 million), compared with adjusted net loss (non-GAAP) of RMB146.3 million in the first nine months of 2023. Adjusted net loss (non-GAAP) as a percentage of net revenues was negative 59.6% in the first nine months of 2024, compared with negative 118.3% of adjusted net loss (non-GAAP) as a percentage of net revenues in the first nine months of 2023. Mr. Andy Liu, Founder, Chairman and Chief Executive Officer of the Company commented, “In the third quarter of 2024, we have continued our business progress and have seen consistent growth in school subscribing to our teaching and learning SaaS offerings under subscription model. This is a strong testimony in the value of our offerings and creates a clear growth path into the future.” “We continue to evolve our teaching and learning SaaS solutions and expand customer base to improve efficiency through digital means, ensuring high-quality development and fostering growth in the school-based procurement,” he added. Mr. Michael Du, Director and Chief Financial Officer of the Company commented, “During the quarter, our teaching and learning SaaS business saw revenue growth compared to the same quarter last year. As we enhance operating efficiency, net loss on a GAAP basis continued to narrow for the past three consecutive quarters. As our SaaS billing model is maturing, we achieved significant progress with a remarkable growth rate that outpaces the overall revenue growth.” Third Quarter 2024 Unaudited Financial Results Net Revenues Net revenues for the third quarter of 2024 were RMB59.6 million (US$8.5 million), representing a year-over-year increase of 32.2% from RMB 45.1 million in the third quarter of 2023. This was mainly due to the increased number of teaching and learning SaaS contracts and the recurring revenue generated from on-going projects. Cost of Revenues Cost of revenues for the third quarter of 2024 was RMB23.3 million (US$3.3 million), representing a year-over-year increase of 12.5% from RMB20.7 million in the third quarter of 2023, which was mainly due to the increase in project deliveries for our teaching and learning SaaS offerings during the quarter. Gross Profit and Gross Margin Gross profit for the third quarter of 2024 was RMB36.3 million (US$5.2 million), compared with RMB24.4 million in the third quarter of 2023. Gross margin for the third quarter of 2024 was 60.9%, compared with 54.1% in the third quarter of 2023. Total Operating Expenses The following table sets forth a breakdown of operating expenses by amounts and percentages of revenue during the periods indicated (in thousands, except for percentages): Total operating expenses for the third quarter of 2024 were RMB58.0 million (US$8.3 million), including RMB11.7 million (US$1.7 million) of share-based compensation expenses, representing a year-over-year decrease of 43.7% from RMB103.1 million in the third quarter of 2023. Sales and marketing expenses for the third quarter of 2024 were RMB20.2 million (US$2.9 million), including RMB1.9 million (US$0.3 million) of share-based compensation expenses, representing a year-over-year decrease of 27.6% from RMB27.9 million in the third quarter of 2023. This was mainly due to the decrease in the share-based compensation and efficiency improvements in marketing and sales work force and expenses compared with the same period last year. Research and development expenses for the third quarter of 2024 were RMB12.8 million (US$1.8 million), including RMB3.5 million (US$0.5 million) of share-based compensation expenses, representing a year-over-year decrease of 72.2% from RMB45.9 million in the third quarter of 2023. The decrease was primarily due to the decrease in the share-based compensation and efficiency improvements in our research and development work force and expenses. General and administrative expenses for the third quarter of 2024 were RMB25.0 million (US$3.6 million), including RMB6.4 million (US$0.9 million) of share-based compensation expenses, compared with RMB29.2 million in the third quarter of 2023. This was mainly due to the decrease in the office and professional service fees compared with the same period last year. Loss from Operations Loss from operations for the third quarter of 2024 was RMB21.6 million (US$3.1 million), compared with RMB78.7 million in the third quarter of 2023. Loss from operations as a percentage of net revenues for the third quarter of 2024 was negative 36.3%, compared with negative 174.4% in the third quarter of 2023. Net Loss Net loss for the third quarter of 2024 was RMB17.4 million (US$2.5 million), compared with net loss of RMB72.9 million in the third quarter of 2023. Net loss as a percentage of net revenues was negative 29.2% in the third quarter of 2024, compared with negative 161.6% in the third quarter of 2023. Adjusted Net Loss (non-GAAP) Adjusted net loss (non-GAAP) for the third quarter of 2024 was RMB5.7 million (US$0.8 million), compared with adjusted net loss (non-GAAP) of RMB53.7 million in the third quarter of 2023. Adjusted net loss (non-GAAP) as a percentage of