Capital World Investors Purchases 1,025,954 Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Capital World Investors lifted its position in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 85.8% in the first quarter, Holdings Channel.com reports. The firm owned 2,221,954 shares of the company’s stock after purchasing an additional 1,025,954 shares during the quarter. Capital World Investors’ holdings in Victory Capital were worth $94,278,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. grew its holdings in shares of Victory Capital by 1.3% during the 4th quarter. Federated Hermes Inc. now owns 28,896 shares of the company’s stock valued at $995,000 after purchasing an additional 383 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Victory Capital by 93.5% during the fourth quarter. Blue Trust Inc. now owns 1,246 shares of the company’s stock valued at $41,000 after buying an additional 602 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Victory Capital by 10.0% in the first quarter. QRG Capital Management Inc. now owns 9,202 shares of the company’s stock worth $390,000 after buying an additional 839 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Victory Capital by 9.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 10,655 shares of the company’s stock worth $367,000 after buying an additional 922 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Victory Capital by 8.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,994 shares of the company’s stock valued at $551,000 after acquiring an additional 1,062 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on VCTR. BMO Capital Markets restated an “outperform” rating and set a $57.00 price target (up from $55.00) on shares of Victory Capital in a research report on Monday, May 13th. B. Riley lifted their target price on shares of Victory Capital from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Royal Bank of Canada increased their price target on shares of Victory Capital from $47.00 to $56.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. UBS Group cut their price target on shares of Victory Capital from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Morgan Stanley upped their price objective on shares of Victory Capital from $32.00 to $39.00 and gave the company an “underweight” rating in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.57.

Victory Capital Stock Performance

NASDAQ:VCTR opened at $53.45 on Friday. The firm’s fifty day simple moving average is $50.36 and its 200 day simple moving average is $44.38. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.92. Victory Capital Holdings, Inc. has a twelve month low of $28.66 and a twelve month high of $54.94. The stock has a market cap of $3.46 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 0.61 and a beta of 0.93.

Victory Capital (NASDAQ:VCTR) last announced its quarterly earnings results on Thursday, May 9th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. Victory Capital had a return on equity of 29.23% and a net margin of 26.28%. The firm had revenue of $215.86 million for the quarter, compared to the consensus estimate of $219.14 million. As a group, research analysts predict that Victory Capital Holdings, Inc. will post 5.13 EPS for the current year.

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 10th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.77%. Victory Capital’s payout ratio is currently 45.40%.

Victory Capital Profile

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.