Envestnet Asset Management Inc. Raises Position in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Envestnet Asset Management Inc. grew its holdings in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 3.5% during the first quarter, HoldingsChannel reports. The firm owned 128,061 shares of the company’s stock after purchasing an additional 4,377 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Victory Capital were worth $7,411,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Victory Capital by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,570 shares of the company’s stock worth $997,000 after purchasing an additional 5,807 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Victory Capital during the 1st quarter worth $657,000. KBC Group NV acquired a new stake in shares of Victory Capital during the 1st quarter worth $131,000. Millennium Management LLC increased its holdings in shares of Victory Capital by 107.1% during the 4th quarter. Millennium Management LLC now owns 14,973 shares of the company’s stock worth $980,000 after buying an additional 7,744 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Victory Capital by 9,300.0% during the 1st quarter. GAMMA Investing LLC now owns 17,014 shares of the company’s stock worth $985,000 after buying an additional 16,833 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VCTR. Royal Bank Of Canada upped their price objective on Victory Capital from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. dropped their price objective on Victory Capital from $69.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. B. Riley upped their price objective on Victory Capital from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Bank of America dropped their price objective on Victory Capital from $89.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Finally, Barclays upped their price objective on Victory Capital from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.22.

Victory Capital Stock Up 1.0%

Shares of NASDAQ VCTR opened at $67.66 on Wednesday. Victory Capital Holdings, Inc. has a 12-month low of $43.82 and a 12-month high of $73.42. The company has a market cap of $4.55 billion, a P/E ratio of 15.07, a P/E/G ratio of 0.74 and a beta of 1.03. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average price of $63.81 and a 200 day moving average price of $62.11.

Victory Capital (NASDAQ:VCTR) last posted its quarterly earnings data on Thursday, May 8th. The company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). Victory Capital had a net margin of 32.90% and a return on equity of 30.28%. The firm had revenue of $219.60 million during the quarter, compared to analysts’ expectations of $226.38 million. During the same period in the previous year, the company earned $1.25 earnings per share. The business’s quarterly revenue was up 1.7% on a year-over-year basis. Research analysts anticipate that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were issued a dividend of $0.49 per share. The ex-dividend date was Tuesday, June 10th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.47. This represents a $1.96 annualized dividend and a dividend yield of 2.90%. Victory Capital’s dividend payout ratio is 43.65%.

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.