net revenues was negative 9.5% in the third quarter of 2024, compared with negative 119.1% of adjusted net loss (non-GAAP) as a percentage of net revenues in the third quarter of 2023. Please refer to the table captioned “Reconciliations of non-GAAP measures to the most comparable GAAP measures” at the end of this press release for a reconciliation of net loss under U.S. GAAP to adjusted net loss (non-GAAP). Cash and Cash Equivalents and Term Deposit Cash and cash equivalents and term deposit were RMB339.7 million (US$48.4 million) as of September 30, 2024, compared with RMB476.7 million as of December 31, 2023. Conference Call Information The Company will hold a conference call on Wednesday, December 11, 2024 at 8:00 p.m. U.S. Eastern Time (Thursday, December 12, 2024 at 9:00 a.m. Beijing time) to discuss the financial results for the third quarter of 2024. Please note that all participants will need to preregister for the conference call participation by navigating to https://register.vevent.com/register/BIcb0cb8cc902d426b9cbd52d075f15685 . Upon registration, you will receive an email containing participant dial-in numbers, and PIN number. To join the conference call, please dial the number you receive, enter the PIN number, and you will be joined to the conference call instantly. Additionally, a live and archived webcast of this conference call will be available at https://ir.17zuoye.com/ . Non-GAAP Financial Measures 17EdTech’s management uses adjusted net income (loss) as a non-GAAP financial measure to gain an understanding of 17EdTech’s comparative operating performance and future prospects. Adjusted net income (loss) represents net loss excluding share-based compensation expenses and such adjustment has no impact on income tax. Adjusted net income (loss) is used by 17EdTech’s management in their financial and operating decision-making as a non-GAAP financial measure; because management believes it reflects 17EdTech’s ongoing business and operating performance in a manner that allows meaningful period-to-period comparisons. 17EdTech’s management believes that such non-GAAP measure provides useful information to investors and others in understanding and evaluating 17EdTech’s operating performance in the same manner as management does, if they so choose. Specifically, 17EdTech believes the non-GAAP measure provides useful information to both management and investors by excluding certain charges that the Company believes are not indicative of its core operating results. The non-GAAP financial measure has limitations. It does not include all items of income and expense that affect 17EdTech’s income from operations. Specifically, the non-GAAP financial measure is not prepared in accordance with GAAP, may not be comparable to non-GAAP financial measures used by other companies and, with respect to the non-GAAP financial measure that excludes certain items under GAAP, does not reflect any benefit that such items may confer to 17EdTech. Management compensates for these limitations by also considering 17EdTech’s financial results as determined in accordance with GAAP. The presentation of this additional information is not meant to be considered superior to, in isolation from or as a substitute for results prepared in accordance with US GAAP. Exchange Rate Information The Company’s business is primarily conducted in China and all of the revenues are denominated in Renminbi (“RMB”). However, periodic reports made to shareholders will include current period amounts translated into U.S. dollars (“USD” or “US$”) using the exchange rate as of balance sheet date, for the convenience of the readers. Translations of balances in the consolidated balance sheets and the related consolidated statements of operations, comprehensive loss, change in shareholders’ deficit and cash flows from RMB into USD as of and for the three months ended September 30, 2024 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB7.0176 representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on September 30, 2024. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on September 30, 2024, or at any other rate. About 17 Education & Technology Group Inc. 17 Education & Technology Group Inc. is a leading education technology company in China, offering smart in-school classroom solution that delivers data-driven teaching, learning and assessment products to teachers, students and parents. Leveraging its extensive knowledge and expertise obtained from in-school business over the past decade, the Company provides teaching and learning SaaS offerings to facilitate the digital transformation and upgrade at Chinese schools, with a focus on improving the efficiency and effectiveness of core teaching and learning scenarios such as homework assignments and in-class teaching. The product utilizes the Company’s technology and data insights to provide personalized and targeted learning and exercise content that is aimed at improving students’ learning efficiency. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about 17EdTech’s beliefs and expectations, are forward-looking statements. 