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

Envestnet Asset Management Inc. raised its position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,061 shares of the company’s stock after acquiring an additional 4,377 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.20% of Victory Capital worth $7,411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VCTR. Allspring Global Investments Holdings LLC grew its position in Victory Capital by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,570 shares of the company’s stock worth $997,000 after acquiring an additional 5,807 shares during the period. SG Americas Securities LLC purchased a new position in Victory Capital in the first quarter worth approximately $657,000. KBC Group NV purchased a new position in Victory Capital in the first quarter worth approximately $131,000. Millennium Management LLC grew its position in Victory Capital by 107.1% in the fourth quarter. Millennium Management LLC now owns 14,973 shares of the company’s stock worth $980,000 after acquiring an additional 7,744 shares during the period. Finally, GAMMA Investing LLC grew its position in Victory Capital by 9,300.0% in the first quarter. GAMMA Investing LLC now owns 17,014 shares of the company’s stock worth $985,000 after acquiring an additional 16,833 shares during the period. Institutional investors and hedge funds own 87.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Royal Bank Of Canada raised their price target on Victory Capital from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 13th. B. Riley lifted their target price on Victory Capital from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, May 15th. JPMorgan Chase & Co. decreased their target price on Victory Capital from $69.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Barclays lifted their target price on Victory Capital from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Finally, Wall Street Zen lowered Victory Capital from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.22.

Victory Capital Stock Performance

Shares of VCTR stock opened at $67.66 on Wednesday. The stock has a market capitalization of $4.55 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.74 and a beta of 1.03. Victory Capital Holdings, Inc. has a 52-week low of $43.82 and a 52-week high of $73.42. The stock’s 50-day moving average price is $63.81 and its 200 day moving average price is $62.11. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.84.

Victory Capital (NASDAQ:VCTR) last issued its quarterly 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 net margin of 32.90% and a return on equity of 30.28%. The company had revenue of $219.60 million during the quarter, compared to analyst estimates of $226.38 million. During the same quarter last year, the firm earned $1.25 EPS. The business’s revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Victory Capital Holdings, Inc. will post 6.16 EPS for the current year.

Victory Capital Increases Dividend

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

Victory Capital Company 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.