Gabelli Funds LLC Makes New $5.97 Million Investment in Victory Capital Holdings, Inc. $VCTR

Gabelli Funds LLC purchased a new stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 93,756 shares of the company’s stock, valued at approximately $5,969,000. Gabelli Funds LLC owned 0.14% of Victory Capital as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in VCTR. Vanguard Group Inc. lifted its position in Victory Capital by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 4,095,276 shares of the company’s stock valued at $236,994,000 after acquiring an additional 129,055 shares in the last quarter. Amundi bought a new stake in shares of Victory Capital in the second quarter valued at about $213,219,000. Bahl & Gaynor Inc. boosted its position in shares of Victory Capital by 17.2% during the first quarter. Bahl & Gaynor Inc. now owns 1,825,998 shares of the company’s stock worth $105,671,000 after buying an additional 268,573 shares during the period. Geode Capital Management LLC grew its holdings in shares of Victory Capital by 26.5% during the second quarter. Geode Capital Management LLC now owns 1,359,120 shares of the company’s stock worth $86,545,000 after buying an additional 285,137 shares in the last quarter. Finally, Swedbank AB grew its holdings in shares of Victory Capital by 4.3% during the second quarter. Swedbank AB now owns 600,000 shares of the company’s stock worth $38,202,000 after buying an additional 25,000 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $76.00 price target on shares of Victory Capital in a research report on Tuesday, September 23rd. Zacks Research lowered shares of Victory Capital from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Morgan Stanley raised their target price on shares of Victory Capital from $67.00 to $69.00 and gave the company a “positive” rating in a research report on Monday, October 6th. Barclays lowered their price target on shares of Victory Capital from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Victory Capital from $71.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, November 10th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.89.

Victory Capital Price Performance

Shares of NASDAQ VCTR opened at $63.09 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average price is $63.69 and its two-hundred day moving average price is $65.81. The company has a market cap of $4.10 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 0.61 and a beta of 1.11. Victory Capital Holdings, Inc. has a twelve month low of $47.00 and a twelve month high of $73.00.

Victory Capital (NASDAQ:VCTR) last issued its earnings results on Thursday, November 6th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.60 by $0.03. The company had revenue of $361.20 million during the quarter, compared to the consensus estimate of $361.14 million. Victory Capital had a return on equity of 24.23% and a net margin of 25.27%.The firm’s revenue for the quarter was up 60.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.35 EPS. On average, analysts predict that Victory Capital Holdings, Inc. will post 6.16 EPS for the current year.

Victory Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 10th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Wednesday, December 10th. Victory Capital’s payout ratio is currently 50.00%.

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.