17EdTech may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: 17EdTech’s growth strategies; its future business development, financial condition and results of operations; its ability to continue to attract and retain users; its ability to carry out its business and organization transformation, its ability to implement and grow its new business initiatives; the trends in, and size of, China’s online education market; competition in and relevant government policies and regulations relating to China's online education market; its expectations regarding demand for, and market acceptance of, its products and services; its expectations regarding its relationships with business partners; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in 17EdTech’s filings with the SEC. All information provided in this press release is as of the date of this press release, and 17EdTech does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: 17 Education & Technology Group Inc. Ms. Lara Zhao Investor Relations Manager E-mail: ir@17zuoye.com
ATLANTA (AP) — Jalen Johnson scored 28 points and the Atlanta Hawks closed out a four-game homestand, winning a third straight contest, 120-110 over the Miami Heat on Saturday. Trae Young added his 22nd double-double of the season, with 11 point and 15 assist, and De’Andre Hunter scored 26 points in his 14th consecutive game with at least 15 points coming off the bench. Tyler Herro scored 28 points and dished out 10 assists and Bam Adebayo added 17 points and 10 rebounds. It was the Heat’s fourth game in a row without star Jimmy Butler , who sat out for what the team called “return to competition reconditioning.” Takeaways Heat: Miami lost despite five players finishing with double-digit point totals. The Heat shot 44.4% from the field, but it wasn’t enough to overcome a Hawks team that hit over half of its shots, 51.2% from the field. Hawks: Johnson has been on an offensive tear in his last two games. He finished two points shy of his single-game career high of 30 points, set in his last game, on Thursday against the Chicago Bulls. Hunter also finished just one point shy of his single-game career high of 27 points. Key moment After a close first half that featured nine lead changes, Atlanta seized control early in the second half. With five minutes to go in the third quarter, Atlanta’s Garrison Mathews and Hunter hit back-to-back 3s to give Atlanta an 81-72 lead, their biggest of the night, and forcing a Miami timeout. Key stat Young finished one assist shy of a franchise single-game record for assists against the Miami Heat, set by Mookie Blaylock in 1993. Up next The Hawks begin a six-game road trip in Toronto on Sunday, while the Heat visits the Rockets on Sunday. ___ AP NBA: https://apnews.com/hub/NBA
Colorado U.S. Rep. Lauren Boebert broke new ground over the weekend when she became the first sitting member of Congress to offer personalized messages for sale — starting at $250 — through the video platform Cameo . The Windsor Republican, who won election to a new congressional seat this month after moving across the state, started the account Saturday. The website allows customers to buy personalized video messages from celebrities. On Monday morning, Boebert advertised her messages starting at $250, though she stopped taking requests by 10:45 a.m. mountain time. “Whether you or someone you know needs an America-first pep talk, if you want to surprise friends or family with a message for a special day, or if you just want to know my thoughts on whatever’s on your mind, Cameo is the place to connect with me,” Boebert says in an introductory video. Brandon Kazimer, a Cameo spokesperson, confirmed that the account belonged to Boebert. Boebert’s office declined to comment Monday. Kazimer said she’s the first sitting member of Congress to sign up for the service as talent. At least two other former members of Congress, George Santos of New York and Matt Gaetz of Florida, have sold videos on the platform. Santos joined Cameo soon after he was expelled from Congress last year over allegations he exploited office for personal financial gain. Gaetz, who is a friend of Boebert’s, joined the service Friday, days after he withdrew his nomination by President-elect Donald Trump to be the U.S. attorney general following allegations that he paid a teenage girl for sex. Boebert does not appear to have advertised the service on her other social media accounts on X or Facebook. Congressional rules will limit how much Boebert can earn from the videos. In 2023, members were limited to making $31,815 in outside income beyond their annual $174,000 salaries. She will have to report any earnings from Cameo on her annual disclosures. The law also prohibits people from using their public office to make outside money, said Kedric Payne, a vice president and senior director of ethics for the Campaign Legal Center. Ultimately, the restriction is meant to give voters confidence that elected officials aren’t using public