Truist Financial Corp Acquires 2,220 Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Truist Financial Corp grew its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 11.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,278 shares of the company’s stock after acquiring an additional 2,220 shares during the period. Truist Financial Corp’s holdings in Victory Capital were worth $1,063,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Scientech Research LLC acquired a new position in Victory Capital during the second quarter valued at approximately $582,000. Mackenzie Financial Corp acquired a new stake in shares of Victory Capital in the 2nd quarter valued at approximately $346,000. The Manufacturers Life Insurance Company grew its stake in shares of Victory Capital by 27.5% in the second quarter. The Manufacturers Life Insurance Company now owns 26,450 shares of the company’s stock valued at $1,262,000 after buying an additional 5,697 shares in the last quarter. Dark Forest Capital Management LP increased its holdings in Victory Capital by 43.2% during the second quarter. Dark Forest Capital Management LP now owns 35,850 shares of the company’s stock worth $1,711,000 after buying an additional 10,819 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Victory Capital by 47.6% in the second quarter. Sei Investments Co. now owns 167,162 shares of the company’s stock valued at $7,979,000 after acquiring an additional 53,908 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Victory Capital Stock Up 1.6 %

VCTR stock opened at $58.23 on Monday. Victory Capital Holdings, Inc. has a fifty-two week low of $28.66 and a fifty-two week high of $58.58. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 0.61 and a beta of 0.91. The business’s fifty day moving average price is $53.07 and its two-hundred day moving average price is $50.63.

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

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were paid a $0.41 dividend. This is a boost from Victory Capital’s previous quarterly dividend of $0.37. This represents a $1.64 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Tuesday, September 10th. Victory Capital’s payout ratio is 50.31%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VCTR shares. UBS Group lowered their price objective on shares of Victory Capital from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Barclays began coverage on Victory Capital in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $58.00 price objective on the stock. Bank of America lifted their target price on Victory Capital from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Morgan Stanley increased their price target on Victory Capital from $39.00 to $40.00 and gave the company an “underweight” rating in a research note on Tuesday, August 13th. Finally, The Goldman Sachs Group lifted their price objective on shares of Victory Capital from $59.50 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $54.44.

About Victory Capital

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.