Bank of New York Mellon Corp Trims Holdings in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Bank of New York Mellon Corp cut its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 422,993 shares of the company’s stock after selling 13,082 shares during the period. Bank of New York Mellon Corp owned 0.66% of Victory Capital worth $24,479,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of VCTR. Raymond James Financial Inc. bought a new position in Victory Capital in the fourth quarter worth $3,813,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Victory Capital by 16.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,135 shares of the company’s stock worth $925,000 after purchasing an additional 1,981 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Victory Capital by 6.0% during the 4th quarter. HighTower Advisors LLC now owns 9,915 shares of the company’s stock worth $649,000 after acquiring an additional 564 shares during the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of Victory Capital during the 4th quarter valued at $635,000. Finally, Swiss National Bank lifted its position in shares of Victory Capital by 1.0% during the 4th quarter. Swiss National Bank now owns 83,000 shares of the company’s stock worth $5,433,000 after buying an additional 800 shares during the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

Victory Capital Price Performance

NASDAQ VCTR opened at $70.97 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.09 and a quick ratio of 1.09. The stock’s fifty day moving average price is $63.47 and its 200 day moving average price is $62.09. Victory Capital Holdings, Inc. has a 1 year low of $43.82 and a 1 year high of $73.42. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 0.77 and a beta of 1.03.

Victory Capital (NASDAQ:VCTR) last posted its earnings results on Thursday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.02). Victory Capital had a return on equity of 30.28% and a net margin of 32.90%. The firm had revenue of $219.60 million for 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 company’s revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts forecast that Victory Capital Holdings, Inc. will post 6.16 earnings per share for the current year.

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were given a $0.49 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This is a boost from Victory Capital’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a yield of 2.76%. Victory Capital’s payout ratio is 43.65%.

Wall Street Analyst Weigh In

VCTR has been the subject of several recent analyst reports. Barclays raised their target price on Victory Capital from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Bank of America cut 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. Wall Street Zen lowered Victory Capital from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. B. Riley increased their target price on Victory Capital from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Finally, Royal Bank Of Canada upped their price target on shares of Victory Capital from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 13th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.22.

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.