office for personal gain — or putting that gain ahead of their public service. Boebert describes herself on Cameo as “Not your typical Colorado Republican politician. Jesus loving, Constitutionalist, America first, freedom fighter.” An earlier version of her Cameo page listed Boebert as a politician and categorized her as a political commentator, but it was updated to list her under the influencers category. Because she doesn’t use her title or appear to use other facets of her public job for the videos, such as filming in her congressional office, “that should take away any concern she’s trying to use her public job for personal gain,” Payne said. He added that the limit on outside income also anticipates these kinds of problems by limiting the incentive for members to spend more effort on outside business ventures than their public service. But, he noted, people can cross that line quickly if it’s not clear if they’re acting in their public or private capacity. The earned income that’s subject to the annual cap is considered separate from passive income made through things like stock market investments, Payne said, because it is actively made by selling goods and services. “We’ll be watching to see if this becomes a trend,” Payne said of the Cameo side work. “If this is just a one-off where someone does this for a month or so, that’s one thing — but if it becomes a trend, where members of Congress are trying to act as influencers and get paid, that could point to a bigger problem.” Stay up-to-date with Colorado Politics by signing up for our weekly newsletter, The Spot.
Norwegian shipping technology company CryoVac has received an Approval in Principle (AiP) from classification society DNV for its vacuum insulation system for liquid hydrogen (LH2) – thereby bringing shipping of LH2 one step closer to realization. “The AiP is an important milestone for CryoVac in bringing our vacuum insulation system to the market and start engaging with shipowners and ship designers that wish to become frontrunners within shipping of liquid hydrogen,” says Aage Bjørn Andersen, CEO of CryoVac. CryoVac’s solution is based on cryogenic hydrogen storage, which involves cooling hydrogen to extremely low temperatures (around −253°C). A significant challenge is to maintain this temperature. Another challenge with transporting liquid hydrogen at such low temperature is that it can lead to embrittlement of steel, which in turn can result in loss of tensile strength, flexibility and fracture toughness. To solve these problems, Norway-based CryoVac has developed the world’s first LH2 containment design that uses prismatic tanks for ship transport of liquid hydrogen, where its proprietary CryoPan hexagonal vacuum insulation panel plays a key role. The CryoVac approach comprises an externally insulated IMO Type B-inspired self-supporting prismatic tank positioned in an inert and insulated hold. CryoPan vacuum insulation panels are then welded together and applied to both the tank as well as the hold surfaces. “Our hexagonal vacuum panels are welded together into continuous surfaces and configured to form a hybrid insulation system allowing simple prismatic tanks to be applied for LH2 carriage. This provides efficient insulation with very low boil-off rate, without challenging the integrity of the steel,” adds Aage Bjørn Andersen. CryoVac has received Approval in Principle (AiP) by DNV for its vacuum insulation system for LH2. The AiP means that the system has been assessed by DNV and found to comply with the current rules of the class society and applicable statutory regulations. Further, it confirms that the design is feasible and that no significant obstacles exist to prevent it from being realized. Trond Berntzen, Head of Department, Gas Technology, Piping & Safety, DNV Maritime, said: ” It is exciting to see solutions such as the one developed by CryoVac, which provides an innovative approach to storing and transporting liquid hydrogen. As a knowledge organization, there is nothing better than collaborating on such innovative development projects and helping to ensure these solutions can be safely implemented and applied.” DNV is the world’s leading classification society and a recognized advisor for the maritime industry Next step: 45,000 cbm LH2 carrier The CryoVac containment system is developed for optimal volume utilization and modular versatility allowing for a range of cargo capacities based on a core tank/ hold arrangement. The next step for CryoVac is to develop a 45.000 cbm, long-haul LH2 carrier comprising three cargo holds each holding a 15.000 cbm tank. To achieve this, CryoVac will continue to collaborate with DNV into the General Approval for Ship Application (GASA). The intention is that the vessel will both transport liquid hydrogen and run on hydrogen, enabling zero-emission shipping. “There is a lot of interest worldwide for a safe and cost-efficient solution for shipping of liquid hydrogen. This is the technology gap we are aiming to fill. We will going forward be entering into dialogue