Principal Financial Group Inc. Has $3.16 Million Stock Holdings in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Principal Financial Group Inc. boosted its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 3.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,548 shares of the company’s stock after purchasing an additional 1,718 shares during the quarter. Principal Financial Group Inc. owned about 0.09% of Victory Capital worth $3,157,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VCTR. Raymond James Financial Inc. bought a new position in shares of Victory Capital during the fourth quarter worth about $3,813,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Victory Capital by 16.3% during the fourth 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 period. HighTower Advisors LLC increased its stake in shares of Victory Capital by 6.0% during the fourth quarter. HighTower Advisors LLC now owns 9,915 shares of the company’s stock worth $649,000 after purchasing an additional 564 shares during the period. Avantax Advisory Services Inc. bought a new position in Victory Capital during the 4th quarter worth $635,000. Finally, Swiss National Bank increased its stake in 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 acquiring an additional 800 shares during the period. Institutional investors own 87.71% of the company’s stock.

Victory Capital Stock Up 1.9%

Shares of NASDAQ VCTR opened at $70.97 on Friday. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 0.77 and a beta of 1.03. Victory Capital Holdings, Inc. has a 12-month low of $43.82 and a 12-month high of $73.42. The firm’s 50-day moving average price is $63.47 and its 200-day moving average price is $62.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.84.

Victory Capital (NASDAQ:VCTR) last released its quarterly earnings data on Thursday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The business had revenue of $219.60 million for the quarter, compared to the consensus estimate of $226.38 million. Victory Capital had a net margin of 32.90% and a return on equity of 30.28%. Victory Capital’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 earnings per share. On average, equities 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 given a $0.49 dividend. This is a positive change from Victory Capital’s previous quarterly dividend of $0.47. The ex-dividend date was Tuesday, June 10th. This represents a $1.96 annualized dividend and a dividend yield of 2.76%. Victory Capital’s dividend payout ratio (DPR) is 43.65%.

Analyst Ratings Changes

VCTR has been the topic of several recent research reports. Wall Street Zen downgraded Victory Capital from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Barclays lifted their target price on Victory Capital from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday. Bank of America dropped their price objective on Victory Capital from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. UBS Group dropped their price objective on Victory Capital from $71.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Finally, B. Riley boosted their target price on Victory Capital from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Victory Capital has a consensus rating of “Moderate Buy” and an average target price 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.