Victory Capital Holdings, Inc. (NASDAQ:VCTR) Position Reduced by Quest Partners LLC

Quest Partners LLC lowered its position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 10.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 28,595 shares of the company’s stock after selling 3,436 shares during the quarter. Quest Partners LLC’s holdings in Victory Capital were worth $1,365,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in VCTR. Capital World Investors lifted its holdings in Victory Capital by 85.8% in the first quarter. Capital World Investors now owns 2,221,954 shares of the company’s stock worth $94,278,000 after acquiring an additional 1,025,954 shares during the last quarter. Swedbank AB bought a new position in Victory Capital during the 1st quarter worth $29,701,000. Vanguard Group Inc. increased its position in Victory Capital by 16.4% in the first quarter. Vanguard Group Inc. now owns 3,739,363 shares of the company’s stock worth $158,661,000 after buying an additional 527,190 shares during the period. Goldman Sachs Group Inc. boosted its stake in Victory Capital by 426.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 589,710 shares of the company’s stock valued at $20,310,000 after purchasing an additional 477,798 shares during the period. Finally, Bahl & Gaynor Inc. boosted its position in shares of Victory Capital by 35.0% during the first quarter. Bahl & Gaynor Inc. now owns 1,110,948 shares of the company’s stock worth $47,138,000 after buying an additional 288,280 shares during the period. 87.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on VCTR shares. UBS Group reduced their price objective on shares of Victory Capital from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. BMO Capital Markets reiterated an “outperform” rating and set a $57.00 price objective (up previously from $55.00) on shares of Victory Capital in a research note on Monday, May 13th. The Goldman Sachs Group upped their target price on Victory Capital from $53.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Bank of America lifted their price target on Victory Capital from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. upped their price objective on Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Victory Capital currently has a consensus rating of “Hold” and an average price target of $53.67.

Victory Capital Stock Up 1.7 %

Shares of Victory Capital stock opened at $52.07 on Tuesday. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 0.56 and a beta of 0.91. The stock has a 50-day simple moving average of $51.00 and a 200-day simple moving average of $48.07. Victory Capital Holdings, Inc. has a 52-week low of $28.66 and a 52-week high of $55.16. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.91 and a quick ratio of 0.91.

Victory Capital (NASDAQ:VCTR) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. The company had revenue of $219.62 million during the quarter, compared to analysts’ expectations of $220.82 million. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. On average, equities research analysts expect that Victory Capital Holdings, Inc. will post 5.19 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.37. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.15%. Victory Capital’s payout ratio is 50.31%.

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.