with shipowners and hydrogen producers that share the ambition of realizing a global supply chain for liquid hydrogen,” concludes Aage Bjørn Andersen. CryoVac is headquartered at Vikersund, located approximately one hour outside Oslo, Norway. The company also has offices in Drammen and Lillestrøm in Norway. Source: CryovacPakistan’s 5G auction faces spectrum and policy challengesLONDON : Arsenal are building momentum again after their bad patch but must maintain their resurgent form, manager Mikel Arteta said after his side's 5-2 demolition of West Ham United on Saturday. The victory lifted Arsenal back to second place in the Premier league and confirmed they have engaged top gear again after a run of four winless league games before this month's international break. Gabriel, Leandro Trossard, skipper Martin Odegaard, Kai Havertz and Bukayo Saka were all on target in a frenetic seven-goal first half at the London Stadium as Arsenal moved to 25 points, six behind Liverpool who host troubled champions Manchester City at Anfield on Sunday. "Yeah, we've got some momentum. I think we have some flow back, a real determination, winning consecutive matches against three opponents is great," Arteta, who side beat Nottingham Forest 3-0 last Saturday and then followed up by beating Sporting 5-1 away in the Champions League, told reporters. "We're going to enjoy tonight and watch a beautiful game of football tomorrow. We are in a great moment right now. "But in football be on your toes and prepare the best way possible," added the Spaniard whose side host Manchester United in the Premier League on Wednesday. The return to fitness of captain Odegaard after a long lay-off with an ankle injury has been a major boost for Arsenal, while Saka looked rejuvenated after sitting out the last England camp with a niggling injury. As well as his penalty, Saka added two more assists on Saturday, taking his tally for the season to 10 in 13 games, four more than the next best total of Mohamed Salah. "Incredible. Because it is the hardest thing to do in football, so a player who can believe in those moments can impact the scoreline in that way, you know, the value of that is tremendous," Arteta said of Saka. Saka was unplayable at times in the first half especially with Arsenal toying with their London rivals. "Today was a top performance from us and we scored a lot of goals - we are playing good football right now and we want to continue like this," he said. "We are back to our best form. We look fluid and dynamic we are all enjoying it right now. "It has been a top week for us. We have built a lot of momentum and we want to go on to the next few games."PSX gains 1,700 points, surpasses 97,000 mark
Texas AG sues NCAA to block transgender athletes in women’s sports
Indeed, there are still plenty of high-yield that can be bought and held in a range of accounts for the very long term. No one’s going to live forever, but finding stocks that one can buy and hold for a few decades is key to building a sustainable long-term investment portfolio. When looking at many of the stocks in the market right now, I find it hard to make the argument that some may be around in five year’s time, let alone a few decades down the road. That said, ( ) is one top Canadian energy stock that I think fits the bill of a “buy-and-hold” stock for an investor with a time horizon of a decade or two. This Canadian energy giant remains important to the energy independence movement in North America and is well-positioned to continue to benefit from long-term trends such as population growth over time. Here’s why Suncor looks like a top buy-and-hold pick in my books and why this stock is one investors may want to consider adding or doubling down on during future potential dips. A sustainable business model The energy sector is highly cyclical, as many investors are well aware. However, Suncor’s ability to not only withstand various commodity price cycles in this sector but also come out of these cycles better than ever is notable. Suncor is a fully integrated energy company focused on providing crude oil (mainly from the company’s oil sands operations in Western Canada), synthetic crude and natural gas, as well as refining and other marketing-related activities with respect to its energy production initiatives. The company’s ability to provide consistent output growth and higher relative oil prices in recent years has led to solid earnings growth, which the company has continued to pass on to investors in the form of rising dividends. Currently providing investors with a dividend yield of 4%, I’d make the argument that this stock is a bond proxy investors should consider for its relative growth potential (seen in the stock chart above). Strong financials indicate future dividend hikes are likely In order for any company to provide investors with consistent dividend growth, a pathway toward stable and growing earnings ought to be present. In this regard, I think Suncor is among the top energy stocks to consider at this point in the market cycle. The company has provided relatively consistent earnings growth, coming in around 3% year over year, leading analysts to provide a consensus buy target on the stock and a price target of around 20% above current levels. With a price-to-earnings ratio of around nine times (a discount of roughly 15% compared to sector peers) and strong net debt reductions of around $500 million this past quarter, the company is both improving the quality of its balance sheet and providing bottom-line growth simultaneously. This should be a recipe for continued upside in the stock, given that one of the big knocks against Suncor in the past has been the quality of its balance sheet. Can this stock provide long-term gains? It’s becoming increasingly clear that many investors are starting to catch on to Suncor’s growth potential as well as its balance sheet improvements as a key reason to buy and hold this stock at current levels. Indeed, at the company’s current valuation, significant oil price declines are already being factored into Suncor stock. Thus, I’d argue that at current levels, there’s a substantial margin of safety built into this undervalued dividend stock right now. For those seeking passive income of around 4% per year moving forward, Suncor does look like a better option to me than many fixed-income securities out there. That’s because while bond yields are heading lower in Canada, that’s not the case throughout many parts of the world (including the U.S.). And with the Canadian dollar/U.S. dollar differential remaining an issue for many companies, a weaker Canadian dollar should benefit Suncor to a greater degree than other companies over the medium term. In my view, Suncor remains a top pick in this environment for those with a near-, medium-, or long-term outlook. This is a top dividend stock I’d consider on any significant pullbacks moving forward.Kutztown falls to Slippery Rock in heartbreaking fashion in the second round of the NCAA Division II football tournament.Cerity Partners LLC decreased its holdings in shares of Voya Financial, Inc. ( NYSE:VOYA – Free Report ) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,389 shares of the asset manager’s stock after selling 1,152 shares during the quarter. Cerity Partners LLC owned about 0.05% of Voya Financial worth $3,833,000 at the end of the most recent quarter. A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VOYA. V Square Quantitative Management LLC bought a new stake in shares of Voya Financial in the third quarter valued at approximately $29,000. UMB Bank n.a. boosted its holdings in Voya Financial by 118.9% in the 3rd quarter. UMB Bank n.a. now owns 440 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 239 shares during the period. Quarry LP bought a new stake in Voya Financial in the 2nd quarter valued at $61,000. Blue Trust Inc. grew its position in Voya Financial by 3,640.9% in the 3rd quarter. Blue Trust Inc. now owns 823 shares of the asset manager’s stock worth $65,000 after purchasing an additional 801 shares during the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Voya Financial during the 3rd quarter worth about $87,000. Institutional investors and hedge funds own 96.10% of the company’s stock. Voya Financial Stock Performance NYSE VOYA opened at $83.00 on Friday. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.58 and a beta of 1.03. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54. Voya Financial, Inc. has a 1-year low of $63.11 and a 1-year high of $84.30. The company has a 50 day moving average of $80.53 and a 200-day moving average of $74.75. Voya Financial Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Tuesday, November 26th. Voya Financial’s dividend payout ratio is currently 28.66%. Insider Buying and Selling at Voya Financial In other news, insider Tony D. Oh sold 715 shares of Voya Financial stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.95, for a total value of $58,594.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website . Corporate insiders own 1.37% of the company’s stock. Analyst Upgrades and Downgrades Several equities analysts recently issued reports on VOYA shares. Morgan Stanley lowered their price target on Voya Financial from $76.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Piper Sandler boosted their price objective on Voya Financial from $88.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Bank of America raised their target price on Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted their price target on shares of Voya Financial from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Barclays raised their price objective on shares of Voya Financial from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.00. Read Our Latest Stock Analysis on VOYA About Voya Financial ( Free Report ) 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. Recommended Stories Receive News & Ratings for Voya Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Voya Financial and related companies with MarketBeat.com's FREE daily email newsletter .